For the first time since their momentous merger back in February this year, Paddy Power Betfair have released their financial results. Both companies have agreed on the merger since October 2015.
The profit results were reported both separately and combined by each company, to give us a clearer view of what they're individually bringing to the partnership. Paddy Power has figures throughout the whole 2015 period. Betfair released figures for the final 3 months of 2015, ending on the 31st January. The combined figures were for the entirety of 2015.
Paddy Power Betfair Breakdown
This is everything we know about Paddy Power and Betfair individually and as a complete merger.
Paddy Power Earnings
Paddy Power's reported net revenue for 2015 came in at €1.09 Billion, which is the first time they've ever managed to pass over the Billion dollar mark. This is a 24% increase in their profits from previous years.
Paddy Power saw similar rises across the board when it came to every aspect of their profits.
- Their profit before tax increased by 8% to €179.7 Million
- Operating profit increased by 10% to €180.4 Million
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) went up by 10% as well
- Share values went up by 12% to 332.8 cents
Betfair had much less growth than Paddy Power individually, however, there was a lot less information given when it came to their earnings and the time frame given. Overall, Betfair's profit went up by 21% this year to £138.3 Million, having increased by much the same in previous years.
Not all areas of the company are showing to be increasing steadily, with the EBITDA of the company only shifting slightly from 23.6 Million to £26 Million.
Paddy Power Betfair Earnings
Because of the differing slices of data that have been released, it makes it hard to get complete the picture of who's putting what into the merger.
What we do know is, that as predicted by the size of the giants that make up the company, it's still got the largest net revenue of any company in the industry.
The total net revenue for Paddy Power Betfair came to £1.32 Billion, with £748 Million coming from their online sectors, making up 72% of the total net revenue.
The profits were equally impressive, totalling £1.01 Billion, with an EBITDA of £295.7 Million.