Aristocrat highlights FY2022 financial results in annual general meeting
The meeting, held today, analyzed the company’s financial performance in various sectors.
Aristocrat has announced its FY2022 performance at an annual general meeting, with the company’s CEO Trevor J. Croker reporting an 18% annual rise in revenue to $5.5bn. He also stated that the gaming technology company had seen EBITDA growth of 33% year-over-year.
The group delivered a net profit before amortization of $1.1bn, representing a profit improvement of approximately 27% (in reported terms) and 20% in constant currency compared to the same prior-year period.
Aristocrat also strengthened its balance sheet, generating a net cash position of $564m with liquidity of $3.8bn. Early in 2022, the company completed a $1.3bn dollar equity raising in connection with its lapsed Playtech acquisition.
The business subsequently set out to refinance its debt and extend its maturities. Croker claimed that this resulted in a more diversified capital structure and competitive pricing – underlining Aristocrat’s ability to support its long-term growth ambitions.
Around $1.1bn in debt repayments were also made in the year, including $250m which was repaid in September 2022. Free cash flow was applied to fund our growth plans, while $660m in surplus cash was appropriately returned to the shareholders.
In 2022, Aristocrat invested $480m in user acquisition to drive its mobile portfolio performance. Croker pointed to the ‘resilient’ profitability at Pixel United, its gaming division.
Croker commented: “I would also highlight that both NPATA and EPS performance in 2022 exceeded our 2019 financial year results by approximately 20%, underlining the Group’s post-Covid-19 recovery.
“Focusing on what we can control has long been a touchstone of our strategy, and this was again instrumental to our performance in the reporting period, as we navigated numerous geopolitical, macroeconomic and market-specific challenges.
“Additionally, I acknowledge and thank all those within the Pixel United businessand in other teams across Aristocrat, who have been delivering support to our people over the past 12 months.”
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