Kambi Group plc Q3 Report 2023
“The landmark signings of Svenska Spel and LiveScore Group are Kambi’s most significant partner agreements with existing sports betting revenue in our history and represent a major step forward towards our long-term strategic goals”
Kristian Nylén, Kambi CEO and Co-founder
Financial summary
- Revenue amounted to €42.1 (Q3 2022: 36.7) million for the third quarter of 2023 and €129.0 (2022: 108.2) million for the period January to September of 2023. Revenue includes certain non-recurring items as explained in the report.
- Operating profit (EBIT) for the third quarter of 2023 was €4.6 (3.9) million, at a margin of 11.0% (10.6%), and €12.8 (16.1) million, at a margin of 9.9% (14.9%) for the period January to September of 2023
- EBITA (acq)* for the third quarter of 2023 was €6.0 (4.2) million, at a margin of 14.1% (11.5%), and €16.7 (17.1) million, at a margin of 13.0% (15.8%), for the period January to September of 2023
- Cash flow (excluding working capital and M&A) amounted to €6.1 (1.8) million for the third quarter of 2023 and €9.5 (7.3) million for the period January to September of 2023
- Earnings per share for the third quarter of 2023 were €0.117 (0.084) and €0.306 (0.370) for the period January to September of 2023
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key highlights
- Underlying turnover growth of 9% when excluding the impact from Penn Entertainment’s (Penn) online migration
- Revenue growth of 15% year-on-year, boosted by certain non-recurring fees in relation to Penn and Shape Games. Please see further details in the report.
- Signed contract extensions with long-standing partners ATG and Rank Group which will continue to leverage Kambi’s Complete sportsbook
- Entered into a long-term sportsbook platform and front end agreement with the leading Swedish operator Svenska Spel, benefiting from its established customer base and revenue streams
- Signed a long-term sportsbook partnership with sports media and betting operator LiveScore Group to power its established LiveScore Bet and Virgin Bet brands, with a meaningful revenue impact expected from second half 2024
Kambi Group plc Q3 Report 2023 was first seen on Sports Betting Operator