Tabcorp (TAH) AGM 2025 summary

Opening remarks and agenda

• AGM opened with acknowledgment of traditional landowners and introduction of board and leadership team.

• Meeting conducted both in-person and online, with voting on all resolutions via poll.

• Procedures for voting and Q&A explained, with opportunities for both in-person and online participation.

Financial performance review

• Group revenue increased 11.8% to $2,614.6M; EBITDA before significant items up 23% to $392M.

• NPAT before significant items rose 76.8% to $49.5M; statutory NPAT at $36.6M, a turnaround from prior year loss.

• $84M in EBITDA contributed by new Victorian Wagering and Betting License; $39M OpEx savings achieved.

• Opex increased by 13.6% to $697.2M, and reported leverage stands at 1.6x.

• Adjusted EPS increased to 3.9 CPS.

Board and executive committee updates

• Strengthened leadership with new appointments across wagering, media, tech, and operations.

• Vivian Stuart appointed to the board, bringing digital transformation expertise; search underway for an additional non-executive director with international experience.

• Greater alignment to strategy and clearer accountability established through new leadership.