News Archive

25 May 2012

Trading Update

GVC Holdings PLC (AIM:GVC), a leading provider of B2B and B2C services to the online gaming and sports betting markets, is pleased to provide the following updated trading data for the period from 1 January 2012 to 20 May 2012 along with comparatives for 2011.

Turnover across the Group for the period increased 168% to €279k per day (2011 €104k).

B2C division - turnover rose 7% to €105.2k per day (2011: €98.4k per day)

TURNOVER PER DAY in €000's






Period to 20 May
Year to



2012 2011
31-Dec-11







B2C
105.2 98.4
104.7
B2B
174.1 5.8
27.6



279.4 104.2
132.3







B2C





Betboo





Sports wagers
115.4 45.8
67.0

Sports Margin
8.5 5.9
7.2

Sports margin % 7.3% 12.8%
10.8%








Sports NGR
5.7 4.2
6.0

Gaming NGR
21.0 16.1
18.1



26.7 20.3
24.1

CasinoClub
78.5 78.0
80.5

TOTAL B2C
105.2 98.4
104.7

B2B division - turnover reached €174.1k per day following the entering into the service contract with East Pioneer Corporation B.V. ("EPC") on 22 November 2011. The figures in 2011 amounted to just €5.8k per day from trading in similar markets.

TURNOVER PER DAY in €000's






Period to 20 May
Year to



2012 2011
31-Dec-11
B2B





Sports wagers
1,377.0 73.0
226.1

Sports Margin
160.0 4.9
24.0

Sports margin % 11.6% 6.7%
10.6%








Sports NGR
136.4 3.3
17.9

Gaming NGR
37.7 2.5
9.7



174.1 5.8
27.6

Kenneth Alexander, Chief Executive of GVC, said: "We are extremely pleased with the performance in both divisions. B2C sports margins, have been adversely affected by favourable punter outcomes this year, which has suppressed an otherwise excellent start to the year. GVC's agreement with EPC is progressing well with daily turnover now exceeding €174k per day.

"Whilst economic conditions in Europe continue to be volatile, we remain cautiously optimistic for the year. The Group has today paid its shareholders an increased dividend of €11 cents per share, compared to the €10 cents per share GVC paid in 2010."

With the completed sale of Betaland, and an impending change in applicable accounting standards (IFRS 10), GVC has this opportunity to provide a restatement of its 2011 income statement and KPI's to aid investors and this is illustrated below.

INCOME STATEMENT RESTATEMENT
Ex-Betaland and showing gross EPC turnover











2011 2011 2011 2011
2010 2010 2010 2010

Original Betaland EPC Restated
Original Betaland EPC Restated

€000's €000's €000's €000's
€000's €000's €000's €000's










- B2B 6,128
3,944 10,072
-

-
- B2C 58,218 (20,006)
38,212
54,907 (22,278)
32,629
Turnover 64,346 (20,006) 3,944 48,284
54,907 (22,278) - 32,629










Contribution 24,709 (4,159) - 20,550
23,329 (4,205)
19,124










Expenditure (14,691) 2,523 - (12,168)
(11,165) 2,266
(8,899)










Clean EBITDA 10,018 (1,636) - 8,382
12,164 (1,939) - 10,225










Exceptional items (4,823) -
(4,823)
(4,428)

(4,428)










Share option charges (440) -
(440)
(482)

(482)










Depreciation and Amortisation (2,257) 233
(2,024)
(2,096) 386
(1,710)










Financial income & expense (2,382)

(2,382)
(1,080)

(1,080)










Profit before tax 116 (1,403) - (1,287)
4,078 (1,553) - 2,525










Sports stakes








B2B 44,453 - 38,082 82,535
-

-
B2C 76,279 (51,840)
24,439
69,313 (55,934)
13,379

120,732 (51,840) 38,082 106,974
69,313 (55,934) - 13,379

Note:

The adjustment to B2B turnover reflects the overall income attributable to EPC from their acquisition of Superbahis from Sportingbet plc

As the payments to Sportingbet plc are deducting from this figure, the contribution does not change

 

For further information:

GVC Holdings PLC  
Kenneth Alexander, Chief Executive Officer Tel: +44 (0) 20 7398 7702
Richard Cooper, Group Finance Director www.gvc-plc.com
   
Daniel Stewart & Company Plc Tel: +44 (0) 20 7776 6550
David Hart / Paul Shackleton / Jamie Barklem www.danielstewart.co.uk

Media enquiries:

Abchurch
Henry Harrison-Topham / Oliver Hibberd Tel: +44 (0) 20 7398 7702
henry.ht@abchurch-group.com www.abchurch-group.com

 

About GVC Holdings PLC

GVC Holdings PLC is a leading provider of B2B and B2C services to the online gaming and sports betting markets. The Group is headquartered in the Isle of Man and is licensed in Malta, and the Netherlands Antilles.

Further information on the Group is available at www.gvc-plc.com

 

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