“The landmark signings of Svenska Spel and LiveScore Group are Kambi’s most significant partner agreements with existing sports betting revenue in our history and represent a major step forward towards our long-term strategic goals”
Kristian Nylén, Kambi CEO and Co-founder
Financial summary
Revenue amounted to €42.1 (Q3 2022: 36.7) million for the third quarter of 2023 and €129.0 (2022: 108.2) million for the period January to September of 2023. Revenue includes certain non-recurring items as explained in the report.
Operating profit (EBIT) for the third quarter of 2023 was €4.6 (3.9) million, at a margin of 11.0% (10.6%), and €12.8 (16.1) million, at a margin of 9.9% (14.9%) for the period January to September of 2023
EBITA (acq)* for the third quarter of 2023 was €6.0 (4.2) million, at a margin of 14.1% (11.5%), and €16.7 (17.1) million, at a margin of 13.0% (15.8%), for the period January to September of 2023
Cash flow (excluding working capital and M&A) amounted to €6.1 (1.8) million for the third quarter of 2023 and €9.5 (7.3) million for the period January to September of 2023
Earnings per share for the third quarter of 2023 were €0.117 (0.084) and €0.306 (0.370) for the period January to September of 2023
*EBITA (acq) = Earnings before interest, taxation and amortisation on acquired intangible assets
Key highlights
Underlying turnover growth of 9% when excluding the impact from Penn Entertainment’s (Penn) online migration
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.
Signed contract extensions with long-standing partners ATG and Rank Group which will continue to leverage Kambi’s Complete sportsbook
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
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
