Kindred Group posts 54% full-year revenue rise

Finance News

Kindred Group this morning reported gross winning revenues of  £364.7 million, an increase of 54 per cent. Underlying EBITDA was £286.8 million.

A new record in active customers and solid performance across all products contributes to strong growth” I am pleased that we can finally put 2020, a difficult year for most people, businesses and countries, behind us. It has certainly been a year we will all remember.

At Kindred, we have successfully managed to navigate these uncertain times and have continued to attract customers who enjoy a safe and entertaining gambling experience, resulting in several new all-time highs this quarter including active customers and Gross winnings revenue, which increased 54 per cent from the fourth quarter of 2019 to GBP 364.7 million.

The fourth quarter delivered strong results thanks to our scalable business model, continued focus on costs and impressive growth in active customers to 1.78 million. The busy sports calendar and a slightly higher than normal sports betting margin of 10 per cent, together with encouraging growth of 52 per cent in casino & games compared to the fourth quarter of 2019, have all contributed to our notable growth in Gross winnings revenue.

Continued focus on operational costs and improved return on marketing investments also resulted in impressive growth in underlying EBITDA of 284 per cent to GBP 118.0 million. At the same time, it is encouraging to see that Kindred’s share of voice across markets has increased throughout 2020.

With a scalable business model and our house in order we are ready for what lies ahead. The year has started well, with the average daily Gross winnings revenue for the first 38 days of 2021 being 41 per cent higher (36 per cent higher in constant currency) than the same period last year. Finally, I would like to thank the Kindred team for their outstanding work during a very difficult year and I know that all of us look forward to giving our customers a safe and exciting experience during 2021, building up to the Euros and the Olympics in Tokyo. said, Henrik Tjärnström CEO, Kindred Group.