Internet betting giant Playtech plc has released its full year 2013 financial results, noting strong growth and higher cash balances.
Key financial indicators for the period ending December 31st, 2013 were:
Revenue up by 16% to €367.2 million (2012: €317.5 million)
Adjusted EBITDA excluding share of profit from William Hill Online, up by 17% to €159.4 million (2012: €136.2 million)
Adjusted net profit excluding share of profit from William Hill Online, up by 26% to €148.3 million (2012: €117.8 million); reported net profit including the gain on the sale of investment in William Hill Online of €488. 8 million
Adjusted basic earnings per share excluding share of profit from William Hill Online, up by 25% to 50.7 Euro cents per share (2012: 40.7 Euro cents per share)
Cash balances at year end of €527.4 million (2012: €120.9 million)
Record total 2013 dividend of approximately €188.5 million (64.3 Euro cents per share) reflecting a special dividend of £100 million to be paid in sterling (equivalent to approximately 34.1 pence per share), interim dividend of €22.8 million (7.8 Euro cents per share) and a recommended final dividend of €45.2 million (15.4 Euro cents per share)
Company highlights for the year were:
Successful sale of Playtech’s 29% stake in William Hill Online for approximately £424 million (€497 million) A 3.5 return on investment.
Landmark agreements with Ladbrokes to provide a full product suite and innovative marketing services (Ladbrokes launched the Vegas tab, Mobenga, and Geneity sports system and poker in Spain in the second half of 2013, and launched live casino in January 2014.)
Acquisition PokerStrategy.com, complementing Playtech’s poker offering and PTTS marketing services division
Several significant launches including:
Mobile live casino on HTML5 with a number of licensees
First launch of HTML5 mobile poker, mobile poker native iOS application approved by the French App store
Five sports betting companies now launched on Geneity platform, gaining strong momentum
Unibet launched poker in France
Caliente launched poker and casino in Mexico
Live casino in Spain being delivered in partnership with Casino Gran Madrid
Paddy Power migrated its live casino to Playtech including a dedicated facility
Betfair completed its migration onto the iPoker network, launched poker in Denmark and Italy making the Italian network a nine operator network
Industry-first roll-out of a unique, multi-channel offering through a seamless integrated retail and online solution
Soft launch of social gaming platform, Wild Spin Casino, on Facebook
Won competitive tender to supply casino, poker, bingo on both web and mobile with Holland Casino in preparation of forthcoming online gambling regulation in the Netherlands
Commenting on his company's performance Playtech Non-Executive Chairman Alan Jackson said, “Playtech has once again delivered an exceptional performance. The company has focused on deepening its licensee relationships; creating innovative new content; improving its products across web and mobile, and providing its customers with cutting edge products and services."
"As online gambling continues to develop, it is pleasing to see Playtech’s investment in mobile and further product development paying-off."
“I am delighted to announce the payment of a substantial special dividend totaling £100 million in addition to the recommended 15.4 Euro cents final dividend, bringing the total dividend for 2013 to over €188 million."