Financial summary
- Revenue amounted to €28.1 (Q3 2019: 23.0) million for the third quarter of 2020, an increase of 22%, and €70.8 (65.6) million for the period January to September
- Operating profit (EBIT) for the third quarter of 2020 was €6.5 (3.4) million, at a margin of 23.3% (14.9%), and €10.0 (8.6) million for the period January to September, at a margin of 14.2% (13.0%)
- Profit after tax amounted to €5.1 (2.3) million for the third quarter of 2020 and €6.8 (5.8) million for the period January to September
- Earnings per share for the third quarter of 2020 were €0.164 (0.075) and €0.220 (0.193) for the period January to September
- Cash flow from operating and investing activities (excluding working capital movements) amounted to €6.9 (2.6) million for the third quarter of 2020 and €8.2 (4.2) million for the period January to September
Key highlights
- Posted record quarterly performance with revenue up 22% year-on-year and operator turnover rising 62%, driven by the resumption of sports culminating in a busy September calendar
- Expanded partner network through the signing of major US operator
Churchill Downs Incorporated and its BetAmerica sports betting brand
- Signed a long-term extension with
LeoVegas Group , cementing the partnership and extending the agreement to cover additional brands
- Continued to deliver for partners with 17 launches throughout the quarter, including the online launch of Penn National Gaming’s Barstool Sportsbook in
Pennsylvania
“The difference between Q2 and Q3 couldn’t have been starker and underlines the ability of the business to quickly and efficiently respond not only to the lockdown situation, but also ensuring resources were in place for when sports returned. It’s reassuring for our partners to experience the capability and inherent flexibility
Momentum gained late in Q2 carried through to Q3, with
During the quarter, we were able to complete two important pieces of business. Firstly, we signed a new partner in
Secondly, the extension of our partnership with the
It was also another busy quarter in terms of launches, culminating in the much-anticipated launch of Penn National Gaming’s (PNG) proprietary Barstool Sportsbook app in
As we near the end of 2020, the cautious optimism of earlier in the year has been replaced with growing confidence, as we finish the year in great shape. Looking ahead, having successfully come through our toughest challenge, more exciting opportunities await us.”
You are invited to participate in a report presentation at 10.45 (CET) with
Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:
https://financialhearings.com/event/13004
Numbers for participation in the telephone conference:
SE: +4685199938
Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q3-2020
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/quarterly-reports
Kristian Nylén, Chief Executive Officer
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