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NEWS 2 November 2016

Kambi reports strong growth in its Q3 report

By Dhanum Nursigadoo
Releasing its report for the third quarter of 2016, Kambi Group plc announced an increase of 15% in revenue, €14.8 million, and revenue of €41.7 million for the January to September2016 period.

Operating profit, EBIT, for the most recent quarter was €3.1 million, with a margin of 21%, and €7 million for the period January to September 2016, with a margin of 17%.

Earnings per share for the third quarter of 2016 were €0.092 and €0.211 for the year up to September.

Cash flow from operating and investing activities amounted to €1.6 million for the third quarter of 2016, and €3.1 million from January to September.

Kambi’s turnover has seen year on year growth of 37%, partly due to the influence of the Euro 2016 football tournament but also thanks to partnering with Novomatic Lottery Solutions to provide sports betting to consumers.

The third quarter also sees an end to Kambi’s partnership with Spanish operator Luckia after opting not to renew the contract between the two companies.

Commenting on the Q3 report Kambi CEO, Kristian Nylén said: “I am really pleased to deliver an excellent set of results for Q3. Our unparalleled service drove a 37% growth in operator turnover, which led to strong results for Kambi of 25% growth in operating profit.”

“I am highly encouraged by the partnership we have signed with the prestigious gaming company NOVOMATIC Lottery Solutions, where we are joining forces to create a state-of-the-art omni-channel solution for government regulated lotteries, which is a key target segment for Kambi.”

RELATED TAGS: Online | Financial
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