Financial highlights
Pro forma Net Gaming Revenue up 9% to €894.6m (+12% in constant currency)
Pro forma Clean EBITDA up 26% to €205.7m
Adjusted Profit Before Tax €93.8m vs €46.4m in 2015
Second special dividend euro 15.1c, giving total euro 30c dividends declared for FY 2016
Net debt €131.5m just 0.6x Clean EBITDA
Long-term refinancing secured with oversubscribed institutional debt issue
Operational highlights
Successful integration of bwin.party
Improved platform stability and significantly improved product offering
Sports Labels pro forma NGR up 14% (+16% in constant currency)
Improved sports win margin to 9.6% (2015: 8.6%)
Pro forma gaming NGR from the acquired bwin sports labels up 26%, while value of first time deposits +37%
Games Labels pro forma NGR down 4% (flat in constant currency), H2 pro forma NGR up 4% in constant currency
On target to achieve €125m synergy run rate at end of 2017
95% of Group revenues derived/processed through our proprietary platform
Current trading
Pro forma daily NGR up 15% (+16% constant currency) in Q1
Pro forma daily Sports Labels NGR +18% (+19% constant currency)
Pro forma daily Games Labels NGR + 6% (+8% constant currency)
Kenneth Alexander, CEO, said:
"The acquisition of bwin.party in February 2016 was our most ambitious transaction to date and through the hard work of our people we have once again demonstrated our ability to create significant shareholder value through selected acquisitions. Our strategy of pursuing international diversification and scale through leveraging our proprietary technology, is more appropriate today than at any time in our history. The organic growth opportunity is equally exciting and we are confident of delivering further growth in 2017."
