Excellent Results!9 Apr 2014 08:37
She is going to fly today!
("GVC" or the "Group")
Preliminary Results and Trading Update
GVC Holdings PLC (AIM:GVC), the multinational sports betting and gaming group,today announces its Preliminary Results for the year ended 31 December 2013 and a Trading Update for its first quarter to 31 March 2014.
Highlights
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Total Proforma Revenues* increased by 69% to €180.6 million (2012: €107.1 million)
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Clean EBITDA** rose year-on-year by 148% to €38.3 million, ahead of upgraded market expectations
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Sportingbet turnaround complete and contributed €4.7 million to 2013 EBITDA
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EPS (normalised and non-diluted) rose 83% to 58.6 €cents (2012: 32.1 €cents)
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Quarterly dividend - 11.5 €cents declared plus a special dividend of 4.5 €cents also declared
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Total dividends declared for 2013 up 120% to 48.5 €cents (2012: 22.0 €cents)
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Current trading at record levels, NGR exceeded €50 million for Q1 (Q1 2013: €35.6 million)
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Complex acquisition capabilities proven and GVC looking at a variety of further opportunities
* Assumes revenues from East Pioneer Corporation consolidated from 1 January 2013 to 19 March 2013
** Earnings before interest, taxation, depreciation, amortisation, share option charges and exceptional items
Commenting on the results, Kenneth Alexander, Chief Executive of GVC Holdings plc, said: "Executing the complex acquisition and turnaround of Sportingbet has been a milestone for GVC and has led to greater geographical diversification and a significant increase in profits and dividends. We are now ready for the next stage in our corporate development and further geographic expansion through organic growth and acquisitions. GVC aims to deliver this without diluting the dividend. The Board is confident of meeting current market expectations for the 2014 financial year as underpinned by our proposed dividend of 16 €cents total."
- Ends -
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