{"id":3421,"date":"2023-07-26T05:45:00","date_gmt":"2023-07-26T04:45:00","guid":{"rendered":"https:\/\/staging.kambi.com\/investors\/news-pr\/kambi-group-plc-q2-report-2023\/"},"modified":"2023-07-26T05:45:00","modified_gmt":"2023-07-26T04:45:00","slug":"kambi-group-plc-q2-report-2023","status":"publish","type":"press_release","link":"https:\/\/www.kambi.com\/es\/investors\/news-pr\/kambi-group-plc-q2-report-2023\/","title":{"rendered":"Kambi Group plc Q2 Report 2023"},"content":{"rendered":"<div class=\"mfn-body\">\n<p>Financial summary<\/p>\n<ul>\n<li>Revenue amounted to \u20ac42.9 (Q2 2022: 34.7) million for the second quarter of 2023 and \u20ac86.9 (H1 2022: 71.5) million for the first half of 2023<\/li>\n<\/ul>\n<ul>\n<li>Operating profit (EBIT) for the second quarter of 2023 was \u20ac3.7 (4.9) million, at a margin of 8.6% (14.1%), and \u20ac8.2 (12.2) million, at a margin of 9.4% (17.1%) for the first half of 2023<\/li>\n<\/ul>\n<ul>\n<li>EBITA (acq)* for the second quarter of 2023 was \u20ac5.0 (5.2) million, at a margin of 11.7% (15.1%), and \u20ac10.8 (12.9) million, at a margin of 12.4% (18.1%), for the first half of 2023<\/li>\n<\/ul>\n<ul>\n<li>Cash flow (excluding working capital and M&amp;A) amounted to \u20ac0.1 (0.1) million for the second quarter of 2023 and \u20ac3.4 (5.6) million for the first half of 2023<\/li>\n<\/ul>\n<ul>\n<li>Earnings per share for the second quarter of 2023 were \u20ac0.083 (0.109) and \u20ac0.190 (0.286) for the first half of 2023<\/li>\n<\/ul>\n<p>*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets<\/p>\n<hr\/>\n<p>Key Q2 highlights<\/p>\n<ul>\n<li>Revenue growth of 24% year-on-year driven by an operator trading margin of 9.9% and the addition of Shape Games<\/li>\n<\/ul>\n<ul>\n<li>Entered into exclusive global sportsbook partnership agreement with Bally\u2019s Corporation, replacing the global operator\u2019s proprietary sports betting technology<\/li>\n<\/ul>\n<ul>\n<li>Significant progress in incubation of cutting-edge AI pricing division which will deliver the next evolution of sports trading to the wider industry<\/li>\n<\/ul>\n<ul>\n<li>Signed contract extensions with key partners BetPlay, LeoVegas and Paf<\/li>\n<\/ul>\n<ul>\n<li>Repaid the \u20ac7.5 million convertible bond previously held by Kindred Group and repurchased 381,476 shares for a total of \u20ac7.2 million<\/li>\n<\/ul>\n<hr\/>\n<p><em>\u201cThe second quarter of the year was another encouraging period for Kambi as we made significant strategic progress towards executing our long-term growth strategy, including a tier-one partner signing, key partner renewals and the continued development of our AI trading capability.<\/em><\/p>\n<p><em>During the quarter we delivered strong revenue growth of 24% year-on-year, driven by new customers, the addition of Shape Games and a high operator trading margin. Operator turnover growth of 4% was not as strong as revenue, impacted by rising foreign exchange headwinds, the dampening effect of a high trading margin and PENN Entertainment\u2019s year-on-year decline in US market share. Excluding the impact of foreign exchange movements, EBITA (acq) increased by \u20ac2.8 million year-on-year.<\/em><\/p>\n<p><em>From a commercial perspective, we were delighted to welcome Bally&#39;s Corporation to the Kambi network in Q2. As we further solidify our market leadership position, this partner win is a major milestone for the business and comes on the back of our flexible product strategy. As one of the world\u2019s leading gaming operators, Bally\u2019s commands strong brand recognition, a large customer database and expansive global footprint that has the potential to open up significant opportunities for Kambi in both the US and beyond.<\/em><\/p>\n<p><em>Bally\u2019s decision to replace its proprietary sportsbook with Kambi Complete underlines the current pressures facing many in-house sports betting operations. Indeed, demand for our Complete sportsbook service remains high, further evidenced by our sales pipeline and the Q2 renewals of key partners BetPlay, LeoVegas Group and Paf.<\/em><\/p>\n<p><em>Kambi\u2019s offering is only getting stronger as we pioneer next generation betting entertainment, highlighted by the success of our award-winning AI-powered trading. Recognising the powerful benefits this unique method of pricing delivers for our partners, we also see an exciting future for this service as a module, powering odds for those outside of the Kambi network. In Q2, we made significant progress in incubating the unit with a view to it operating as a distinct division in the future, similar to Abios and Shape Games. We are confident our AI-driven pricing is uniquely positioned to meet the growing demand for trading services.<\/em><\/p>\n<p><em>In summary, I am pleased with the strategic progress made in Q2 and believe Kambi is in a fantastic position moving forward. Having repaid the convertible bond held by Kindred during the quarter, we are in complete control over our strategic direction as we continue to execute our ambitious long-term strategy that I am confident will deliver value for both partners and shareholders.\u201d<\/em><\/p>\n<hr\/>\n<p>You are invited to participate in a web presentation at 10.45 CEST with Kambi Group plc\u2019s CEO Kristian Nyl\u00e9n and CFO David Kenyon. The presentation will be held in English and can be accessed using the link below. After the presentation there will be the opportunity to ask questions.<\/p>\n<p>Please see details in the link below:<\/p>\n<p><a href=\"https:\/\/financialhearings.com\/event\/46433\" rel=\"noopener\" target=\"_blank\">https:\/\/financialhearings.com\/event\/46433<\/a><\/p>\n<p>Link to the webcast:<\/p>\n<p><a href=\"https:\/\/ir.financialhearings.com\/kambi-q2-2023\" rel=\"noopener\" target=\"_blank\">https:\/\/ir.financialhearings.com\/kambi-q2-2023<\/a><\/p>\n<p>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: <a href=\"https:\/\/conference.financialhearings.com\/teleconference\/?id=200893\" rel=\"noopener\" target=\"_blank\">https:\/\/conference.financialhearings.com\/teleconference\/?id=200893<\/a><\/p>\n<p>Link to report page: <a href=\"https:\/\/www.kambi.com\/investors\/financial-reports-and-presentations\/\" rel=\"noopener\" target=\"_blank\">https:\/\/www.kambi.com\/investors\/financial-reports-and-presentations\/<\/a><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-contacts mfn-3bd1a7eea613\">\n<p><strong class=\"mfn-heading-1\">For further information, please contact:<\/strong><\/p>\n<hr\/>\n<p>Mia Nordlander<br \/>SVP Investor Relations<br \/><a href=\"mailto:Mia.Nordlander@kambi.com\" rel=\"noopener\" target=\"_blank\">Mia.Nordlander@kambi.com<\/a><br \/>Mobile: +44 (0) 7850 910 933<br \/>Office: +44\u00a0203\u00a0318 6279<\/p>\n<p>Chris Stutzman<br \/>Investor Relations Analyst<br \/><a href=\"mailto:Chris.Stutzman@kambi.com\" rel=\"noopener\" target=\"_blank\">Chris.Stutzman@kambi.com<\/a><br \/>Office: +1 302 603 5137<\/p>\n<\/div>\n<div class=\"mfn-footer mfn-about mfn-69f15e07a220\">\n<p><strong class=\"mfn-heading-1\">About Kambi<\/strong><\/p>\n<hr\/>\n<p>Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi\u2019s 40-plus customers include ATG, Bally\u2019s Corporation, Corredor Empresarial, Kindred Group, LeoVegas, Mohegan Gaming &amp; Entertainment and Rush Street Interactive. Kambi employs more than 1,000 staff across offices in Malta (headquarters), Australia, Denmark, Philippines, Romania, Sweden, the UK and the United States.<\/p>\n<p>Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol &#34;KAMBI&#34;.<\/p>\n<p>The Company&#39;s Certified Advisor is Redeye AB.<\/p>\n<\/div>\n<div class=\"mfn-footer mfn-regulatory mfn-regulatory-mar\">\n<p><em>This information is information that Kambi Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-07-26 07:45 CEST.<\/em><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-attachment mfn-attachment-general\">\n<p><strong class=\"mfn-heading-1\">Attachments<\/strong><\/p>\n<hr\/>\n<p><a class=\"mfn-primary\" href=\"https:\/\/storage.mfn.se\/e24c9bf4-2b85-4977-a4b5-de8415719cc3\/kambi-group-plc-q2-report-2023.pdf\" rel=\"noopener\" target=\"_blank\">Kambi Group Plc Q2 Report 2023<\/a><\/p>\n<\/div>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"wpcf-remoteid":"963ce14b-184e-4196-a684-5d6dadd45849","wpcf-regulated":"1","wpcf-isfinancial":"0","wpcf-publishedyear":"2023","wpcf-published":"1690350300","banc-mfn-type":"ir","banc-mfn-lang":"en"},"press_release_type":[262,258,261,263,54,58],"class_list":["post-3421","press_release","type-press_release","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - 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