Kambi Group plc trading update for the fourth quarter of 2020

In the fourth quarter of 2020, Kambi experienced a particularly strong operator trading margin, coupled with continued momentum in operator turnover, resulting in expected revenue in the range of €46.0 – 48.0 million (Q4 2019: €26.7 million).

An extended run of favourable sporting results, across multiple sports and all key markets, generated an expected operator trading margin of 9.4% in the fourth quarter of 2020 (Q4 2019: 7.4%). This is significantly higher than the expected average long-term operator trading margin of 7 – 8%.

During the same period, operating expenditure is expected to be in the range of €24.0 – 25.0 million (Q4 2019: €20.5 million). This is higher than previous guidance, predominantly due to additional social security costs in relation to our share options programmes as these are directly driven by movements in the share price. We anticipate operating expenditure in Q1 2021 to be in the range of €23.5 – 24.5 million.

EBIT in the fourth quarter 2020 is expected to be in the range of €21.0 – 24.0 million (Q4 2019: €6.2 million) and in the range of €31.0 – 34.0 million for the full year 2020 (full year 2019: €14.7 million).

The report for the fourth quarter of 2020 will be published on Wednesday 10 February 2021 at 07.45 CET, followed by an audiocast at 10:45 CET.