Preliminary Results and Trading Update

Clarissa Elsner

GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, today announces its Preliminary Results for the year ended 31 December 2011 and a Trading Update to 22 April 2012.


The results are available to download in PDF format.


  • Total revenues increased by 17% to €64.3 million (2010: €54.9 million), the fifth successive year of increased revenues
  • Clean EBITDA* of €10.0 million (2010: €12.2 million) following planned investments in marketing and TV campaigns in the Group’s B2C brands
  • 10% rise in final dividend and ahead of market expectations at 11 €cents per share (2010: 10 €cents per share) providing a total dividend of 21 €cents per share for 2011
  • Calendar year 2013, intention to pay dividends quarterly
  • B2C markets performing well, revenue up 6% on 2010
  • Successful diversification into B2B markets with support agreement with East Pioneer Corporation B.V. (“EPC”) effective late November 2011

Trading Update (113 day period to 22 April and excluding Betaland)

  • 57% increase in average daily revenues to €160k (2011: €102k)
  • 165% increase in B2C sports wagers
  • €56.1k per day of B2B revenues
  • Revenues increased despite some unusually high casino winners across both B2C and B2B along with a softness in the B2C sports margin percentage at 7.6% (2011: 11%) through punter-friendly results

* 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: “2011 was a significant year for the Group as we moved into providing B2B services for the first time with our support agreement with EPC. This marks a change of direction for the Group away from pursuing growth in pure B2C markets, and this has continued with the disposal of Betaland earlier this month. Revenues have seen a fifth successive year of increase, against a backdrop of tight consumer spending across the Group’s core markets and the decline of poker revenues across the industry.

“Trading in 2012 has started encouragingly, despite some unusually high casino winners across both B2C and B2B along with a softness in the B2C sports margin percentage through punter-friendly results. The Latin American business continues to grow with sports wagers 165% higher than the same period last year.

“Today we are pleased to announce a final dividend of 11 €cents per share, which is 10% higher than the final dividend for 2010 and ahead of market expectations. The Board recognises the importance of a more regular income stream to our shareholders and to reflect this, the Group announces today that it is going to move towards paying dividends quarterly beginning in February 2013. The Board believes that the Group’s dividend policy reflects our confidence for 2012 and we remain cautiously optimistic that the Group is well placed for both medium and longer-term growth.”


For further information:

GVC Holdings PLC
Kenneth Alexander, Chief Executive Officer Tel: +44 (0) 20 7398 7715
Richard Cooper, Group Finance Director
Daniel Stewart & Company Plc Tel: +44 (0) 20 7776 6550
David Hart / Paul Shackleton / Jamie Barklem

Media enquiries:

Henry Harrison-Topham / Oliver Hibberd Tel: +44 (0) 20 7398 7714