In an update to investors, Kambi Group has posted its financial results for the final quarter of 2017, announcing an impressive 33% year-on-year increase in revenue.
The revenue generated in the fourth quarter amounted to €19m, with a full-year posting of €62.1m. Operating profit (EBIT) for Q4 totalled at €5m, with a margin of 26%, and €7.7m for the period January to December 2017, with a margin of 12%.
2017 proved to be an extremely busy year for the online sports betting supplier, with the signing of Sun International, a record for the company as the deal makes it the eight consecutive quarter in which it has signed at least one new customer.
The company also picked up the Global Gaming Awards prize for Online Sports Betting Supplier of the Year, beating off some fierce competition in the category.
Commenting on the results, Kambi CEO, Kristian Nylén stated: “I'm delighted to report Kambi ended 2017 on a high, with the fourth quarter delivering record revenues, a new customer signing and three customer contract extensions. We are entering 2018 with strong momentum.
“While the Q4 result is pleasing, it is important to view operator trading margin with a long-term perspective. Our 12-month operator trading margin was 7.4%, a figure more in line with our previously communicated expected range of 6.5-7%.
“Therefore, just as we weren't overly concerned by below average margins in the first two quarters of 2017, we are not getting carried away with the higher than average margins of recent quarters.”
Addressing the year ahead, Nylén added: “With LeoVegas, Paf and Napoleon Games all signing long-term contract extensions, and an increasingly realistic proposition of a legal US sports betting market in the not-too-distant future, Kambi has never been in better shape and I'm personally excited for the year ahead."