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NEWS 24 July 2019

Kambi H1 revenue and profit show significant growth

By Tim Poole

Kambi’s revenue grew 25% year-on-year to €42.6m ($47.5m) for H1 2019.

The supplier’s H1 profit from operations also rose 19% to €5.1m, which was €3.6m after tax.

Kambi’s Q2 revenue grew 23% to €21.6m, with Q2 profit from operations up 4% to €2.5m.

After tax, Q2 profit was €1.6m, as the company drove 26% operator turnover growth.

Kambi CEO Kristian Nylén attributed a significant portion of the supplier’s financial results to US activity: "It was during Q2 last year the US Supreme Court decided to repeal the country’s federal sports betting ban, a judgment I said at the time would create significant business opportunities for Kambi.

"Looking back over the past 12 months, I’m proud to say we’ve built a robust US-facing business with a fantastic portfolio of partners. I continue to have great confidence in our future prospects."

Kambi’s share price fell slightly after its Q2 announcement, from SEK 139.50 ($14.69) to SEK 132.70.

RELATED TAGS: Online | Financial | Sports Betting
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