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Sports betting provider Kambi has announced an increase in revenue in the third quarter compared to the same period last year. Operating profit declined.
Turnover increased by 2.1% to €43.0 million (42.1).
“In terms of financial performance, we saw underlying growth in the third quarter, with operating revenue up 14% year-on-year,” said new CEO Werner Becher.
He continues:
“Although third quarter revenues increased only 2% year-over-year, when excluding Penn Entertainment transition fees and non-recurring licensing revenues in the third quarter of 2023, revenues increased 16% year-over-year. %, although they were boosted by an unusually high operator trading margin of 10.4%.”
Ebitda was 13.5 million euros (13.9), with an Ebitda margin of 31.4 percent (33.0).
Operating profit was 3.6 million euros (4.6), with an operating margin of 8.4 percent (10.9).
Profit after tax amounted to 2.5 million euros (3.5), a decrease of 28.6% compared to the previous year.
Earnings per share amounted to 0.083 euros (0.116), a decrease of 28.4% compared to the previous year.
As part of this report, Kambi announced the launch of a share buyback program of a maximum amount of 12 million euros, which will continue until May 20, 2025.
Kambi now forecasts annual turnover of 172.5 to 175.5 million euros, up from 170 to 180 million euros.
Excluding foreign exchange movements and any one-off costs, total costs are expected to be in the range of €155.0 to €157.0 million this year, which is at the lower end of the €155.0 to €157.0 million range. 165.0 million euros initially communicated in the fourth quarter 2023 report.
