BERMUDA | 0-24796 | 98-0438382 |
(State or other jurisdiction of incorporation and organisation) | (Commission File Number) | (IRS Employer Identification No.) |
O'Hara House, 3 Bermudiana Road, Hamilton, Bermuda | HM 08 | |
(Address of principal executive offices) | (Zip Code) |
Date: | April 9, 2015 | /s/ David Sturgeon | ||
David Sturgeon | ||||
Executive Vice President and Chief Financial Officer |
(unaudited) | |||||||||||||||||||
For the Three Months Ended, | For the Year Ended, | ||||||||||||||||||
Net revenues | March 31, 2014 | June 30, 2014 | September 30, 2014 | December 31, 2014 | December 31, 2014 | ||||||||||||||
Bulgaria | $ | 19,276 | $ | 23,912 | $ | 17,711 | $ | 26,179 | $ | 87,078 | |||||||||
Croatia | 13,497 | 19,470 | 10,917 | 18,142 | 62,026 | ||||||||||||||
Czech Republic | 39,033 | 59,299 | 38,080 | 66,367 | 202,779 | ||||||||||||||
Romania | 36,857 | 49,431 | 37,180 | 55,146 | 178,614 | ||||||||||||||
Slovak Republic | 18,146 | 24,211 | 17,679 | 30,520 | 90,556 | ||||||||||||||
Slovenia | 14,261 | 17,585 | 9,598 | 19,926 | 61,370 | ||||||||||||||
Intersegment revenues(1) | (365 | ) | (1,097 | ) | (84 | ) | (84 | ) | (1,630 | ) | |||||||||
Total net revenues | $ | 140,705 | $ | 192,811 | $ | 131,081 | $ | 216,196 | $ | 680,793 |
(unaudited) | |||||||||||||||||||
For the Three Months Ended, | For the Year Ended, | ||||||||||||||||||
Net revenues | March 31, 2013 | June 30, 2013 | September 30, 2013 | December 31, 2013 | December 31, 2013 | ||||||||||||||
Bulgaria | $ | 16,424 | $ | 24,245 | $ | 17,925 | $ | 28,854 | $ | 87,448 | |||||||||
Croatia | 12,093 | 17,796 | 10,938 | 21,037 | 61,864 | ||||||||||||||
Czech Republic | 32,083 | 42,728 | 35,983 | 64,145 | 174,939 | ||||||||||||||
Romania | 33,187 | 42,311 | 34,820 | 51,987 | 162,305 | ||||||||||||||
Slovak Republic | 16,923 | 22,000 | 13,275 | 30,206 | 82,404 | ||||||||||||||
Slovenia | 14,476 | 18,724 | 10,212 | 23,244 | 66,656 | ||||||||||||||
Intersegment revenues(1) | (1,067 | ) | (1,115 | ) | (135 | ) | (165 | ) | (2,482 | ) | |||||||||
Total net revenues | $ | 124,119 | $ | 166,689 | $ | 123,018 | $ | 219,308 | $ | 633,134 |
(unaudited) | |||||||||||||||||||
For the Three Months Ended, | For the Year Ended, | ||||||||||||||||||
OIBDA | March 31, 2014 | June 30, 2014 | September 30, 2014 | December 31, 2014 | December 31, 2014 | ||||||||||||||
Bulgaria | $ | (2,746 | ) | $ | 5,634 | $ | 2,162 | $ | 4,317 | $ | 9,367 | ||||||||
Croatia | 671 | 4,856 | (549 | ) | 2,857 | 7,835 | |||||||||||||
Czech Republic | 2,713 | 20,700 | 9,694 | 28,857 | 61,964 | ||||||||||||||
Romania | 4,326 | 11,774 | 4,885 | 16,274 | 37,259 | ||||||||||||||
Slovak Republic | (3,162 | ) | 3,060 | (2,070 | ) | 6,758 | 4,586 | ||||||||||||
Slovenia | 515 | 2,690 | (3,439 | ) | 5,565 | 5,331 | |||||||||||||
Elimination | 385 | (63 | ) | 30 | (368 | ) | (16 | ) | |||||||||||
Total Operating Segments | 2,702 | 48,651 | 10,713 | 64,260 | 126,326 | ||||||||||||||
Corporate | (6,097 | ) | (7,841 | ) | (7,776 | ) | (9,166 | ) | (30,880 | ) | |||||||||
Total OIBDA | $ | (3,395 | ) | $ | 40,810 | $ | 2,937 | $ | 55,094 | $ | 95,446 |
(unaudited) | |||||||||||||||||||
For the Three Months Ended, | For the Year Ended, | ||||||||||||||||||
OIBDA | March 31, 2013 | June 30, 2013 | September 30, 2013 | December 31, 2013 | December 31, 2013 | ||||||||||||||
Bulgaria | $ | (2,427 | ) | $ | 3,931 | $ | 1,601 | $ | 10,286 | $ | 13,391 | ||||||||
Croatia | (607 | ) | 4,176 | 16 | 4,673 | 8,258 | |||||||||||||
Czech Republic | (6,878 | ) | 928 | (3,272 | ) | (382 | ) | (9,604 | ) | ||||||||||
Romania | 1,109 | 7,436 | (4,843 | ) | (1,248 | ) | 2,454 | ||||||||||||
Slovak Republic | (3,568 | ) | (556 | ) | (6,092 | ) | (9,643 | ) | (19,859 | ) | |||||||||
Slovenia | 1,837 | 4,235 | (4,000 | ) | 7,182 | 9,254 | |||||||||||||
Elimination | (8 | ) | 10 | (110 | ) | 62 | (46 | ) | |||||||||||
Total Operating Segments | (10,542 | ) | 20,160 | (16,700 | ) | 10,930 | 3,848 | ||||||||||||
Corporate | (10,175 | ) | (13,229 | ) | (16,324 | ) | (12,525 | ) | (52,253 | ) | |||||||||
Total OIBDA | $ | (20,717 | ) | $ | 6,931 | $ | (33,024 | ) | $ | (1,595 | ) | $ | (48,405 | ) |
(unaudited) | |||||||||||||||||||
Reconciliation of Total OIBDA to Operating (loss) / profit: | For the Three Months Ended, | For the Year Ended, | |||||||||||||||||
March 31, 2014 | June 30, 2014 | September 30, 2014 | December 31, 2014 | December 31, 2014 | |||||||||||||||
Total OIBDA | $ | (3,395 | ) | $ | 40,810 | $ | 2,937 | $ | 55,094 | $ | 95,446 | ||||||||
Depreciation of property, plant and equipment | (8,060 | ) | (8,051 | ) | (7,900 | ) | (8,825 | ) | (32,836 | ) | |||||||||
Amortization of intangible assets | (3,227 | ) | (3,187 | ) | (3,060 | ) | (2,874 | ) | (12,348 | ) | |||||||||
Other items (1) | — | (6,885 | ) | — | (5,097 | ) | (11,982 | ) | |||||||||||
Operating (loss) / profit | $ | (14,682 | ) | $ | 22,687 | $ | (8,023 | ) | $ | 38,298 | $ | 38,280 |
(1) | Other items for the three months ended June 30, 2014 is comprised of a fine the competition agency in Slovenia was seeking to impose which was subsequently released in fourth quarter of 2014. Other items for the three months ended December 31, 2014 is comprised of an accrual related to tax audits of certain subsidiaries in Romania, offset partially by the reversal of the fine levied in Slovenia. |
(unaudited) | |||||||||||||||||||
Reconciliation of Total OIBDA to Operating loss: | For the Three Months Ended, | For the Year Ended, | |||||||||||||||||
March 31, 2013 | June 30, 2013 | September 30, 2013 | December 31, 2013 | December 31, 2013 | |||||||||||||||
Total OIBDA | $ | (20,717 | ) | $ | 6,931 | $ | (33,024 | ) | $ | (1,595 | ) | $ | (48,405 | ) | |||||
Depreciation of property, plant and equipment | (9,149 | ) | (8,119 | ) | (7,759 | ) | (12,148 | ) | (37,175 | ) | |||||||||
Amortization of intangible assets | (3,917 | ) | (3,571 | ) | (3,713 | ) | (3,560 | ) | (14,761 | ) | |||||||||
Impairment charge | — | — | — | (79,676 | ) | (79,676 | ) | ||||||||||||
Operating loss | $ | (33,783 | ) | $ | (4,759 | ) | $ | (44,496 | ) | $ | (96,979 | ) | $ | (180,017 | ) |