Super Group (SGHC) Ltd

Good morning and welcome to Supergroup's first quarter of 2022 earnings conference call. Following management's prepared remarks, we will open the call for Q&A. If anyone should require operator assistance during the call, please press star zero on your telephone keypad. I would now like to turn the call over to Lisa Kemp, Vice President of Investor Relations.

Good morning, everyone, and thank you for joining our call today. During this call, we may make comments of a forward-looking nature that are subject to risk, uncertainties, and other factors discussed further in our SEC filings that could cause our actual results to differ materially from our historical results or from our forecast. We assume no responsibility to update the forward-looking statements other than as required by law. Additionally, on today's call, we may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for measures of financial performance prepared in accordance with GAAP. The reconciliation of historical non-GAAP financial measures to the most comparable GAAP figures are included in the press release issued earlier today and available on the investor relations page of Supergroup's website. Also note that we have posted a supplemental presentation to the investor relations section of our company website along with the press release, the link to the replay of this webcast, and filings with the SEC. And now I would like to turn the call over to Neil Menasche, Supergroup's Chief Executive Officer.

Thank you, Lisa. Good morning, everyone, and thank you for joining us on the call today to discuss our results and development for Supergroup's first quarter of 2022. I'm joined by Richard Hasson, our president and COO, who will discuss how we're executing on our growth strategy, and Elinda van Veek, our CFO, who will discuss our financial performance for the quarter. Supergroup began trading as a public company on January 28, 2022, following the business combination with Sports Entertainment Acquisition Corp. With the deal behind us, we've been focused on moving forward, operating as a public company, including appointing two additional independent board members, Natara Holloway and Jonathan Jossel. We are thrilled that Natara and Jonathan have joined our board as they bring a wealth of experience relevant to our dynamic industry and they provide valuable perspectives as we continue to pursue a global growth strategy. Moving on to financial results for the quarter. Net gaming revenue was 315 million euros and adjusted EBITDA was 63 million euros. Alinda will discuss the results, which are presented in a presentation posted to our website. However, I want to add that Supergroup continues to expand in both existing and new markets and continues to generate consistent cash flow. That said, we do have some specific as well as general economic headwinds that showed up in our Q1 results. Specific to Supergroup, we've had some regulatory changes in several European markets that make the year-over-year comparisons challenging. On a general basis, like others, we experienced a lower than normal hold in March. That condition has thus far been limited to March, and we experienced normal hold in April and May. Going forward, we're also unsure as to how consumers react to high inflation and to various worldwide events that may affect discretionary spending patterns. These headwinds crop up from time to time, so we continue to operate the business with discipline, with a focus on long-term growth, But we think that it will be tough to meet or exceed our original 2022 forecast. Given the volatility we've seen and known uncertainties, we're working on a re-forecast for 2022 and should be able to provide an update about our expectations when we release second quarter results in August. I want to spend a moment on the super group balance sheet because we believe it is competitive strength in a period of uncertainty. Our balance sheet was in good shape when we were public in January, and it continues to strengthen as we generate cash from operations. Our balance sheet and our cash flow generation combined to place us in a very good position to remain orientated towards growth in this period of headwinds. I'll now turn the call over to Richard. Richard? Thank you, Neil.