EIHDF - 888 Holdings plc (EIHDF) Q4 2023 Earnings Call Transcript
2024-03-26 09:32:09 ET
888 Holdings plc (EIHDF)
Q4 2023 Earnings Conference Call
March 26, 2024 03:45 AM ET
Company Participants
Per Widerström - Chief Executive Officer
Sean Wilkins - Chief Financial Officer
Vaughan Lewis - Chief Strategy Officer
Conference Call Participants
Ivor Jones - Peel Hunt
Matt Copeland - Jefferies
Richard Stuber - Numis
Roberta Ciaccia - Investec
Presentation
Per Widerström
So good morning, everyone and thanks for joining us today for our 2023 full year results. I am Per Widerström and I joined as CEO of this great business in October last year. And today, it gives me huge pleasure to tell you about the significant progress we have made since then, and how excited I am about our value creation plan for the coming years.
We have the agenda for this morning's presentation on Slide 2 here. And today, it's really about the future. Our obsession and commitment to value creation and as a result, that is where we're going to focus our time today. So after a quick introduction from me, Sean will give a short overview of our 2023 results. And this will give the context of why this is such a critical and exciting time for the Group and why we are acting decisively and with pace and so we reach our full potential.
I would then outline our new strategy for success and provide some details about our value creation plan. This is our promise to our shareholders and explains what, how, and where we will deliver value in the coming years. Sean will then outline the financial aspects of our plan before we open up to take questions. And for the Q&A session, I'm pleased to say that Sean and I will be joined by Vaughan Lewis, our Chief Strategy Officer.
So let's turn to Slide 3. So I wanted to start by saying this is the beginning of a new chapter in the history of this business. We are resetting the business and embarking on a transformation journey to unlock our full potential. I mean we still possess the same great attributes you already know about. We operate in fantastic markets and enjoy leading position in growing total addressable market, with high advising barriers to entry. We have the key ingredients for success. I mean namely robust proprietary technology and some of the strongest betting and gaming brands in the world. However, it was my incoming belief that this business was not performing anywhere near the level it could and should. That's the reason why I took this job. We have a fantastic opportunity ahead of us but we must make bold changes to ensure we reach our potential.
Before and after I started, I took the time to visit nearly all of our offices and met with many colleagues across various departments. It was clear that there was a burning hunger for change, particular in terms of our ways of working, we offer to unclear roles and responsibilities. It was also clear to me that we needed to strengthen our group executive team with first-class people, who knew and who know what world-class look like and have deep understanding how to get there.
There was also a clear message from all the colleagues about the need to become a one company with a clear united strategy, mission and vision. Our new strategy and value creation plan is all about defining what success look like and how to get there. We are taking these key ingredients of success and building a robust execution plan based on key value creation drivers. We now have the right team in place and are building the capabilities to maximize the opportunities that these foundations give us. This is a new plan. It will be delivered by a new team, obsessed about value creation and we will have a new corporate identity and name.
So let's turn to Slide 4. I would like to outline some of the immediate actions I have taken to set us on the right path. I set an ambitious 100-day plan when I began my role and this instills a real sense of urgency for me and business....
888 Holdings plc (EIHDF) Q4 2023 Earnings Call Transcript