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Annual Report & Accounts 2013 - REPORT OF THE GROUP FINANCE DIRECTOR
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GVC HOLDINGS PLC ANNUAL REPORT 2013 9 The financial information for the Group reflects the consolidation of Sportingbet* for the 287 days from 19 March 2013. The business is now largely integrated and the Group now presents its results as a single entity, including both CasinoClub and the B2B activities. Table 1: Summary of key financial measures In €millions 2013 2012 Change % change Sports wagers 1,169.5 518.9 +650.6 +125% - sports from Sportingbet 661.9 - +661.9 - sports from existing businesses 507.6 518.9 -11.3 Sports margin 9.6% 11.3% -170bps -15% Sports revenue 90.8 50.6 +40.2 Gaming revenue 89.8 56.5 +33.3 - gaming from Sportingbet 35.2 - +35.2 - gaming from existing businesses 54.6 56.5 -1.9 Total proforma revenue 180.6 107.1 +73.5 +69% - from Sportingbet 86.1 - +86.1 - from existing businesses 94.5 107.1 -12.6 Total NGR 168.4 60.3 +108.1 +179% - NGR acquired from Sportingbet 74.7 - +74.7 - NGR from existing business 93.7 60.3 +33.4 Contribution 102.6 36.5 +66.1 +181% Contribution divided by PFR = 57% 34% +23% - Contribution from Sportingbet 42.0 - +42.0 - Contribution from existing brands 60.6 36.5 +24.1 Expenditure (64.3) (21.0) +43.3 Clean EBITDA 38.3 15.5 +22.8 +148% Clean EBITDA/proforma revenue 21% 14% +7% PBT and exceptional items 32.7 10.6 +22.1 +208% Exceptional items (19.7) 0.2 -19.9 Taxation (0.7) (0.5) -0.2 Discontinued activities - (1.1) +1.1 Profit after taxation 12.3 9.2 3.1 +34% Normalised, non dilutive EPS in €cents 58.6 32.1 +26.5 +83% Dividend paid / share in €cents 28.0 26.0 +2.0 +8% Dividends declared / share in €cents 48.5 22.0 +26.5 +120% Operating cashflows 19.8 4.8 +15.0 +312% Dividends paid (15.0) (8.2) +6.8 +83% Cash and cash in transit 37.1 20.0 +17.1 Customer liabilities (13.3) (1.7) -11.6 Net current assets 0.3 4.6 -4.5 Non-current liabilities (14.0) (12.3) -1.7 Shareholder funds 141.1 58.5 82.6 +141% Number of shares in issue 60,906,760 31,592,172 29,314,588 +93% Number of shares under option 3,801,667 3,698,180 103,487 * Excluding Australia and certain other assets along with Sportingbet's Spanish business past over to William Hill from 16 September 2013. REPORT OF THE GROUP FINANCE DIRECTOR BUSINESS REVIEW