{"id":3369,"date":"2024-07-24T05:45:00","date_gmt":"2024-07-24T04:45:00","guid":{"rendered":"https:\/\/staging.kambi.com\/investors\/news-pr\/kambi-group-plc-q2-report-2024\/"},"modified":"2024-07-24T05:45:00","modified_gmt":"2024-07-24T04:45:00","slug":"kambi-group-plc-q2-report-2024","status":"publish","type":"press_release","link":"https:\/\/www.kambi.com\/pt-br\/investors\/news-pr\/kambi-group-plc-q2-report-2024\/","title":{"rendered":"Kambi Group plc Q2 Report 2024"},"content":{"rendered":"<div class=\"mfn-body\">\n<p><strong>Financial Summary<\/strong><\/p>\n<ul>\n<li>Revenue amounted to \u20ac45.7 (Q2 2023: 42.9) million for the second quarter of 2024 and \u20ac88.9 (H1 2023: 86.9) million for the first half of 2024<\/li>\n<\/ul>\n<ul>\n<li>Operating profit (EBIT) for the second quarter of 2024 was \u20ac6.2 (3.7) million, at a margin of 13.5% (8.6%) and \u20ac10.6 (8.2) million, at a margin of 11.9% (9.4%) for the first half of 2024<\/li>\n<\/ul>\n<ul>\n<li>EBITA (acq)* for the second quarter of 2024 was \u20ac7.5 (5.0) million, at a margin of 16.4% (11.7%), and \u20ac13.3 (10.8) million, at a margin of 14.9% (12.4%), for the first half of 2024<\/li>\n<\/ul>\n<ul>\n<li>Cash flow (excluding working capital and M&#38;A) amounted to \u20ac8.1 (0.1) million for the second quarter of 2024 and \u20ac13.5 (3.4) million for the first half of 2024<\/li>\n<\/ul>\n<ul>\n<li>Earnings per share for the second quarter of 2024 were \u20ac0.155 (0.083) and \u20ac0.260 (0.190) for the first half of 2024<\/li>\n<\/ul>\n<p>*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets<\/p>\n<hr\/>\n<p><strong>Key highlights<\/strong><\/p>\n<ul>\n<li>Entered exclusive nationwide partnership with Choctaw Nation of Oklahoma, one of the largest tribes in the United States<\/li>\n<\/ul>\n<ul>\n<li>Multiple partner launches including key completions prior to the UEFA European Championship (Euros) of LiveScore in the UK and Svenska Spel in Sweden<\/li>\n<\/ul>\n<ul>\n<li>Industry veteran Werner Becher was announced as successor to Kristian Nyl\u00e9n as CEO<\/li>\n<\/ul>\n<ul>\n<li>The Board decided to withdraw its 2027 financial targets following a review of the underlying assumptions as slower than expected progress towards regulation in certain key markets would likely delay revenue<\/li>\n<\/ul>\n<ul>\n<li>Completed the fourth share buyback programme and announced a new long-term capital allocation policy with the objective of returning capital to shareholders through buybacks<\/li>\n<\/ul>\n<hr\/>\n<p><strong>CEO comment<\/strong><\/p>\n<p><em>\u201cIn the second quarter, operator turnover increased 3% year-on-year, although was up 20% when excluding the impact of the Penn online migration. This was driven by a busy sporting calendar and the growth of new and existing partners. Operator trading margin was 10.3%, boosted by higher than average margin from the June games in the Euros soccer tournament. With operating costs broadly flat, EBIT came in at \u20ac6.2 million, up 67% year-on-year.<\/em><\/p>\n<p><em>In April, we strengthened our US and tribal network through an exclusive US-wide partnership with Choctaw Nation of Oklahoma, operator of Choctaw Casinos &#38; Resorts. Choctaw owns a variety of gaming and hospitality destinations throughout southeastern Oklahoma, close to the Texas border, and is the exclusive casino and resort partner of the Texas Rangers, Major League Baseball\u2019s World Series Champion. While Texas has yet to regulate sports betting, previous attempts to pass legislation would have seen licences tethered to the state\u2019s sports franchises. We expect this will be the case again next year when we anticipate another effort to bring regulated sports betting to what is one of the largest states in the US.<\/em><\/p>\n<p><em>Ahead of the Euros, we successfully delivered on two major partner launches, with LiveScore in the UK and Svenska Spel\u2019s Oddset brand. These were both important accomplishments, carried out in parallel and requiring various bespoke developments. In the case of Svenska Spel, our front end division Shape Games was also successful in delivering its technology to enable the launch. The Euros and Copa America tournaments saw us provide all our partners with a market-leading product, enhanced by the delivery of expanded player props markets and Bet Builder capability via our AI trading division Tzeract. During the second half of June, activity on the Kambi platform was at its highest ever levels in terms of bets processed and number of players per day, with our partners receiving an uninterrupted high-quality service throughout.<\/em><\/p>\n<p><em>On 1 July, I was pleased that we announced Werner Becher would be succeeding me as CEO from 25 July. With vast experience from the technology and gaming industries, most recently a senior executive at global sports data supplier Sportradar, I have every confidence Werner is the right person to lead Kambi into a new era of multi-product provision. I will be offering my full support to Werner from my new position on the Board of Kambi, where I will also help guide our long-term strategy.<\/em><\/p>\n<p><em>I would like to take this opportunity to thank all Kambi employees, past and present, for their hard work and dedication during my time as CEO over the past 14 years, as well as everyone else who has supported Kambi along the way. I am proud of what we have achieved together and I firmly believe the foundation we have built positions us for future success.\u201d<\/em><\/p>\n<hr\/>\n<p>You are invited to participate in a web presentation at 9.00 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%2F49097&#38;data=05|02|Chris.Stutzman%40kambi.com|552fc2205c2540fa36f508dc9434432e|e3ec1ec4b9944e9e82e080234621871f|0|0|638548199436194556|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D|0|||&#38;sdata=3Q%2BwAdBoPQNFSMvS%2FjbwHidYnHkPnWEu8gXAsQCd1MM%3D&#38;reserved=0\" rel=\"noopener\" target=\"_blank\">https:\/\/financialhearings.com\/event\/49097<\/a><\/p>\n<p>Link to the webcast:<\/p>\n<p><a href=\"https:\/\/gbr01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fir.financialhearings.com%2Fkambi-group-q2-report-2024&#38;data=05|02|Chris.Stutzman%40kambi.com|552fc2205c2540fa36f508dc9434432e|e3ec1ec4b9944e9e82e080234621871f|0|0|638548199436176337|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D|0|||&#38;sdata=QSzsNEJeOpc%2FAjcNz4mJhEnjlMUrE0b3nOWsPGtWGgY%3D&#38;reserved=0\" rel=\"noopener\" target=\"_blank\">https:\/\/ir.financialhearings.com\/kambi-group-q2-report-2024<\/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:\u00a0<a href=\"https:\/\/gbr01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fconference.financialhearings.com%2Fteleconference%2F%3Fid%3D50049097&#38;data=05|02|Chris.Stutzman%40kambi.com|552fc2205c2540fa36f508dc9434432e|e3ec1ec4b9944e9e82e080234621871f|0|0|638548199436186849|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D|0|||&#38;sdata=ZYXdWtzdOz3Ta3vdvvQZztYdzGBFwgBIF0TcGH7lp1E%3D&#38;reserved=0\" rel=\"noopener\" target=\"_blank\">https:\/\/conference.financialhearings.com\/teleconference\/?id=50049097<\/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 &#38; Sustainability<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 Group is the industry\u2019s trusted provider of a range of sports betting services to licensed B2C gaming operators. Kambi Group operates four product-led divisions: leading sportsbook and odds feed provider Kambi Sportsbook, esports data and odds supplier Abios, front end technology experts Shape Games and cutting-edge AI trading division Tzeract. Kambi Group\u2019s partners include ATG, Bally\u2019s Corporation, Corredor Empresarial, Kindred Group, LeoVegas, LiveScore, Rush Street Interactive and Svenska Spel. Kambi Group 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 2024-07-24 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\/a\/kambi-group\/bda06464-15ec-479d-915c-11df13496677\/kambi-group-plc-q2-2024-report.pdf\" rel=\"noopener\" target=\"_blank\">Kambi Group Plc Q2 2024 Report<\/a><\/p>\n<\/div>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"wpcf-remoteid":"6690dd91-c6ff-4464-a861-202a172e1cb4","wpcf-regulated":"1","wpcf-isfinancial":"0","wpcf-publishedyear":"2024","wpcf-published":"1721799900","banc-mfn-type":"ir","banc-mfn-lang":"en"},"press_release_type":[262,258,261,263,54,58],"class_list":["post-3369","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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