Tabcorp has released its half-year results for the six months ending December 31, 2024. The company saw a solid increase in revenue and EBITDA, supported by wagering growth and operational efficiencies. The Tabcorp half-year results reflect key benefits from regulatory changes and disciplined cost management.
Group revenue reached $1,331.3 million, marking a 10.1% increase compared to 1H24. EBITDA grew 12.0% to $190.2 million, reflecting improved margins. The company’s performance benefited from the reformed Victorian Wagering and Betting Licence.
The transition to the new Victorian licence contributed an EBITDA uplift of $36.4 million over 4.5 months. This performance aligned with expectations despite soft market conditions.
Tabcorp continued strong cost management, improving underlying operating expenses by 1.8% before incentive accrual. The company raised its FY25 cost-saving target from $20 million to $30 million.
Wagering & Media revenue increased by 11.3% compared to 1H24. Cash wagering outpaced digital, with net revenue from cash transactions rising 18.2% year-on-year.
Net Profit After Tax before significant items rose to $22.1 million, up 25.6% from 1H24. The company’s improved earnings highlight ongoing business resilience.
Shareholders will receive an interim dividend of 1.0 cents per share, unfranked. This dividend reflects the company’s balanced approach to reinvestment and shareholder returns.
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