Financial summary
- Revenue amounted to €43.2 (Q1 2023: 44.0) million for the first quarter of 2024
- Operating profit (EBIT) for the first quarter of 2024 was €4.4 (4.5) million, at a margin of 10.2% (10.3%)
- EBITA (acq)* for the first quarter of 2024 was 5.8 (5.8) million, at a margin of 13.3% (13.1%)
- Cash flow (excluding working capital and M&A) amounted to €5.4 (3.2) million for the first quarter of 2024
- Earnings per share for the first quarter of 2024 were €0.107 (0.107)
- The 2024 AGM will be held on
21 May 2024 . The Board proposes that no dividend is paid out.
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key highlights
- AI trading division Tzeract to provide European operator kwiff with its market-leading Bet Builder product in first commercial partnership
- Extended retail sportsbook partnership with
Penn Entertainment until31 December 2025 , replacing previous agreement which was set to endJuly 2024
- Launched LiveScore Group’s
Kambi -powered sportsbook inNigeria , followed by a launch inthe Netherlands after quarter end ahead of a wider rollout before Euro 2024
- Continued development of open platform and trading gateway with integration of Inspired Entertainment’s virtual sports offering and preparation of external odds feeds provision
- Completed the third share buyback programme and announced a further share buyback programme running from 18 March to 20 May, up to a total of €4.0 million
- In January, Kambi’s CEO and Co-founder Kristian Nylén notified the Board of his intention to step down from his current position once a successor is in place
CEO comment
“For the first quarter of the year we posted revenue of €43.2 million, which was in line with our expectations, while expenses were at the lower end of our guidance at €39.0 million.
A key highlight of the quarter was the launch of LiveScore Group's new
The important signing of LiveScore, as well as other key 2023 partner signings, were partly dependent on us delivering on certain product requirements. As part of these product deliveries, we have been integrating external content into the
Having made great strides on opening up our platform to deliver on these partner requirements, we are now picking up the pace with modularisation. This sharpened focus means we are preparing to provide modular
As part of our ongoing modularisation strategy, yesterday we announced Tzeract’s first commercial agreement since launching as a standalone division. Partnering with kwiff to provide its leading Bet Builder product will enable Tzeract to demonstrate the quality of its product via an operator outside of the
In summary, we have continued to build solid foundations for the future. Our commitment to pushing the boundaries of product excellence and innovation, as highlighted by the development of our modular odds feeds, is positioning
You are invited to participate in a web presentation at 10.45 CEST with
Please see details in the link below:
https://financialhearings.com/event/49096
Link to the webcast:
https://ir.financialhearings.com/kambi-group-q1-report-2024
Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference: https://conference.financialhearings.com/teleconference/?id=50049096
Link to report page: https://www.kambi.com/investors/financial-reports-and-presentations/
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