Kambi poised for World Cup trading following solid Q1 results

Kambi poised for World Cup trading following solid Q1 results

Thursday, April 26, 2018 Posted by Michael Lawson
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The firm was boosted by a strong 7.9% platform trading margin.

Stockholm-listed Kambi Group Plc is looking forward to a summer of FIFA World Cup trading, following a successful start to its 2018 corporate performance.

Publishing its Q1 2018 results, Kambi records corporate revenues of €16.4 million (Q1 2017: €14.2 million), boosted by a strong 7.9% platform trading margin.

The firm’s strong revenue momentum saw Kambi declare a period EBIT of €2 million (Q1 2017: €1.4 million), combined with Q1 corporate profits of €1.5 million.

Detailing highlights, Kambi pointed to a busy operational period, in which the company grew its commercial pipeline with new customers, whilst delivering key projects for its legacy clients.

During the quarter, Kambi completed the full Stan James UK customer migration for Unibet’s (Kindred Group Plc) platform.

Furthermore, the sportsbook platform and software provider continued its strong commercial momentum by securing online casino group Casumo and Stanleybet Romania as new customers.

Q1 2018 also saw Kambi move to expand its industry services, undertaking a €500,000 investment (25% stake) in next-generation virtual sports content provider Virtus.

Updating investors, Kambi Group CEO Kristian Nylén commented on Q1 performance: “Kambi kicked off the year in positive fashion with Q1 2018 delivering double-digit revenue growth, a strategic investment in a virtual sports company and the signing of a new customer. In addition, since the end of the quarter, we added another operator to the Kambi network, stretching our run of new customer wins to an impressive 10 consecutive quarters.”

Totally Gaming says: With the World Cup in Russia just around the corner, things are looking rosy for Kambi. Its customers will be equipped with the most comprehensive football betting inventory when the finals come around, and the firm has promised ‘a number of market firsts for the World Cup trading’.

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