Financial Summary
The first quarter of 2024 saw revenue amounting to €43.2 million, slightly lower compared to Q1 2023 figures. Operating profit, also known as EBIT, stood at €4.4 million, with a margin of 10.2%. EBITA (acq) for the same quarter was at €5.8 million, with a margin of 13.3%. Additionally, cash flow, excluding working capital and M&A, reached €5.4 million. Earnings per share stood at €0.107 for the first quarter of 2024. Notably, the 2024 AGM will be held on 21 May 2024, with the Board recommending no dividend payout.
Key Highlights
During the first quarter of 2024, significant developments included Tzeract’s partnership with European operator kwiff for the Bet Builder product, extending the retail sportsbook partnership with Penn Entertainment to December 2025, launching LiveScore Group’s Kambi-powered sportsbook in Nigeria and the Netherlands, and ongoing efforts in developing an open platform and trading gateway.
CEO Comment
Regarding the financial performance, Kambi Group plc’s CEO mentioned the revenue of €43.2 million meeting expectations, with expenses below the guidance at €39.0 million. The CEO highlighted the successful launch of LiveScore Group’s sportsbook in Nigeria and the Netherlands, signaling progress towards long-term objectives and upcoming ventures in the UK. Emphasis is placed on product integration to offer diverse content to operators, strengthening Kambi’s solution. The company’s strategy includes modularization to provide flexible odds feeds and enhance product quality.
The CEO also addressed Tzeract’s milestone in securing its first commercial partnership with kwiff for the Bet Builder product, marking a significant achievement for the division. Kambi Group plc remains dedicated to innovation and product excellence, positioning itself as a leader in sports betting technology.
An invitation was extended for a web presentation with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon, offering insights into the company’s performance and future plans.