for arrangements with multiple performance obligations, variable pricing, customer refund rights, supplier repurchase options,
and other common complexities. iFRs 15 is effective for reporting periods beginning on or after 1 January 2017. the group's
management have not yet assessed the impact of iFRs 15 on these consolidated financial statements.
1.22.3 Amendments to iFRs 11 Joint Arrangements
these amendments provide guidance on the accounting for acquisitions of interests in joint operations constituting a
business. the amendments require all such transactions to be accounted for using the principles on business combinations
accounting in iFRs 3 'Business combinations' and other iFRss except where those principles conflict with iFRs 11.
Acquisitions of interests in joint ventures are not impacted by this new guidance.
the amendments are effective for reporting periods beginning on or after 1 January 2016. the group's management have
yet to assess the impact of iFRs 11 on these consolidated financial statements.
the group has restated the consolidated statement of cashflows for the year ended 31 December 2013. the non-interest
bearing loan from William hill is now reflected in financing activities rather than investing activities. this has revised net
cash from investing activities in 2013 to €58,369,000 from the previously stated €66,389,000 and net cash from financing
activities to €(38,049,000) from the previously stated €(46,069,000).
the group has restated the consolidated income statement to reflect income from customers previously netted-off with cost
of sales, the impact of which is shown in the table below:
original Restatements Restated
year ended 31 December 2013 €000's €000's €000's
Revenue 168,407 1,552 169,969
cost of sales (65,776) (1,552) (67,328)
contribution 102,631 - 102,631
2. seGmental RepoRtinG
management follows one business line with two operating segments, being sports and gaming segmenting the revenues.
these operating segments are monitored and strategic decisions are made on the basis of overall operating results.
management also monitors revenue by geographic location of its customers, monitoring performance in europe and Latin
2.1 Geographical analysis
the group's revenues and other income from external customers are divided into the following geographic areas:
europe 197,442 148,010
Latin America and emerging markets 27,359 21,949
total 224,801 169,959
the total non-current assets (other than financial instruments, investments accounted for using the equity method, deferred
tax assets and post-employment benefit assets) located in europe is €148,454,000 (2013: €146,381,000) and the total
located in other regions is €10,754,000 (2013: €8,387,000).
GVC HOLDINGS PLC ANNUAL REPORT 2014 37
notes to the consolidated financial statements