Tabcorp Holdings reported a 181.3% rise in its Earnings before interest and tax

On 21 February 2023, Tabcorp Holdings Limited (ASX: TAH) has released its 1HFY23 results, reporting:

• The Group achieved a net profit after tax (NPAT) of AU$51.7 million, in contrast to a net loss after tax of AU$24.2 million in the pcp and its revenue for the period was AU$1,274.5 million, an increase of 10.8% compared to the pcp.
• EBITDA stood at AU$201.6 million, an 18.2% increase compared to the pcp and EBIT amounted to AU$78.2 million, an impressive 181.3% rise from the pcp.
• It has reported Basic EPS of 2.3 cents per share in contrast to a loss of 1.1 cents per share in the pcp.
• Both the Wagering and Media, and Gaming Services businesses experienced a strong rebound from the COVID-19 affected pcp, with 10.8% and 18.2% growth recorded in Group revenue and EBITDA respectively.
• The Group’s balance sheet remains in a strong position, with AU$382 million in net debt and gearing of 1.4x as at 31 December 2022.

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