Key points
● Total revenue was €296.5m (2014: €317.1m) reflecting the absence of the FIFA World Cup, lower margins in sports, market declines in poker and the impact of EU VAT in certain markets; nationally regulated and/or taxed markets represented 60% of total revenue (2014: 56%)
● Gross gaming revenue through mobile/touch grew by 50% and now represents 30% of overall GGR (2014: 19%) with growth across all verticals
● Clean EBITDA~ up by 2% to €47.3m (2014: €46.4m) despite being impacted by lower revenue and higher taxes. Excluding the impact of EU VAT and the POCT, Clean EBITDA would have increased by 24% to €57.7m (2014: €46.4m)
● On-track to meet or exceed €15m incremental cost saving target this year
● Total consideration received from the sale of non-core assets of €37.1m, in-line with previous guidance. Net cash* at 30 June 2015 of €58.1m (31 December 2014: €34.6m)
● Basic EPS of €0.4 cents (2014: loss of €11.4 cents)
● Current trading: absence of a major football tournament and EU VAT meant that in the 8 weeks to 25 August 2015 average daily net revenue was down 9% versus the same period in 2014; Board remains confident about full year outlook
● Whilst discussions with GVC are continuing, there has been no change to the Board's recommendation for 888's offer and the associated shareholder documents are expected to be sent to shareholders shortly
● Recommended half year dividend up 2% to 1.92 pence per share (2014: 1.89 pence)
