Financial summary
- Revenue amounted to €57.8 (Q4 2021: 34.9) million for the fourth quarter of 2022, including a €12.6 million termination fee from
PENN Entertainment , and €166.0 (2021: 162.4) million for the period January to December of 2022
- Operating profit (EBIT) for the fourth quarter of 2022 was €18.7 (7.1) million, at a margin of 32.3% (20.2%), and €34.8 (57.0) million, at a margin of 20.9% (35.1%) for the period January to December of 2022
- Revenue and operating profit (EBIT) excluding the termination fee from
PENN Entertainment were €45.2 and €6.0 million respectively for the fourth quarter of 2022, and €153.4 and €22.2 million for the period January to December of 2022
- Earnings per share for the fourth quarter of 2022 were €0.491 (0.198) and €0.861 (1.501) for the period January to December of 2022
- Cash flow (excluding working capital and M&A) amounted to €17.9 (4.8) million for the fourth quarter of 2022 and €25.2 (44.6) million for the period January and December of 2022
- The 2023 AGM will be held on
11 May 2023 . The Board proposes that no dividend is paid out.
- The Board of Directors decided on
19 January 2023 to adopt long-term financial targets in line with Kambi’s strategic vision
Key Q4 highlights
- Operator turnover growth of 20% year-on-year and 43% sequentially, driven by return of busy US sporting calendar and market expansion
- Revenue increased 30%, excluding the termination fee, on back of strong operational performance
- Successful soccer
World Cup that saw strong platform stability and a leading offering for partners, powered by newly developed algorithmic trading capability
- New partnership agreement with Rei do Pitaco, the number one fantasy sports operator in
Brazil , which will leverage brand and database to transition to sports betting
Highlights after Q4
- Agreed extension to successful partnership with
Rush Street Interactive , one of the leading operators in theAmericas
- Extended footprint in
North America with day one market launches inMassachusetts andOhio which have a combined population of nearly 20 million
- Continued commercial momentum with the signings of
Miami Valley Gaming inOhio anddel Lago Resort & Casino inNew York , as well as the renewal ofSun International inSouth Africa
“The year finished with a flourish with the business delivering across several key areas, providing the perfect springboard into 2023. Operator turnover continues to rise with Q4 turnover up 20% year-on-year and 43% sequentially, buoyed by a busy US sporting calendar.
The soccer
This new method of trading automation has been in development for a few years, with the World Cup providing us with the perfect opportunity to stress-test it at scale and we couldn’t have been happier with its performance. Powering our entire pre-match offering, this proprietary capability leverages the full power of data to deliver an even greater product, with more betting opportunities presented to the player in a quick and cost-efficient way. Since the World Cup, we have fully automated the pre-match pricing to deliver a
Just days after the World Cup final, we signed a partnership agreement with Rei do Pitaco, the largest fantasy sports operator in
Looking back on the full year, it was one where
All these achievements and more saw us enter 2023 in a fantastic position, one which was quickly strengthened by the extended partnership agreement with
You are invited to participate in a web presentation at 10.45 CET with
Please see details in the link below:
https://financialhearings.com/event/45859
Link to the webcast: https://ir.financialhearings.com/kambi-group-q4-2022
Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference:
https://conference.financialhearings.com/teleconference/?id=5004827
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/
Kristian Nylén, Chief Executive Officer
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