Dividend and returns to shareholders
|
• |
Quarterly dividend raised from 12.5 €cents to 14.0 €cents per share. In addition we are proposing a further 1.5 €cents per share special dividend, giving a total of 15.5 €cents per share payable 6 May 2015 |
|
• |
On a "declared" basis, this results in 2014 dividends of 55.5 €cents (2013: 48.5 €cents), an increase of 14.4% over 2013 |
|
• |
Dividends paid in 2014 amounted to: 68% of Clean EBITDA and 79% of Clean Net Operating Cashflows |
|
• |
Total returns to shareholders since the completion of the acquisition of Sportingbet two years ago include a share price rise of over £2.00 and, including today's dividend declaration, total dividends announced of €1.04 per share |
2014 Financial highlights
|
• |
Impressive revenue growth resulting from increased marketing and a strong World Cup performance |
|
• |
Wagers up 25% to €1,464 million (2013: €1,170 million) |
|
• |
Sports Gross Margin 9.8% (2013: 9.6%) |
|
• |
Net Gaming Revenue ("NGR") up 32% to €225 million (2013: €170 million) |
|
• |
Contribution up 20% to €123 million (2013: €103 million) |
|
• |
Clean EBITDA up 28% to €49.2 million (2013: €38.3 million) |
|
• |
Profit Before Tax increased 217% to €41.3 million (2013: €13.0 million) |
2015 Current Trading (1.1.15 to 18.3.15 "Q1")
|
• |
Deposits up 20% to €1.7million per day |
|
• |
Q1-2015 wagers €4,601k per day up 22% on Q1-2014 (€3,765k) |
|
• |
Q1-2015 sports gross margin was 8.9% against 10.0% in same period in 2014 |
|
• |
Q1-2015 NGR €661k per day, up 18% on Q1-2014 (€559k) |
|
• |
Q1-2015 in-play revenues rose 19% to €300k per day (Q1-2014 €252k) |
|
|
|
Kenneth Alexander, Chief Executive of GVC Holdings PLC, commenting on the results said:
"During 2014 GVC continued to grow NGR, up by 32% in the year; it achieved a 22% EBITDA margin; and distributed 68% of its Clean EBITDA and 79% 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. I am delighted to announce, yet again, a proposed increase in the quarterly dividend along with a special dividend which in total amounts to a year-on-year increase of 14% in the dividends declared so that shareholders will receive a total of 15.5 €cents in May 2015. GVC has never been in a stronger position and we look forward to 2015 and beyond with confidence."
