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Annual Report & Accounts 2015 - NOTES
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2.3 detailed income statement 2015 2014 Notes €000's €000's net Gaming revenue 247,730 224,801 Variable costs* (112,369) (101,513) contribution 135,361 123,288 Contribution margin 55% 55% other operating costs 3 Personnel expenditure (including incentive arrangements) (48,454) (43,055) Professional fees (4,662) (4,489) technology costs (23,659) (20,991) office, travel and other costs (3,471) (5,248) third party service costs - (3) Foreign exchange differences (1,038) (340) clean eBitda 54,077 49,162 exceptional items 3 (24,496) - share option charges 3 (449) (736) impairment of available for sale asset 9 (1,216) (1,593) movement in fair value of derivative financial instruments 10 4,817 - eBitda 32,733 46,833 depreciation and amortisation 3 (4,985) (3,912) Financial income 4 4 16 Financial expense 4 (2,110) (869) Finance lease interest 4 (82) (67) Unwinding of discount on deferred consideration 4 (54) (710) profit before tax 25,506 41,291 taxation 5 (847) (728) profit after tax from continuing operations 24,659 40,563 * Variable costs include betting taxes & VAT, payment service provider charges, software royalties, chargebacks & bad debt, commissions and marketing costs 2.4 performance summary by six month period total €000's €000's revenue h2-2015 126,814 h1-2015 120,916 -------- fy-2015 247,730 h2-2014 119,735 h1-2014 105,066 -------- FY-2014 224,801 contribution h2-2015 69,960 h1-2015 65,401 -------- fy-2015 135,361 h2-2014 66,566 h1-2014 56,722 -------- FY-2014 123,288 clean eBitda h2-2015 28,592 h1-2015 25,485 -------- fy-2015 54,077 h2-2014 26,808 h1-2014 22,354 -------- FY-2014 49,162 GVC HOLDINGS PLC ANNUAL REPORT 2015 63 notes to the consolidated financial statements