23 Feb 2017
Full year results presentation
- Revenue up 24% to record €457.0 million (2013: €367.2 million)
- Adjusted EBITDA* up 30% to record €207.1 million (2013: €159.4 million)
- Adjusted net profit* attributable to the owners of the parent up 29% to €190.8 million (2013: €148.3 million)
- Reported net profit attributable to the owners of the parent €140.3 million (2013: €488.6 million)
- Adjusted basic EPS* up 28% to 65.0 € cents per share (2013: 50.7 € cents per share)
- Cash balances at year end of €692.3 million (2013: €527.4 million)
- Recommended final dividend of 17.5 € cents (2013: 15.4 € cents), giving a total 2014 dividend of 26.4 € cents (2013: 23.2 € cents)
* Adjusted numbers are calculated after adding back certain non-cash charges, cash expenses relating to professional costs on acquisitions, gains on sale of investments, share of profit from WHO in 2013, non-cash accrued interest in respect of the convertible bond and certain one-off charges (see reconciliation in Financial and Operating Overview below).
For the year ended 31 December 2014, Playtech again achieved an exceptional performance, with total revenues up 24% to €457.0 million and Adjusted EBITDA increasing 30% to €207.1 million, demonstrating further progress in executing our proven strategy.
The Group continues to be highly cash generative, driving progress through strong organic growth, successful acquisitions, strategic partnerships and joint ventures, as demonstrated throughout this year. Playtech’s impressive results have been achieved through the continued growth of its flagship casino product; PTTS services division; strong growth in sport as well as expansion of our mobile and land-based offerings. It is also pleasing to see a progressive improvement in the proportion of revenues generated from regulated markets. The industry is in the midst of a transition towards regulation and the Group is ideally placed to continue taking advantage of this trend.
In order to better position the business for future opportunities the Group successfully issued a convertible bond in November, which was oversubscribed. The Board remains focused on the most effective use of the Group’s cash resources, including the potential for further strategic activity. The focus here remains that of growing Playtech’s presence in regulated and soon-to-be regulated markets, via bolt-on or more strategic acquisitions and partnerships.