Group prelims show upward trend in revenues, pre-tax profit and EBITDA
The European online sports betting and casino group GVC Holdings has released its preliminary results for the year ended , highlighting the following developments and financial results:
* Wagers up 25 percent to Euro 1,464 million (2013: Euro 1,170 million);
* Sports Gross Margin 9.8 percent (2013: 9.6 percent);
* Net Gaming Revenue up 32 percent to Euro 225 million (2013: Euro 170 million);
* Contribution up 20 percent to Euro 123 million (2013: Euro 103 million);
* Clean EBITDA up 28 percent to Euro 49.2 million (2013: Euro 38.3 million);
* Profit before tax up 217 percent to Euro 41.3 million (2013: Euro 13.0 million);
* Quarterly dividend raised from 12.5 Euro cents to 14.0 Euro cents per share, with a proposed further 1.5 Euro cents per share special dividend, giving a total of 15.5 Euro cents per share payable ;
* 2014 dividends of 55.5 Euro cents (2013: 48.5 Euro cents), an increase of 14.4 percent over 2013;
* Total returns to shareholders since the completion of the acquisition of Sportingbet two years ago include a share price rise of over £2 and total dividends announced of Euro 1.04 per share
Management reported that current trading is going well, with:
* Deposits up 20 percent to Euro 1.7million per day;
* Q1-2015 wagers Euro 4,601,000 per day up 22 percent on Q1-2014 (Euro 3,765,000);
* Q1-2015 sports gross margin was 8.9 percent against 10 percent in same period in 2014;
* Q1-2015 NGR Euro 661,000 per day, up 18 percent on Q1-2014 (Euro 559,000);
* Q1-2015 in-play revenues rose 19 percent to Euro 300,000 per day (Q1-,000).
GVC chief executive Kenneth Alexander said Monday:
"During 2014 GVC continued to grow NGR, up by 32 percent in the year; it achieved a 22 percent EBITDA margin; and distributed 68 percent of its Clean EBITDA and 79 percent of its Clean Net Operating Cash by way of dividends.
"This is an exceptional performance and our growth continues in the broad spread of markets in which we operate.
"We control our costs very tightly, have highly motivated employees who have financial incentives aligned to shareholders and we are in a strong position to be a consolidator in the industry. GVC has never been in a stronger position and we look forward to 2015 and beyond with confidence."
Online Casino News Courtesy of Infopowa