Performance Summary

We push forward because we care about the game we're in. David Attenborough - Tabcorp CEO

The table below is extracted from Tabcorp's Annual Report 2020 and summarises the results for the financial year ended 30 June 2020. The information below should be read in conjunction with Tabcorp's Annual Report 2020.

Five Year Performance Table

Financial performance UNIT FY20 FY19(i) FY18 FY17 FY16
Total revenue(ii) $m 5,224 5,488 3,765 2,234 2,189
EBITDA(iii) $m (196) 1,082 490 285 480
Profit/(loss) before interest and tax $m (574) 730 241 102 301
Profit/(loss) after income tax attributable to members of parent entity $m (870) 361 29 (21) 170
Dividend(iv) $m 223 444 423 209 200
Financial position and cash flow            
Total assets $m 12,416 13,623 12,941 3,741 3,303
Total liabilities $m 6,386 6,440 5,702 2,258 1,615
Shareholders' funds/total equity $m 6,030 7,183 7,239 1,483 1,688
Net cash flows from operating activities $m 671 770 448 223 401
Capital expenditure - payments $m 290 278 292 197 183
Cash at end of year $m 349 463 353 114 126
Shareholder value            
Earnings per share cents (42.9) 17.9 1.9 (2.5) 20.4
Dividends per share(iv) cents 11.0 22.0 21.0 25.0 24.0
Operating cash flow per share(v) cents 18.8 24.4 10.5 3.0 26.2
Net assets per share $ 2.98 3.56 4.89 1.78 2.03
Return on shareholders' funds % (12.8) 5.0 0.6 (1.3) 10.0
Total shareholder return(vi) % (19.9) 4.2 7.5 0.6 5.5
Share price close $ 3.38 4.45 4.46 4.37 4.57
Market capitalisation $m 6,869 8,986 8,978 3,650 3,800
Segment revenue from continuing operations(vii)            
Lotteries and Keno(viii) $m 2,917 2,865 1,391 213 209
Wagering and Media(ii) $m 2,084 2,318 2,122 1,873 1,873
Gaming Services $m 221 304 250 144 107
Employee            
Safety(ix) LTIFR 4.1 3.6 2.3 1.5 0.9
Females in senior management roles % 39 36 36 39 37
Other stakeholder benefits            
Returns to racing industry $m 954 975 917 813 787
State and territory gambling taxes and GST $m 2,086 2,100 1,166 406 428
Income tax expense $m 103 161 85 46 61

The Tabcorp-Tatts combination was implemented in December 2017, therefore FY18 includes approximately six months contribution from the Tatts business, and FY19 represents the first full financial year for the combined group. 

(i) FY19 has been restated to reflect the impact of the application of AASB 16 Leases which was adopted in FY20. Periods prior to FY19 have not been restated.

(ii) Periods since FY18 (which was restated) reflect the impact of the application of AASB 15 Revenue from Contracts with Customers.

(iii) Includes impairment of:
      FY20: Goodwill - $1,090 million and other assets - $43 million.
      FY19: Other assets - ($4) million.
      FY18: Other assets - $39 million
      FY17: Other assets - $28 million

(iv) Dividends attributable to the year, but which may be payable after the end of the period.

(v) Net operating cash flow per the cash flow statement does not include payments for property plant and equipment and intangibles, whereas these items are included in the calculation for the operating cash flow per share ratio.

(vi) Total shareholder return (TSR) is calculated from 1 July to 30 June. The share price used for calculating TSR is the volume weighted average share price used in the Tabcorp Dividend Reinvestment Plan (DRP). Where no DRP was in operation, the closing share price on the dividend payment date is used.

(vii) Revenue includes both external and internal revenue.

(viii) Prior to FY18, this was the Keno segment.

(ix) The lost time injury frequency rate (LTIFR) is the number of lost time injuries per million hours worked.