Coral posts full year results

Impacted by regulatory headwinds and a comparative year that included the World Cup.

Gala Coral Group delivered an increase of 3.7 percent in EBITDA results but said after adjusting for regulatory impacts and the World Cup, EBITDA was 30 percent ahead.

Online EBITDA came in at GBP 56.2 million, 14 percent ahead of last year while net revenues grew 36 percent driven by the acquisition of 972,000 first time depositors.

Other key financial indicators for the full year period ending September 26, 2015 include:

Total Group net revenue amounted to GBP 1,005.4 million, up 60 million or 6.4 percent on FY2014 while total group profit weighed in at GBP 699.5 million, up 2.1 percent. Total Group EBITDA was reported at GBP 254.1 million, up 3.7 percent on FY2014.

Coral Retail’s net revenue was flat at GBP 675.9 million, posting a decline of GBP 10.8 million in gross profit, and an dip in EBITDA of GBP 1.8 million to GBP 141.2 million.

Eurobet Retail reported a loss of GBP 6.2 million in net revenue, a loss of GBP 3.8 million in gross profit and EBITDA was GBP 5.4 million down.

The company’s Online sector painted a rosier picture with net revenue’s of GBP 247.8, up GBP 65.2 million or 36 percent ahead of 2014. Gross profit was GBP 503.9 million, up GBP 10.8 million over 2014 and EBITDA was GBP 56.2 million, GBP 6.7 million or 14 percent up on 2014.

Coral Telebet net revenue came in at GBP 4.4 million, GBP 1.1 million up on the previous year. Gross Profit was GBP 3.8 million, GBP 700,000 more than 2014.

Carl Leaver, Group chief executive officer, commenting on the results said:

“The Group’s financial performance in the full year was strong, with EBITDA ahead by GBP 2.7 million or 1 percent despite significant regulatory headwinds, and last year’s World Cup. After adjusting for these items underlying EBITDA was 30 percent ahead.

“Growth in the Online business continued at market leading rates with net revenue 36 percent ahead and underlying EBITDA double the prior year.”