GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, is pleased to provide the following updated trading data for the period from 1 January 2012 to 20 May 2012 along with comparatives for 2011.
Turnover across the Group for the period increased 168% to €279k per day (2011 €104k).
B2C division – turnover rose 7% to €105.2k per day (2011: €98.4k per day)
| TURNOVER PER DAY in €000’s | ||||||
| Period to 20 May | Year to | |||||
| 2012 | 2011 | 31-Dec-11 | ||||
| B2C | 105.2 | 98.4 | 104.7 | |||
| B2B | 174.1 | 5.8 | 27.6 | |||
| 279.4 | 104.2 | 132.3 | ||||
| B2C | ||||||
| Betboo | ||||||
| Sports wagers | 115.4 | 45.8 | 67.0 | |||
| Sports Margin | 8.5 | 5.9 | 7.2 | |||
| Sports margin % | 7.3% | 12.8% | 10.8% | |||
| Sports NGR | 5.7 | 4.2 | 6.0 | |||
| Gaming NGR | 21.0 | 16.1 | 18.1 | |||
| 26.7 | 20.3 | 24.1 | ||||
| CasinoClub | 78.5 | 78.0 | 80.5 | |||
| TOTAL B2C | 105.2 | 98.4 | 104.7 | |||
B2B division – turnover reached €174.1k per day following the entering into the service contract with East Pioneer Corporation B.V. (“EPC”) on 22 November 2011. The figures in 2011 amounted to just €5.8k per day from trading in similar markets.
| TURNOVER PER DAY in €000’s | ||||||
| Period to 20 May | Year to | |||||
| 2012 | 2011 | 31-Dec-11 | ||||
| B2B | ||||||
| Sports wagers | 1,377.0 | 73.0 | 226.1 | |||
| Sports Margin | 160.0 | 4.9 | 24.0 | |||
| Sports margin % | 11.6% | 6.7% | 10.6% | |||
| Sports NGR | 136.4 | 3.3 | 17.9 | |||
| Gaming NGR | 37.7 | 2.5 | 9.7 | |||
| 174.1 | 5.8 | 27.6 | ||||
Kenneth Alexander, Chief Executive of GVC, said: “We are extremely pleased with the performance in both divisions. B2C sports margins, have been adversely affected by favourable punter outcomes this year, which has suppressed an otherwise excellent start to the year. GVC’s agreement with EPC is progressing well with daily turnover now exceeding €174k per day.
“Whilst economic conditions in Europe continue to be volatile, we remain cautiously optimistic for the year. The Group has today paid its shareholders an increased dividend of €11 cents per share, compared to the €10 cents per share GVC paid in 2010.”
With the completed sale of Betaland, and an impending change in applicable accounting standards (IFRS 10), GVC has this opportunity to provide a restatement of its 2011 income statement and KPI’s to aid investors and this is illustrated below.
| INCOME STATEMENT RESTATEMENT | |||||||||
| Ex-Betaland and showing gross EPC turnover | |||||||||
| 2011 | 2011 | 2011 | 2011 | 2010 | 2010 | 2010 | 2010 | ||
| Original | Betaland | EPC | Restated | Original | Betaland | EPC | Restated | ||
| €000’s | €000’s | €000’s | €000’s | €000’s | €000’s | €000’s | €000’s | ||
| – B2B | 6,128 | 3,944 | 10,072 | – | – | ||||
| – B2C | 58,218 | (20,006) | 38,212 | 54,907 | (22,278) | 32,629 | |||
| Turnover | 64,346 | (20,006) | 3,944 | 48,284 | 54,907 | (22,278) | – | 32,629 | |
| Contribution | 24,709 | (4,159) | – | 20,550 | 23,329 | (4,205) | 19,124 | ||
| Expenditure | (14,691) | 2,523 | – | (12,168) | (11,165) | 2,266 | (8,899) | ||
| Clean EBITDA | 10,018 | (1,636) | – | 8,382 | 12,164 | (1,939) | – | 10,225 | |
| Exceptional items | (4,823) | – | (4,823) | (4,428) | (4,428) | ||||
| Share option charges | (440) | – | (440) | (482) | (482) | ||||
| Depreciation and Amortisation | (2,257) | 233 | (2,024) | (2,096) | 386 | (1,710) | |||
| Financial income & expense | (2,382) | (2,382) | (1,080) | (1,080) | |||||
| Profit before tax | 116 | (1,403) | – | (1,287) | 4,078 | (1,553) | – | 2,525 | |
| Sports stakes | |||||||||
| B2B | 44,453 | – | 38,082 | 82,535 | – | – | |||
| B2C | 76,279 | (51,840) | 24,439 | 69,313 | (55,934) | 13,379 | |||
| 120,732 | (51,840) | 38,082 | 106,974 | 69,313 | (55,934) | – | 13,379 | ||
Note:
The adjustment to B2B turnover reflects the overall income attributable to EPC from their acquisition of Superbahis from Sportingbet plc
As the payments to Sportingbet plc are deducting from this figure, the contribution does not change
For further information:
| GVC Holdings PLC | |
| Kenneth Alexander, Chief Executive Officer | Tel: +44 (0) 20 7398 7702 |
| Richard Cooper, Group Finance Director | www.gvc-plc.com |
| Daniel Stewart & Company Plc | Tel: +44 (0) 20 7776 6550 |
| David Hart / Paul Shackleton / Jamie Barklem | www.danielstewart.co.uk |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Oliver Hibberd | Tel: +44 (0) 20 7398 7702 |
| henry.ht@abchurch-group.com | www.abchurch-group.com |
About GVC Holdings PLC
GVC Holdings PLC is a leading provider of B2B and B2C services to the online gaming and sports betting markets. The Group is headquartered in the Isle of Man and is licensed in Malta, and the Netherlands Antilles.
Further information on the Group is available at www.gvc-plc.com