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 2021 and summarises the results for the financial year ended 30 June 2021. The information below should be read in conjunction with Tabcorp's Annual Report 2021.

Five Year Performance Table

Financial performance UNIT FY21 FY20 FY19(i) FY18 FY17
Total revenue(ii) $m 5,686 5,224 5,488 3,765 2,234
EBITDA(iii) $m 1,031 (196) 1,082 490 285
Profit/(loss) before interest and tax $m 651 (574) 730 241 102
Profit/(loss) after income tax attributable to members of parent entity $m 269 (870) 361 29 (21)
Dividend(iv) $m 322 223 444 423 209
Financial position and cash flow            
Total assets $m 11,869 12,416 13,623 12,941 3,741
Total liabilities $m 5,173 6,389 6,443 5,702 2,258
Shareholders' funds/total equity $m 6,696 6,027 7,180 7,239 1,483
Net cash flows from operating activities $m 720 671 770 448 223
Capital expenditure - payments $m 183 290 278 292 197
Cash at end of year $m 424 349 463 353 114
Shareholder value            
Earnings per share cents 12.3 (42.9) 17.9 1.9 (2.5)
Dividends per share(iv) cents 14.5 11.0 22.0 21.0 25.0
Operating cash flow per share(v) cents 24.6 18.8 24.4 10.5 3.0
Net assets per share $ 3.07 2.97 3.56 4.89 1.78
Return on shareholders' funds % 4.1 (12.8) 5.0 0.6 (1.3)
Total shareholder return(vi) % 55.8 (19.9) 4.2 7.5 0.6
Share price close $ 5.18 3.38 4.45 4.46 4.37
Market capitalisation $m 11,508 6,869 8,986 8,978 3,650
Segment revenue from continuing operations(vii)            
Lotteries and Keno(viii) $m 3,206 2,917 2,865 1,391 213
Wagering and Media(ii) $m 2,298 2,084 2,318 2,122 1,873
Gaming Services $m 183 221 304 250 144
Employee            
Safety(ix) LTIFR 2.3 4.1 3.6 2.3 1.5
Females in senior management roles % 43 39 36 36 39
Other stakeholder benefits            
Returns to racing industry $m 1,037 954 975 917 813
State and territory gambling taxes and GST $m 2,240 2,086 2,100 1,166 406
Income tax expense $m 214 103 161 85 46

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:
      FY21: Goodwill - $122m and other assets - $10m.
      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.