Tabcorp : Appendix 4D and Interim Financial Report

For personal use only

17 February 2022

Australian Securities Exchange

Companies Announcements Platform

20 Bridge Street

Sydney NSW 2000

RESULTS FOR ANNOUNCEMENT TO THE MARKET

FOR THE HALF YEAR ENDED 31 DECEMBER 2021

In accordance with the ASX Listing Rule 4.2A, the following information in respect of Tabcorp Holdings Limited's (Tabcorp) results for the half year ended 31 December 2021 is transmitted for lodgment:

1. Appendix 4D; and
2. Interim Financial Report.

The information contained in this announcement should be read in conjunction with Tabcorp's most recent Annual Report.

This announcement was authorised for release by the Tabcorp Board.

For more information:

Media: Nicholas Tzaferis, GM Corporate Communications, [phone]

Investors/Analysts: Chris Richardson, GM Investor Relations & Treasury, [phone]

Tabcorp	Level 21, Tower 2	GPO Box 1943	tabcorp.com.au
727 Collins Street	Melbourne VIC Australia
Holdings Limited	ABN 66 063 780 709
Melbourne VIC 3008	3001

A P P E N D I X 4 D

For personal use only

Results for announcement to the market

Half year report for the 6 months ended 31 December 2021

Tabcorp Holdings Limited (ABN 66 063 780 709)

Results			$m	% change
		increase/(decrease)
Revenue from ordinary activities		2,934	2%
Profit from ordinary activities after tax attributable to members	175	(5%)
Net profit for the period attributable to members		175	(5%)
			Amount	Franked amount
Dividend	Record date	Payment date	per share	per share
Final dividend	26 August 2021	17 September 2021	7.0 ¢	7.0 ¢
Interim dividend	23 February 2022	17 March 2022	6.5 ¢	6.5 ¢

No foreign conduit income is attributable to the interim dividend.

Dividend reinvestment plan

Tabcorp's Dividend Reinvestment Plan (DRP) will operate in respect of the interim dividend, with the last date for receipt of election notices being 24 February 2022. No discount is applicable to shares allocated to participants and no brokerage, commission or other transaction costs will be payable by participants on shares acquired under the DRP. Shares will be allocated on 17 March 2022 and will rank equally in all respects with existing shares. The price at which shares are allocated is the daily volume weighted average market price of Tabcorp shares sold in the ordinary course of trading on the Australian Securities Exchange over a period of 10 business days beginning on the second business day after the dividend record date.

Net tangible asset backing (i)	December 2021	December 2020
$	$
Net tangible asset backing per ordinary share	(1.47)	(1.58)
Net tangible asset backing per ordinary share including licences	(0.57)	(0.64)

(i) Net tangible assets includes liabilities in relation to leasing and the corresponding right-of-use assets.

Controlled entities

The following controlled entities were incorporated during the half year ended 31 December 2021:

Company Name	Date incorporated
L&K Finance Pty Ltd	7/10/2021
L&K Operations Pty Ltd	7/10/2021
Tatts Keno Holdings Pty Ltd	7/10/2021
Keno (ACT) Pty Ltd	7/10/2021

Supplementary information

The previous corresponding period is the half year ended 31 December 2020.

For additional Appendix 4D disclosures, refer to the accompanying Interim Financial Report (which includes the Directors' Report) for the half year ended 31 December 2021 and ASX Media Release.

This Appendix 4D should be read in conjunction with Tabcorp Holdings Limited's Annual Report 2021.

For personal use only

Tabcorp Holdings Limited

and controlled entities

ABN 66 063 780 709

I N T E R I M F I N A N C I A L

R E P O R T

For the half year ended

31 December 2021

For personal use only

Contents
Directors' Report	3
Directors	3
Principal activities	3
Review of operations	3
1H22 Group result	3
1H22 business results	4
Dividend	6
Significant changes in the state of affairs	7
Other matters	7
Significant events after the end of the half year period	7
Rounding of amounts	7
Auditor's independence declaration	7
Financial Report	9
Income statement	9
Balance sheet	10
Cash flow statement	11
Statement of changes in equity	12
Notes to the financial statements	13
Directors' declaration	20
Independent auditor's review report	21

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D I R E C T O R S ' R E P O R T

For personal use only

The Directors of Tabcorp Holdings Limited (the Company) present their report for the consolidated entity comprising the Company and its subsidiaries (the Group) and the Group's interests in joint arrangements in respect of the half year ended 31 December 2021 (1H22).

Directors

The Directors of the Company in office during the half year and up to the date of this report (unless otherwise stated) are as follows:

Name	Title
Steven Gregg	Chairman and Non-executive Director
David Attenborough	Managing Director and Chief Executive Officer
Bruce Akhurst	Non-executive Director
Harry Boon	Non-executive Director
Anne Brennan	Non-executive Director
David Gallop AM	Non-executive Director
Janette Kendall	Non-executive Director (from 25 August 2021)
Justin Milne	Non-executive Director

Principal activities

The principal activities of the Group during the half year comprised the provision of gambling and entertainment services. The Group's principal activities remain unchanged from the previous financial year ended 30 June 2021, except as disclosed elsewhere in this Directors' Report.

Review of operations

The Tabcorp Group comprises the following three operating segments:
•	Lotteries and Keno;
• Wagering and Media; and
•	Gaming Services.
1H22 Group result
			1H22	1H21	Change
			$m	$m	%
Revenues		2,934	2,870	2.2
EBITDA			512	598	(14.4)
EBIT			316	410	(22.9)
NPAT			175	185	(5.4)
Earnings per share (EPS) - cents per share		7.9	8.6	(8.1)
Dividends per share - cents per share fully franked		6.5	7.5	(13.3)

Reported Group net profit after tax (NPAT) was $175m, which was down 5.4% on the previous corresponding period (pcp). Basic earnings per share (EPS) for the period was 7.9 cents per share, down 8.1% from the pcp.

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