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February 27th, 2019

Year-end Report January - December 2018 | Q4

October-December 2018 (compared to October-December 2017)

  • - Revenues totalled EUR 4.94 (2.73) million, an increase of 81% of which 62% was organic growth
  • - Adjusted EBITDA excluding non-recurring costs totalled EUR 1.60 (0.84) million, an increase of 92%, corresponding to an adjusted EBITDA margin of 32 (31) %
  • - EBITDA totalled EUR 1.44 (0.75) million, an increase of 93%, corresponding to an EBITDA margin of 29 (27) %
  • - Net cash generated from operating activities was EUR 0.61 (0.47) million 
  • - New Depositing Customers (NDCs) totalled 24,838 (10,342), an increase of 140%

January-December 2018 (compared to January-December 2017)

  • - Revenues totalled EUR 16.23 (9.97) million, an increase of 63% of which 37% was organic growth
  • - Adjusted EBITDA excluding non-recurring costs totalled EUR 5.82 (3.17) million, an increase of 84%, corresponding to an adjusted EBITDA margin of 36 (32) %
  • - EBITDA totalled EUR 4.98 (2.95) million, an increase of 69%, corresponding to an EBITDA margin of 31% (30%)
  • - Net cash generated from operating activities was EUR 4.30 (2.78) million
  • - New Depositing Customers (NDCs) totalled 74,838 (36,342), an increase of 106%

Significant Events During the Fourth Quarter 2018 

  • - EUR 7,100,000 Convertible Notes Issue 2017/2019 (the “2019 Notes”) | Through bilateral agreements with holders of the 2019 Notes, the group has agreed on the redemption of 63% of the outstanding principal. The remaining principal will mature on June 30th, 2019. 
  • - EUR 8,900,000 Convertible Notes Issue 2017/2020 (the “2020 Notes”) | The Group has exercised its rights under the amended terms of the Note Purchase Agreement and has redeemed all of the 2020 Notes.
  • - EUR 16,000,000 Senior Secured Fixed-Rate Bond Issue 2018/2021 (the “2021 Bond”) | The Group issued a senior secured bond in the amount of EUR 16,000,000 under a total framework of EUR 25,000,000. The bonds were listed on Nasdaq Stockholm on 4th December 2018. 
  • - Agreement of final Deferred Consideration | The asset purchase agreement governing one of the assets acquired in February 2017 was amended, cancelling the remaining earn-out payments along with warrants issued to the seller in exchange for a final payment of GBP 300,000 paid in November 2018.  
  • - Amended Payment Terms for Deferred Consideration | The asset purchase agreement governing the acquisitions of a mobile performance marketing network acquired in January 2018 was amended so that 60% of the total expected earnout was paid in November 2018 and 40% was deferred from January and March 2019 to August 2019.  
  • - EGR Affiliate of the Year Award | The Group prevailed at the 2018 edition of the EGR Operator Awards taking home the top affiliate award in the online gambling industry: The Affiliate of the Year Award. This is the first time that the Group has won the award.  
  • - EGR Casino Affiliate Award | Also at the 2018 EGR Operator Awards, the Group claimed the Casino Affiliate award for the first time, having previously won the Gaming Affiliate award in 2014.

Significant Events After the Reporting Period

  • - Department of Justice Wire Act Re-Interpretation | The United States Department of Justice released an opinion which re-interpreted the Department’s own opinion on the Wire Act from 2011. The ramifications of the new opinion are not yet clear but could create headwinds for the roll-out of regulated online gambling in the United States. 
  • - Regulation of Swedish Online Gambling Market | As of January 1, 2019 the Swedish market is locally regulated and taxed. We have seen our Swedish assets perform well in terms of NDC productions but also seen a commensurate decrease in player value. 

"The Group delivered, again, a record quarter in terms of revenue, EBITDA and Adjusted EBITDA as a result of substantial, ongoing organic revenue growth amounting to 62% for the fourth quarter and 37% for the full year."

Charles Gillespie, Chief Executive

This information is information that Group Plc is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 27 February 2019.


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About Group Plc. Group Plc is a multi-award winning provider of digital marketing services for the global iGaming industry. Founded in 2006, the group has a workforce of over 80 and operates from offices in Dublin, Tampa, Monaco and Malta. The group publishes websites that offer comparisons and reviews of online gambling websites in 15 national markets in 9 languages. Players use these resources to select which online gambling operators they should trust to offer a safe and honest online gambling experience. The group’s publishing assets include the leading iGaming industry portal,® as well as and the CasinoSource℠ series of portals, among many others.