2 results
10-K
2023 FY
FLUT
Flutter Entertainment plc
26 Mar 24
Annual report
6:09am
The 2021 LTIP award was assessed against relative TSR performance, measured against the FTSE 100 (excluding housebuilders, real estate investment trusts and natural resources companies). The Company’s TSR performance during the performance period was below the threshold target of the median of the peer group and as such, the 2021 LTIP award did not vest. This performance has largely been impacted by the start of the TSR performance period which included a period of historically high share price performance. The tables below set out a summary of performance relative to the 2021 LTIP award targets and the outturn for each executive director.
Targets | Outcome | |||||||||||||||
Performance measure | Threshold 25% of award vests | Maximum 100% of award vests | Actual performance | % of maximum achieved | % of award eligible for vesting | |||||||||||
Relative TSR(1) | Growth in line with median 14.1% | Growth in line with upper quartile 49.0% | (3.8 | )% | 0 | % | 0 | % | ||||||||
Total vesting (% of max) | 0 | % | ||||||||||||||
10-K
2023 FY
FLUT
Flutter Entertainment plc
26 Mar 24
Annual report
6:09am
The table below shows the outcomes for each element on an actual outcome and adjusted basis, relative to the stretching targets set at the start of the year. Targets and outturn for the financial measures are presented under IFRS accounting.
Performance targets(1) | Actual performance | Bonus outcome pre adjustment (% of max) | Bonus outcome pre adjustment (% of target) | Performance after adjustment (4) | Bonus outcome after adjustment (% of max) | Bonus outcome after adjustment (% of target) | Bonus outcome | |||||||||||||||||||||||||||||||||||||||||
Weighting | Threshold | Target | Maximum | Peter Jackson | Jonathan Hill(2) | Paul Edgecliffe- Johnson(2) | ||||||||||||||||||||||||||||||||||||||||||
Group Revenue | 30 | % | £ | 8,734m | £9,292m | £ | 9,850m | £ | 9,514m | 24 | % | 36 | % | £9,519m | 24.1 | % | 36.1 | % | ||||||||||||||||||||||||||||||
Group Adjusted EBIT | 25 | % | £ | 940m | £1,011m | £ | 1,062m | £ | 1,021m | 18.2 | % | 27.3 | % | £1,059m | 24.5 | % | 36.7 | % | ||||||||||||||||||||||||||||||
US Adjusted EBITDA | 25 | % | FanDuel profitable | FanDuel profit of $10m | US profit of $10m | US profit of $107m | 25 | % | 37.5 | % | US profit of $151m | 25 | % | 37.5 | % | |||||||||||||||||||||||||||||||||
Safer gambling:(3) | 20 | %: | Various divisional targets | 19.1 | % | 28.7 | % | 19.1 | % | 28.7 | % | |||||||||||||||||||||||||||||||||||||
FanDuel | 5 | % | 8 | % | 10% | 12 | % | 17.3 | % | 5 | % | 7.5 | % | 5 | % | 7.5 | % | |||||||||||||||||||||||||||||||
UKI (SG Tools) | 1.65 | % | 50 | % | 50.5% | 51 | % | 51.8 | % | 1.65 | % | 2.5 | % | 1.65 | % | 2.5 | % | |||||||||||||||||||||||||||||||
UKI (TRI) | 3.35 | % | (4 | )% | (8)% | (12 | )% | (39 | )% | 3.35 | % | 5 | % | 3.35 | % | 5 | % | |||||||||||||||||||||||||||||||
Sportsbet | 5 | % | 15.2 | % | 19% | 22.8 | % | 20.8 | % | 4.1 | % | 6.2 | % | 4.1 | % | 6.2 | % | |||||||||||||||||||||||||||||||
International | 5 | % | 57.8 | % | 59.1% | 60.4 | % | 64.7 | % | 5 | % | 7.5 | % | 5 | % | 7.5 | % | |||||||||||||||||||||||||||||||
Total | 86.3 | % | 129.5 | % | 92.7 | % | 139 | % | £ | 3,206,312 | £ | 575,332 | £ | 1,448,066 | ||||||||||||||||||||||||||||||||||
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