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Annual Report & Accounts 2014 - NOTES
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2. seGmental RepoRtinG continued 2.2 Reporting by segment the total deferred tax asset located in europe is €nil (2013: €nil). there are no deferred tax assets in other regions. Revenues from external customers in the group's domicile, europe, as well as its major markets, europe and Latin America, have been identified on the basis of the customer's geographical location. non-current assets are allocated based on their physical location. 2014 2013 notes €000's €000's statement of ReVenue sports wagers 1,463,523 1,169,505 Sports margin 9.8% 9.6% gross margin 143,544 112,081 sports ngR 110,199 90,823 gaming ngR 114,602 91,302 224,801 182,125 Revenue recognised by gVc 224,801 169,959 Revenue recognised by B2B partners (up until 19 march 2013) - 12,166 proforma Revenue 224,801 182,125 seGmental RepoRtinG net Gaming Revenue 224,801 169,959 Variable costs (101,513) (67,328) contribution 123,288 102,631 Contribution margin 55% 60% Proforma contribution margin 55% 57% other operating costs 3 personnel expenditure (43,055) (32,507) professional fees (4,489) (2,523) technology costs (20,991) (19,795) office, travel and other costs (5,248) (5,146) third party service costs (3) (2,427) Foreign exchange differences (340) (1,934) clean eBitda 49,162 38,299 exceptional items 3 - (19,711) share option charges 3 (736) (730) effect of valuing the Betit put option 9 (1,593) - eBitda 46,833 17,858 Depreciation and amortisation 3 (3,912) (3,740) Financial income 4 16 627 Financial expense 4 (869) (11) Finance lease interest 4 (67) (43) unwinding of discount on deferred consideration 4 (710) (1,677) profit before tax 41,291 13,014 taxation 5 (728) (711) profit after tax from continuing operations 40,563 12,303 ANNUAL REPORT 2014 38 notes to the consolidated financial statements continued for the year ended 31 december 2014