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Takeover Eats Into GVC Profits; partypoker Grows For First Time in Five Years
- Updated: April 27, 2016
Earlier this week, GVC Holdings published its full-year financial figures for 2015, which revealed that its Earnings Before Interest, Taxes, Depreciations and Amortization (EBITDA) had increased 10 percent to a record €54.1 million.
EBITDA is a popular indicator preferred by many companies, as it can be used to analyze and compare the profitability between companies and industries as it eliminates the effects of accounting and financing decisions, therefore painting a picture of a company’s health.
However, profit before taxation fell 38 percent to €25.5 million, which was mostly down the exceptional costs associated with the reverse takeover of bwin.party digital entertainment plc, which weighed in at some €23 million. Once tax is taken into account, the combined group posted a loss of €12.4 million.
Despite the loss, Kenneth Alexander, the Chief Executive of GVC Holdings, was delighted with the performance of the company, particularly the fact EBITDA and dividends increased for the firth …
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