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Annual Report & Accounts 2012 - NOTES
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GVC HOLDINGS PLC NOTES TO THE FINANCIAL STATEMENTS 2011 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 - 24,439 24,439 82,535 - 106,974 Sports margin 10.8% 10.8% 10.6% 10.6% Gross margin - 2,629 2,629 8,759 - 11,388 Sports NGR - 2,193 2,193 6,546 - 8,739 Gaming NGR 29,399 6,620 36,019 3,247 - 39,266 Other revenue from customers - - - 280 - 280 29,399 8,813 38,212 10,073 - 48,285 Revenue recognised by GVC 29,399 8,813 38,212 6,128 - 44,340 Revenue recognised by B2B partners - - - 3,945 - 3,945 29,399 8,813 38,212 10,073 - 48,285 SEGMENTAL REPORTING Total revenue 29,399 8,813 38,212 6,128 - 44,340 Variable costs (13,923) (6,532) (20,455) (3,335) (23,790) - Contribution 15,476 2,281 17,757 2,793 - 20,550 Other operating costs (note 4) (5,810) (3,763) (9,573) (2,595) - (12,168) Clean EBITDA 9,666 (1,482) 8,184 198 - 8,382 Exceptional items (note 4.1) (334) - (334) (3,585) - (3,919) Share option charges - - - - (440) (440) EBITDA 9,332 (1,482) 7,850 (3,387) (440) 4,023 Depreciation and amortisation (457) (1,344) (1,801) (223) - (2,024) Financial (expense)/income* - (2,387) (2,387) 1 1 (2,385) Profit/(loss) before tax 8,875 (5,213) 3,662 (3,609) (439) (386) Taxation (162) - (162) - (74) (236) Profit/(loss) after tax from continuing operations 8,713 (5,213) 3,500 (3,609) (513) (622) Net assets Non-current assets 56,151 5,436 61,587 5,917 272 67,776 Current assets 3,866 2,801 6,667 8,698 5,000 20,365 Current liabilities (3,978) (1,271) (5,249) (8,719) (4,059) (18,027) Net current assets (112) 1,530 1,418 (21) 941 2,338 Long term liabilities - (12,940) (12,940) - - (12,940) Net assets 56,039 (5,974) 50,065 5,896 1,213 57,174 Total assets 60,017 8,237 68,254 14,615 5,272 88,141 Total liabilities (3,978) (14,211) (18,189) (8,719) (4,059) (30,967) OTHER INFORMATION AND KPI's Revenue per day 81 24 105 17 - 121 Contribution margin 53% 26% 46% 46% - 46% Sports wagers per day - 67 67 226 - 293 * includes the unwinding of the discount on the deferred consideration arising from the acquisition of Betboo It is not deemed appropriate to allocate share option charges and financial income by operating segment. 35