Bli medlem
Bli medlem

Du är här

2021-07-23

Kambi Group plc Q2 Report 2021

Financial summary

  • Revenue amounted to €42.8 (Q2 2020: 14.8) million for the second quarter of 2021 and €86.0m (H1 2020: 42.7) million for the first half of 2021, an increase of 102%
  • Operating result (EBIT) for the second quarter of 2021 was €16.6 (-3.4) million, at a margin of 38.8% (-22.7%), and €35.3 (3.5) million, at a margin of 41.0% (8.2%) for the first half of 2021
  • Result after tax amounted to €13.4 (-3.0) million for the second quarter of 2021 and €28.4 (1.7) million for the first half of 2021
  • Earnings per share for the second quarter of 2021 were €0.432 (-0.099) and €0.919 (0.056) for the first half of 2021
  • Cash flow from operating and investing activities (excluding working capital movements) amounted to €11.4 (-2.8) million for the second quarter of 2021 and €28.0 (1.3) million for the first half of 2021

Key highlights

  • Strong financial performance with quarterly revenue of €42.8m, an operator trading margin of 9.3% and a net cash position of €84.5m
  • Further expanded US presence, supporting Churchill Downs Incorporated, Penn National Gaming and Kindred with sports betting launches in four states
  • Extended footprint in growing South American sports betting market, powering the launch of Olimpo.bet in Peru ahead of a wider roll-out
  • Quarterly performance boosted by strong operator trading margins in the Euro 2020 soccer tournament

“I’m delighted to say Kambi’s positive momentum continued into the second quarter of the year, with strong financial results driven by the UEFA European Football Championship, compensating for a lack of NFL and college sports in the US.

In the context of the seasonal US sporting calendar, Kambi was still able to post strong Q2 results, with revenue of €42.8m, an operator turnover index of 911 and an operator trading margin of 9.3%, completing a highly encouraging half-year.

In June, we held a virtual Capital Markets Day, which enabled us to present our strategy for the future, including our position in markets with strong potential for growth, the global opportunities ahead and how we plan to capitalise on those opportunities. I believe that Kambi, more than anyone else in the market, has what it takes to be the world’s number one sportsbook provider in today’s increasingly regulated and competitive landscape.

In terms of global opportunities and our addressable market, there was positive news from Canada with the repeal of its ban on single wagers, in turn handing provinces the ability to offer a much more liberalised form of regulated sports betting. We’re pleased to see provinces picking up the baton and making strides towards new licensing frameworks. Ontario, the country’s largest province with a population of approximately 15 million, could be the first to go live by the end of the year.

We’re very excited about what the future holds at Kambi. We have a leading product, a fantastic network of partners and talented and passionate staff, recently illustrated by Kambi winning three prestigious EGR B2B Awards and two Global Gaming Awards. Kambi only succeeds when our partners succeed, and these awards are as much a testament to our fantastic partners as they are to us.

Meanwhile, our success in recent years provides us with a strong balance sheet, giving us the ability to expand when and where needed, expedite our global growth plans, and create further shareholder value.”


You are invited to participate in a web presentation at 10.45 (CEST) with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The video presentation will be held in English and can be accessed using the link below. After the presentation there will be the opportunity to ask questions.

https://financialhearings.com/event/13304

Numbers for participation in the telephone conference:

SE: +46 8 519 993 83
UK: +44 33 3300 9034
US: +1 646 722 4904

Link to the webcast: https://tv.streamfabriken.com/kambi-group-q2-2021
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/quarterly-reports

Kambi Group plc contacts:

Kristian Nylén, Chief Executive Officer
David Kenyon, Chief Financial Officer
Mia Nordlander, Senior Vice President Investor Relations
Tel: +44 203 617 7270
+44 785 091 0933

For further information, please contact:


Mia Nordlander
SVP Investor Relations
Mia.Nordlander@kambi.com
Mobile: +44 (0) 7850 910 933
Office: +44 203 318 6279

About Kambi


Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 30-plus customers include ATG, Churchill Downs Incorporated, DraftKings, Kindred Group, LeoVegas, Penn National Gaming and Rush Street Interactive. Kambi employs more than 900 staff across offices in Malta (headquarters), Australia, Philippines, Romania, Sweden, the UK and the United States.

Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol "KAMBI".

The Company's Certified Advisor is Redeye AB.
Certifiedadviser@redeye.se
Tel: +46 (0) 8 121 576 90

This information is information that Kambi Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-07-23 07:45 CEST.

Attachments


Kambi Group plc Q2 2021 Report 23 July 2021

Författare MFN