Flutter Investor Day Presentation Deck
Group ex-US EBITDA margin 28% after investment
Pro forma
UK & Ireland Online
UK & Ireland Retail
UK & Ireland
Australia
International
Corporate costs
Group ex-US
US
Group
Group ex-US
Group
Flutter
H1
2021
398
(39)
359
201
179
(55)
684
(87)
597
28%
20%
Adjusted EBITDA (£m)
H1
2020
260
(10)
251
121
397
(66)
703
(19)
684
Adjusted EBITDA %
33%
29%
YOY
CC
+52%
+340%
+42%
+56%
-52%
-10%
-2%
+376%
-12%
-5pps
-9pps
Group ex-US EBITDA margin of 28%
Excellent operating leverage in UK&I
online and Australia
This helped offset:
-
-
Retail closures in UK&I for majority of H1
Significant investment in International
Regulatory changes which accounted for
approx. half the EBITDA margin decline in
International
US loss increased to £87m reflecting
online operations in 6 new states vs H1
2020 and continued customer
acquisition in existing states
Significant Group-wide investment
Incremental c. £300m in marketing to
£728m in H1
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