Kambi flys high in 2018 full year results

News on 14 Feb 2019

Kambi Group plc’s full year 2018 results reported a strong performance bolstered by several retail sportsbook installations in the burgeoning US market.

Performance highlights include:

Revenue amounted to Euro 76.2 million (2017: Euro 62.1 million, up 14 percent.

Operating profit (EBIT) was Euro 12.7 million (2017: Euro 7.7 million), with a margin of 16.7 percent (2017: 12.4 percent).

Profit after Tax amounted to Euro 9.8 million (2017: Euro 5.9 million).

Earnings per share were Euro 0.326 (2017: Euro 0.198).

Cash flow from operating and investing activities (excluding working capital) amounted to Euro 8.6 million (2017: Euro 4.7 million)

The Board will propose no dividend payout at the company’s AGM in May 2019.

“With the US market high on Kambi’s priority list, our ability to demonstrate our high-quality on-property Sportsbook and prompt time-to-market leaves us well-placed moving forward, particularly considering the emphasis US operators and state regulators place on the retail channel,” Kristian Nylén, Chief Executive Officer commented.

“When also factoring in the early success we have had online in New Jersey, I’m not surprised Kambi is now seen as the leading multi-channel sports betting supplier in this burgeoning market.

“Reflecting on the year as a whole, 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.”

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