{"id":3413,"date":"2023-11-01T06:45:00","date_gmt":"2023-11-01T05:45:00","guid":{"rendered":"https:\/\/staging.kambi.com\/investors\/news-pr\/kambi-group-plc-q3-report-2023\/"},"modified":"2023-11-01T06:45:00","modified_gmt":"2023-11-01T05:45:00","slug":"kambi-group-plc-q3-report-2023","status":"publish","type":"press_release","link":"https:\/\/www.kambi.com\/pt-br\/investors\/news-pr\/kambi-group-plc-q3-report-2023\/","title":{"rendered":"Kambi Group plc Q3 Report 2023"},"content":{"rendered":"<div class=\"mfn-body\">\n<p><em>\u201cThe landmark signings of Svenska Spel and LiveScore Group are Kambi\u2019s most significant partner agreements with existing sports betting revenue in our history and represent a major step forward towards our long-term strategic goals\u201d<\/em><\/p>\n<p><em>Kristian Nyl\u00e9n, Kambi CEO and Co-founder<\/em><\/p>\n<p>Financial summary<\/p>\n<ul>\n<li>Revenue amounted to \u20ac42.1 (Q3 2022: 36.7) million for the third quarter of 2023 and \u20ac129.0 (2022: 108.2) million for the period January to September of 2023. Revenue includes certain non-recurring items as explained in the report.<\/li>\n<\/ul>\n<ul>\n<li>Operating profit (EBIT) for the third quarter of 2023 was \u20ac4.6 (3.9) million, at a margin of 11.0% (10.6%), and \u20ac12.8 (16.1) million, at a margin of 9.9% (14.9%) for the period January to September of 2023<\/li>\n<\/ul>\n<ul>\n<li>EBITA (acq)* for the third quarter of 2023 was \u20ac6.0 (4.2) million, at a margin of 14.1% (11.5%), and \u20ac16.7 (17.1) million, at a margin of 13.0% (15.8%), for the period January to September of 2023<\/li>\n<\/ul>\n<ul>\n<li>Cash flow (excluding working capital and M&amp;A) amounted to \u20ac6.1 (1.8) million for the third quarter of 2023 and \u20ac9.5 (7.3) million for the period January to September of 2023<\/li>\n<\/ul>\n<ul>\n<li>Earnings per share for the third quarter of 2023 were \u20ac0.117 (0.084) and \u20ac0.306 (0.370) for the period January to September 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 highlights<\/p>\n<ul>\n<li>Underlying turnover growth of 9% when excluding the impact from Penn Entertainment\u2019s (Penn) online migration<\/li>\n<\/ul>\n<ul>\n<li>Revenue growth of 15% year-on-year, boosted by certain non-recurring fees in relation to Penn and Shape Games. Please see further details in the report.<\/li>\n<\/ul>\n<ul>\n<li>Signed contract extensions with long-standing partners ATG and Rank Group which will continue to leverage Kambi\u2019s Complete sportsbook<\/li>\n<\/ul>\n<ul>\n<li>Entered into a long-term sportsbook platform and front end agreement with the leading Swedish operator Svenska Spel, benefiting from its established customer base and revenue streams<\/li>\n<\/ul>\n<ul>\n<li>Signed a long-term sportsbook partnership with sports media and betting operator LiveScore Group to power its established LiveScore Bet and Virgin Bet brands, with a meaningful revenue impact expected from second half 2024<\/li>\n<\/ul>\n<hr\/>\n<p><em>The landmark signings of Svenska Spel and LiveScore Group are Kambi\u2019s most significant partner agreements with existing sports betting revenue in our history and represent a major step forward towards our long-term strategic goals. As well as being fantastic agreements in their own right, these partnerships reflect the wider demand we see for our Complete sportsbook service, with them coming shortly after the signing of Bally\u2019s Corporation, along with seven other partner signings during the year.<\/em><\/p>\n<p><em>This demand is, in part, due to the enhanced differentiation capabilities we have built over the years. Both LiveScore Group and Svenska Spel are established operators with strong brands, large customer bases and meaningful existing revenue, therefore it was crucial for them to be able to offer their sportsbook their way, aligned with their brand and packaged specifically for their customers. It\u2019s also worth highlighting the operators\u2019 commitment to and belief in the outsourced sportsbook model, laying the foundation for long and successful partnerships.<\/em><\/p>\n<p><em>LiveScore Group\u2019s media product is the go-to live streaming and scores app for more than 50 million monthly users across the world. The operator is leveraging this popular platform to further engage users with exciting sports betting opportunities in various markets, with its LiveScore Bet and Virgin Bet brands among the fastest growing in the UK. LiveScore Group will soon complement its media-led acquisition channel with Kambi\u2019s Complete sportsbook platform, better equipping the company to retain players and expand into additional markets. LiveScore Group has ambitious growth plans and we look forward to being part of this exciting journey.<\/em><\/p>\n<p><em>Svenska Spel is one of the most prominent brands in Sweden and represents a major partner win for Kambi. Svenska Spel has faced increased competition since the 2019 re-regulation of the Swedish market and plans to address this by transitioning to Kambi\u2019s leading sportsbook. The operator will also be utilising the front-end expertise of Kambi Group\u2019s Shape Games to enable greater product differentiation, making this an even more significant partnership for Kambi.<\/em><\/p>\n<p><em>Although these signings won\u2019t deliver revenue straight away, we do expect to see a meaningful revenue impact from H2 2024. Meanwhile, Kambi\u2019s financial performance in Q3 2023 was robust with a 15% year-on-year revenue rise, which included certain non-recurring revenues from Penn and Shape Games. Operator turnover was up 9% when adjusting for the online migration of Penn.<\/em><\/p>\n<p><em>As discussed in Q2, we are moving forward with the incubation of our innovative AI-powered trading unit, which from today will be known as \u2018Tzeract\u2019. Tzeract is already powering much of our pre-match soccer pricing and in the coming months will expand to offer live soccer and tennis. The impact Tzeract is having on our pricing and product is tremendous and we believe we can unlock even greater value by offering Tzeract as a standalone module, similar to Abios and Shape Games and in line with our long-term strategy. With a test customer in place, ongoing discussions with a range of other operators and having already earned multiple industry accolades, I believe Tzeract has an exciting future.<\/em><\/p>\n<p><em>Overall, I am pleased with the progress we are making with our long-term plan, across commercial and product. As I have said before, the road to our 2027 goals won\u2019t be linear and the partner signings announced in recent weeks will only be reflected in the numbers from the second half of next year. The long-term picture looks bright and we remain confident in our ability to deliver on our aims and cement Kambi\u2019s position as the number one sportsbook supplier in the world.\u201d<\/em><\/p>\n<hr\/>\n<p>You are invited to participate in a web presentation at 10.45 CET 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\/46434\" rel=\"noopener\" target=\"_blank\">https:\/\/financialhearings.com\/event\/46434<\/a><\/p>\n<p>Link to the webcast:<\/p>\n<p><a href=\"https:\/\/ir.financialhearings.com\/kambi-group-q3-report-2023\" rel=\"noopener\" target=\"_blank\">https:\/\/ir.financialhearings.com\/kambi-group-q3-report-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=5003141\" rel=\"noopener\" target=\"_blank\">https:\/\/conference.financialhearings.com\/teleconference\/?id=5003141<\/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, Rush Street Interactive and Svenska Spel. 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 2023-11-01 07:45 CET.<\/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\/14519a6b-59f7-4e6c-b94e-7fb36ebbec06\/kambi-group-plc-q3-2023-report.pdf\" rel=\"noopener\" target=\"_blank\">Kambi Group Plc Q3 2023 Report<\/a><\/p>\n<\/div>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"wpcf-remoteid":"16d9a631-c7b2-4df2-9856-b3f6bd5b3f79","wpcf-regulated":"1","wpcf-isfinancial":"0","wpcf-publishedyear":"2023","wpcf-published":"1698821100","banc-mfn-type":"ir","banc-mfn-lang":"en"},"press_release_type":[262,258,261,272,54,58],"class_list":["post-3413","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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