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Kambi Group releases full year and Q4 report 2018

“2018 will be remembered as one of achievement and one in which Kambi reached new heights,” said the company’s CEO.

Malta |
02/13/2019

The firm has announced the release of its financial report covering the full year 2018 and its fourth quarter. Full year revenues were up 23%.

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ambi Group’s report, released on Wednesday, includes financial information on the company’s full 2018 and Q4.

“Q4 2018 was a quarter about retail delivery, both in US and in Europe, and brought to an end Kambi’s best year yet, with full-year revenues up 23% and operating profit/EBIT up 65% year-on-year. We also signed eight new customers in the year (a Kambi record), and took the first legal online sports bet in the US post-PAPSA,” the company unveiled.

Following the same line, Kambi’s CEO Kristian Nylen also commented: “2018 will be remembered as one of achievement and one in which Kambi reached new heights. And although much hard work remains in front of us, the strong foundations we have put in place leave me confident Kambi can remain on this upward trajectory throughout 2019.”

Financial summary

  • Revenue amounted to €21.7 (19.0) million for the fourth quarter of 2018, and €76.2 (62.1) million for the period January to December 2018
  • Operating profit (EBIT) for the fourth quarter of 2018 was €4.2 (5.0) million,
    with a margin of 19.2% (26.3%), and €12.7 (7.7) million for the period January to December 2018, with a margin of 16.7% (12.4%)
  • Profit after Tax amounted to €3.3 (3.9) million for the fourth quarter of 2018, and €9.8 (5.9) million for the period January to December 2018
  • Earnings per share for the fourth quarter of 2018 were €0.110 (0.131), and €0.326 (0.198) for the period January to December 2018
  • Cash flow from operating and investing activities (excluding working capital) amounted to €2.8 (3.8) million for the fourth quarter of 2018, and €8.6 (4.7) million for the period January to December 2018
  • The AGM will be held on 16 May 2019 at Kambi’s Stockholm office. The Board has decided to propose that no dividend is paid out (2017: no dividend)

Key highlights

  • Strong financial performance including 42% operator turnover growth, with Kambi revenue growing 14%
  • Operator trading margin of 8.5% was above expectation, although below the 9.7% margin in Q4 2017
  • Launched on-property Sportsbooks with DraftKings in New Jersey and Rush Street Interactive’s Rivers Casino and SugarHouse Casino in Pennsylvania
  • Contract signed with Greenwood Gaming & Entertainment, owner of the largest gaming complex in Pennsylvania, Parx Casino
  • Received full license in Mississippi, an interim license in Pennsylvania and supported operators in securing licenses in Sweden

A report presentation will take place at 10:45 CET with CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English via a telephone conference and can also be accessed via an audiocast using the link below.

Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:

https://financialhearings.com/event/11650

Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q4-2018

 

Source – Igaming world

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