Mr. Green Online Casino Group Maintains Growth

MR. GREEN ONLINE CASINO GROUP MAINTAINS GROWTH

20th February, 2015 at 21:28:05
Source: http://www.azonlinecasinos.com

Revenues soar, but there's a tax issue clouding the future.

The Q4-2014 results from the Mr.Green online casino group had good and bad news for investors this week; y-o-y revenues soared 28.3 percent, but the company is bracing itself for the impact of a possible tax hit from the Austrian government.

Mr.Green executives this week claimed the group's performance had outstripped that of the industry

average, estimated at 13% in growth terms, and that the enterprise continues to capture market

share.

In the fourth quarter, game win and other revenue increased by a full 28.3% to SEK 174.8 million (136.2), compared with the year-earlier period.

EBITDA excluding items affecting comparability for the fourth quarter was SEK 17.0 million (18.7), down 9.4 per cent at SEK 134.8 million. However, Management was upfront in reporting that the company's EBITDA had been impacted by Austrian tax disputes, requiring the setting aside of a SEK108 million contingency charge.

The potential tax charge could see MrGreen post a negative EBITDA of SEK -95.1 million (Q4 2013

EBITDA ‚EUR“ SEK18.7 million).

On a full year 2014 basis, EBITDA excluding items affecting comparability was SEK 134.8 million (106.8), up 26.2 per cent.

Items affecting comparability amounted to a negative SEK 112.1 million (neg: 4.7) over the year. The

items affecting comparability mainly comprise the provision for the Austrian tax dispute (SEK 108.1

million), while the remaining SEK 4 million consists of restructuring costs of a non-recurring nature that were charged for the purpose of realising synergies and more efficient organisation of the operations.

EBIT for the fourth quarter was a negative SEK 110.4 (pos: 6.6) million.

Revenue for the full year amounted to SEK 659.4 million (483.9), up 36.3 per cent.

The Board proposed a dividend corresponding to SEK 1.30 per share.

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