Playtech continues its success with € 127.6 million the confirmed profits for 2021. These are promising figures that should encourage a swift TTB takeover. (Image from playtech.com)
As Playtech is a company floated on the London Stock Exchange (LSE), we have the pleasure of reporting the firm’s public figures. Rattling the iGaming newswires right now is the firm’s adjusted 2021 post-tax profits now showing € 127.6 million (the report officially uses Euros) which is a 366% increase Vs 2020s figures. The profits were reportedly due to strong B2B online growth notably from LATAM markets as well as Latin America and Italy via Snaitech, while overall performance was driven mainly through Playtech’s online gambling business arms.
You can see the full Playtech plc summary, breakdown and adjustments here via the investors.playtech.com web services.
Summary of 2021 Revenue Vs 2020 – An Impressive Rise
Overall, the company reeled in a total of € 1.2 billion (€1,205.4m) in 2021 giving the LSE-listed firm a 12% hike in revenue versus 2022 revenue figures in which the official figure reported was € 1.2 billion (€1,078.5m). There is an adjusted ‘Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of € 317.1 million. In comparison with 2020s EBITDA (€253.6 million), the increase is 25%. Overall, from a revenue perspective, 2021 has blown 2020 out of the water despite the pandemic.
Summary of 2021 Profits Vs 2020 – From Red to Black
As for profits, Playtech predictably outperformed its 2020 results during which the company reported considerable post-tax losses (- €73.1m) as the company has not yet received its full income. Adjusted figures reported last year took the company from red to black as the new 2020 figures accounted for an additional €100.4 million in revenue, bringing the ‘Adjusted post-tax profit’ up to 27.3 million. Much of those funds had already been accounted for in the 2021 H1 Playtech report, which mostly came from unfulfilled payments via Playtech’s Latin America business.
Furthermore, official figures show that the 2021 ‘Reported post-tax profit’ of € 686.7 million has been considerably reduced to € 127.6 million. Regardless of the reduced figures, the company still reports a significant increase in post-tax profits, which amount to a 366% increase versus 2021’s adjusted post-tax profits.
Summary of 2021 EPS Vs 2020 – Shareholders can Smile
Long-term shareholders in Playtech PLC (LSE: PTEC) have seen a huge increase in share prices dating back to Aristocrat’s interest in the company – a deal that subsequently fell through due to regulatory issues. The company shares moved up in October 2021 from 423 GBX to 678 GBX, giving shareholders a 60% increase in value. That increase contributed to the latest adjusted figures that show a 365% increase overall in EPS. 2021’s original ‘Reported diluted EPS’ in the latest Playtech financial report show 220.0 €c while the Adjusted diluted EPS is 40.9 €c versus the 2020s Adjusted diluted EPS of 8.8 €c.
Summary of Playtech’s Financial Reporting – Strong Americas Performance
In the summary, Playtech explains that its financial performance was ahead of expectations. The highlight of the PLC’s revenues came via its strong performances in the Americas regions, which includes its Michigan live casino studios, while live casino across the board has brought in additional revenue after opening 4 new live casino studios throughout 2021.
Thanks to the success in the Americas region, it helped to drive 11% overall B2B growth with €554.3 million reported in 2021 versus the 2020 figures, which were €494.8 million. Focusing on America’s growth, the region contributed €101.3 million to B2B revenue in 2021 up from €60.6 million in 2020, thus nailing a record 64% growth rate here.
In Mexico, the company’s Caliente and Wplay brands also showed impressive growth while NorthStar (Canada) and Holland Casino (Netherlands) also helped to improve the brand’s revenue streams. Adding to this, Snaitech brought in €177.9 million via the HPYBET and white label, while the online side of the Snaitech business recorded €229.9 million EBITDA. As for the online gambling (white label) solutions offered via Playtech, this side of the business reported € 62.0 million in revenue up from € 62.0 million in 2020.
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