Kambi Group reports widespread growth in 2014

Sports betting services business-to-business supplier Kambi Group has posted widespread growth during the 12 months through to December 31, 2014, with its performance in the fourth quarter in particular boosting full-year results.

Full-year revenue at the company amounted to €36 million ($40.8 million), up 70% from €21.1 million in the previous year.

Profit after tax increased from minus €18.7 million to €1 million in the black while operating profit was up from a negative result of €19.9 million to a plus of €2.2 million.

Earnings per share for the year came in at €0.037, which represents a vast improvement on the -0.937 posted at the end of 2013.

Kambi was also helped by an impressive performance during the three months through to December 31, 2014, a period in which revenue amounted to €9.3 million, a year-on-year increase of 52%.

Operating profit for the fourth quarter jumped from a negative of €9.3 million in the same period in 2013 to a positive figure of €600,000 this year, while profit after tax grew from minus €8.6 million to a plus of €200,000.

Kristian Nylén, chief executive officer of Kambi, said: “The fourth quarter showed further evidence of the success of our business model.

“Kambi was profitable and cash flow positive, despite challenging results in some sporting events, which led to a slightly lower than average margin, of 7%, generated for our operators.

“This illustrates the solid base for the company’s future.

“The New Year has started on a positive note and the continuous efforts to build our pipeline of targets give us reassurance for future growth potential.”

source : www.igamingbusiness.com

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