Kambi Group Plc Profitable With Solid Growth In Q3 Results

Expands focus to South America

Unibet's recently spun-off B2B fully managed sports betting service provider Kambi Group reported a successful third quarter in terms of revenue growth of 68 percent.

Key performance highlights for the third quarter ending September 30, 2014 include:

– Revenue amounted to Euro 9.5 million (Q3/2013: Euro 5.6 million), up 68 percent

– Operating profit (EBIT) was Euro 0.9 million (Q3/2013: Euro -3.2) million, with a margin of 10 percent (Q3/2013: -56 percent)

– Profit after Tax amounted to Euro 0.7 million (Q3/2013: Euro -3.0 million)

– Earnings per share Euro 0.023 (Q3/2013: Euro -0.152)

– Cash flow from operating and investing activities (excluding working capital) amounted to Euro 1.2 million (Q3/2013: -1.0 million)

Key performance highlights for the nine month period ending September 30, 2014:

– Revenue amounted to Euro 26.7 million (9M/2013: Euro 15.0 million), up 78 percent

– Operating profit (EBIT) of Euro 1.6 million (9M/2013: Euro -10.5 million), with a margin of 6 percent (9M/2013: -70 percent)

– Profit after Tax amounted to Euro 0.7 million (9M/2013: Euro -10.1 million)

– Earnings per share were 0.030 (9M/2013: -0.507)

– Cash flow from operating and investing activities (excluding working capital) amounted to Euro 2.2 million (9M/2013: Euro -5.4 million)

"The quarter has seen continued solid revenues with an increase of 68% compared to the same period last year, increased profitability and strong cash flow. We are very pleased with our customers' performance. This reflects the advantage our outstanding product gives them. By using Kambi's service, our operators are able to offer the player a unique user experience with high entertainment value. Our drive is to remain the best Sportsbook provider for our customers", commented Kristian Nylén, chief executive officer of Kambi.

While Kambi's core focus is Europe, the company has taken its first step to broaden this to South America with the addition of sales representation in the country. "Kambi has followed the South American market closely during the last two years and as many jurisdictions are coming closer to a re-regulation, this is the right time to add resources closer to the market."

Online Casino News Courtesy of Infopowa

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