Flat quarter for Kambi
News on 28 Oct 2017
News on 28 Oct 2017
Online sports betting provider Kambi has reported a rather quiet Q3-2017, with revenues flat and operating profit down. On Friday the company posted KPIs for the third quarter:
* Revenue flat at Euro 14.8 million;
* Operating profit down at Euro 1.1 million on a margin of 7 percent (Q3-2016: Euro 3.1 million on margin of 21 percent);
* Profit after tax down from Euro 2.7 million in Q3-2016 to Euro 800,000 this year.
January to September 2017 results:
* Revenue at Euro 43.1 million, encouragingly up on the Euro 41.7 million in the same period last year;
* Operating profit down at Euro 2.7 million compared to last year’s Euro 7 million;
* Profit after tax declined from Euro 6.3 million last year to Euro 2 million in the current period;
* Margin of 6.6 percent.
CEO Kristian Nylén noted the absence of major football competitions, but said this had not inhibited a 16 percent year-on-year rise in operator turnover.
“This strengthens our belief that while margins will fluctuate due to the outcome of sporting events, we don’t see any long-term trends that suggest any continued downward pressure,” he said.
