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Annual Report & Accounts 2012 - NOTES
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ANNUAL REPORT 2012 GVC H o l d i n g s 2. SEGMENTAL REPORTING (continued) 2.2 Reporting by Segment 2012 Unallocated Total central CasinoClub Betboo B2C B2B costs Total €000's €000's €000's €000's €000's €000's STATEMENT OF TURNOVER Sports wagers - 44,117 44,117 474,814 - 518,931 Sports margin 8.5% 8.5% 11.6% 11.3% Gross margin - 3,752 3,752 54,895 - 58,647 Sports NGR - 2,628 2,628 45,385 - 48,013 Gaming NGR 28,134 7,664 35,798 17,975 - 53,773 Other revenue from customers - - - 2,378 - 2,378 28,134 10,292 38,426 65,738 - 104,164 Revenue recognised by GVC 28,134 10,292 38,426 21,170 - 59,596 Revenue recognised by B2B partners - - - 44,568 - 44,568 28,134 10,292 38,426 65,738 - 104,164 SEGMENTAL REPORTING Total revenue 28,134 10,292 38,426 21,170 - 59,596 Variable costs (11,797) (6,720) (18,517) (5,996) - (24,513) Contribution 16,337 3,572 19,909 15,174 - 35,083 Other operating costs (note 4) (6,778) (4,977) (11,755) (7,876) - (19,631) Clean EBITDA 9,559 (1,405) 8,154 7,298 - 15,452 Exceptional items (note 4.1) 208 - 208 - - 208 Share option charges - - - - (79) (79) EBITDA 9,767 (1,405) 8,362 7,298 (79) 15,581 Depreciation and amortisation (534) (1,533) (2,067) (479) (1) (2,547) Financial (expense)/income* - (2,206) (2,206) - 2 (2,204) Profit/(loss) before tax 9,233 (5,144) 4,089 6,819 (78) 10,830 Taxation (369) - (369) (21) (90) (480) Profit/(loss) after tax from continuing operations 8,864 (5,144) 3,720 6,798 (168) 10,350 NET ASSETS Non-current assets 56,016 3,907 59,923 6,161 92 66,176 Current assets 4,341 2,696 7,037 15,847 2,047 24,931 Current liabilities (1,440) (1,188) (2,628) (13,596) (4,129) (20,353) Net current assets 2,901 1,508 4,409 2,251 (2,082) 4,578 Long term liabilities - (12,283) (12,283) - - (12,283) Net assets 58,917 (6,868) 52,049 8,412 (1,990) 58,471 Total assets 60,357 6,603 66,960 22,008 2,139 91,107 Total liabilities (1,440) (13,471) (14,911) (13,596) (4,129) (32,636) OTHER INFORMATION AND KPI's Revenue per day 77 28 105 58 - 163 Contribution margin 58% 35% 52% 72% - 59% Sports wagers per day - 121 121 1,297 - 1,418 * includes the unwinding of the discount on the deferred consideration arising from the acquisition of Betboo 34 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS continued for the year ended 31 December 2012