Kambi Posts Strong Q1 results
Kambi Group Plc, has today reported the below financial summary.
- Revenue amounted to €14.2 (13.3) million for the first quarter of 2017, an increase of 7%
- Operating profit (EBIT) for the first quarter of 2017 was €1.4 (2.0) million, with a margin of 10% (15%)
- Profit after tax amounted to €1.1 (1.8) million for the first quarter of 2017
- Earnings per share for the first quarter of 2017 were €0.036 (0.059)
- Cash flow from operating and investing activities (excluding working capital) amounted to €0.8 (1.4) million for the first quarter of 2017
- Strong operator turnover growth of 27%
- Continued solid cash flow generation
- Many events with player-friendly outcomes led to a below average trading margin
- Agreement signed with Greentube – a subsidiary of Novomatic – for its online B2C operations across Europe
- Kambi awarded the ISO 27001:2013 certification, demonstrating its commitment to high security standards
“I’m very pleased to see continued success from our operators, as demonstrated by their ongoing rapid growth trend.
The latter part of the quarter resulted in an unusually high number of player-friendly outcomes in the major football leagues, which impacted the trading margin. It is in the nature of the business for the trading margin to fluctuate between quarters depending on the result of sporting events.
The underlying strong performance and momentum within the company is unaffected by these events. This makes me confident in our strategy and business model which creates value for our operators.
As mentioned in the Q4 2016 report, we are delighted to have signed a contract with Greentube in February and look forward to helping expand its online sports betting offering with Kambi’s premium Sportsbook across Europe.
We continue to develop our Sportsbook to carry on delivering an exceptional experience for the end users.” says Kristian Nylén, CEO of Kambi.