{"id":3436,"date":"2023-04-26T05:45:00","date_gmt":"2023-04-26T04:45:00","guid":{"rendered":"https:\/\/staging.kambi.com\/investors\/news-pr\/kambi-group-plc-q1-report-2023\/"},"modified":"2023-04-26T05:45:00","modified_gmt":"2023-04-26T04:45:00","slug":"kambi-group-plc-q1-report-2023","status":"publish","type":"press_release","link":"https:\/\/www.kambi.com\/es\/investors\/news-pr\/kambi-group-plc-q1-report-2023\/","title":{"rendered":"Kambi Group plc Q1 Report 2023"},"content":{"rendered":"<div class=\"mfn-body\">\n<p>Financial summary<\/p>\n<ul>\n<li>Revenue amounted to \u20ac44.0 (Q1 2022: 36.9) million for the first quarter of 2023<\/li>\n<\/ul>\n<ul>\n<li>Operating profit (EBIT) for the first quarter of 2023 was \u20ac4.5 (7.3) million, at a margin of 10.3% (19.9%), which was impacted by certain non-recurring costs<\/li>\n<\/ul>\n<ul>\n<li>EBITA (acq)* for the first quarter of 2023 was \u20ac5.8 (7.7) million, at a margin of 13.1% (20.8%)<\/li>\n<\/ul>\n<ul>\n<li>Cash flow (excluding working capital and M&amp;A) amounted to \u20ac3.2 (5.5) million for the first quarter of 2023<\/li>\n<\/ul>\n<ul>\n<li>Earnings per share for the first quarter of 2023 were \u20ac0.107 (0.178)<\/li>\n<\/ul>\n<ul>\n<li>The 2023 AGM will be held on 11 May 2023. The Board proposes that no dividend is paid out.<\/li>\n<\/ul>\n<ul>\n<li>The Board of Directors decided on 19 January 2023 to adopt long-term financial targets in line with Kambi\u2019s strategic vision<\/li>\n<\/ul>\n<p>*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets<\/p>\n<hr\/>\n<p>Key Q1 highlights<\/p>\n<ul>\n<li>Operator turnover and revenue growth of 12% and 19% year-on-year respectively, driven by existing partners and launches into new US states<\/li>\n<\/ul>\n<ul>\n<li>Partnership extensions signed with Rush Street Interactive and Corredor Empresarial S.A., two of Kambi\u2019s most strategically important partners<\/li>\n<\/ul>\n<ul>\n<li>Successful Super Bowl and March Madness tournament with increased player activity alongside unblemished service delivery<\/li>\n<\/ul>\n<ul>\n<li>AI-driven algorithmic trading capability rolled out to major European soccer leagues and other key competitions leading to improved product and greater operational efficiencies<\/li>\n<\/ul>\n<hr\/>\n<p><em>\u201cThe first quarter was another busy period for Kambi including new market launches in the Americas, the expansion of Kambi\u2019s partner network and a full sporting calendar. These events helped drive a 12% year-on-year increase in operator turnover and a 19% rise in revenue to \u20ac44 million. EBITA (acq) was \u20ac5.8 million, impacted by a number of factors including foreign exchange movements and one-off costs to improve future efficiency.<\/em><\/p>\n<p><em>The business hit several important commercial milestones in Q1 as we continue to make significant progress with the key growth drivers detailed at our Capital Markets Day earlier this year. Among these drivers is to extend key partnerships, and I was delighted to secure renewals during the quarter with two of our largest partners in Rush Street Interactive, one of the leading operators in the Americas, and BetPlay owner Corredor Empresarial S.A. which is the market leader in Colombia with plans to expand across Latin America.<\/em><\/p>\n<p><em>Latin America is a region of significant long-term potential for Kambi and will become increasingly integral as we look to extend our lead as the number one supplier across the Americas. Kambi already has a strong foothold in some of the region\u2019s most established sports betting markets such as Colombia and Argentina, and recent public announcements from the Brazilian government show positive signs that regulation of sports betting in Brazil is edging nearer in what is projected to become one of the world\u2019s largest regulated markets.<\/em><\/p>\n<p><em>From a product perspective, Kambi\u2019s expanding AI-driven trading capability is a core component of our vision to redefine what\u2019s possible in sports betting. After a successful roll-out for the soccer World Cup in Q4, this industry-leading method of automated pricing, which blends machine learning with vast amounts of data, was extended to all top European domestic soccer leagues, as well as the Champions League and Europa League. As a result, we can now create more bet offers at a faster delivery speed than the rest of the market, as well as deliver a richer Bet Builder, leading to both a better product and greater efficiencies for the business.<\/em><\/p>\n<p><em>In short, we remain steadfast in our commitment to setting a new standard for sports betting and to pioneer next generation entertainment that eliminates friction and creates new innovative betting options for operators. The road towards our long-term financial targets won\u2019t be linear, but we are carefully putting in place the fundamentals which will enable us to accelerate as we progress. With a market-leading sportsbook that continues to remove product boundaries, a strong sales pipeline and the prospect of further regulation in key markets, I look forward to updating the market over the coming quarters.\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:\/\/gbr01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Ffinancialhearings.com%2Fevent%2F45860&amp;data=05|01|Chris.Stutzman%40kambi.com|3948a23bda824ab5b1d408db31f78804|e3ec1ec4b9944e9e82e080234621871f|0|0|638158711437816235|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D|3000|||&amp;sdata=IIk0FCeLWKh4E5UQttsZaRywNT4goBP5srMx7dg3K%2Fg%3D&amp;reserved=0\" rel=\"noopener\" target=\"_blank\">https:\/\/financialhearings.com\/event\/45860<\/a><\/p>\n<p>Link to the webcast: <a href=\"https:\/\/ir.financialhearings.com\/kambi-q1-2023\" rel=\"noopener\" target=\"_blank\">https:\/\/ir.financialhearings.com\/kambi-q1-2023<\/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=200647\" rel=\"noopener\" target=\"_blank\">https:\/\/conference.financialhearings.com\/teleconference\/?id=200647<\/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<hr\/>\n<p>Kambi Group plc contacts:<\/p>\n<p>Kristian Nyl\u00e9n, Chief Executive Officer<br \/>David Kenyon, Chief Financial Officer<br \/>Mia Nordlander, SVP Investor Relations<br \/>Chris Stutzman, Investor Relations Analyst<\/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, 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 2023-04-26 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\/d3697087-7394-40fd-9158-fa8f623d60db\/kambi-group-plc-q1-report-2023.pdf\" rel=\"noopener\" target=\"_blank\">Kambi Group Plc Q1 Report 2023<\/a><\/p>\n<\/div>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"wpcf-remoteid":"3c1927ef-18ba-4f6c-bcbe-4cdd8bdc2699","wpcf-regulated":"1","wpcf-isfinancial":"0","wpcf-publishedyear":"2023","wpcf-published":"1682487900","banc-mfn-type":"ir","banc-mfn-lang":"en"},"press_release_type":[262,258,261,269,54,58],"class_list":["post-3436","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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