Stockholm Nasdaq-listed online betting platform provider Kambi Group Plc (Kambi) continues its positive 2016 momentum as the company welcomed new partners in its latest quarter performance
Publishing its ‘unaudited’ Q3 2016 update (period ending 30 September), Kambi recorded a 15% revenue gain to €14.8 million (Q3 2015: €12.8 million). Its positive Q3 revenues, would see the Kambi post year-to-date corporate revenues of €41million (YTD 2015: €33 million).
Kambi governance was pleased to report growth across all top-line metrics for both quarter and YTD performance.
Operating profit (EBIT) for the third quarter of 2016 was €3.1 million (Q3 2015: €2.5 million), with a margin of 21% resulting in €7.0 million YTD January to September 2016 performance (YTD 2015: €4 million), aided by an operating margin of 17% (2015: 12%).
Detailing period highlights, Kambi governance noted the firm’s strong performance during Euro 2016, a key period for its operations.
In Q3, Kambi announced a major supplier partnership with Novomatic Lottery Solutions, which sees the company become the lead sports betting platform provider to Novomatic partners.
Updating investors, Kristian Nylén, CEO of Kambi commented on Kambi Q3 and YTD performance
“I am really pleased to deliver an excellent set of results for Q3. Our unparalleled service drove a 37% growth in operator turnover, which led to strong results for Kambi of 25% growth in operating profit.”
“I am highly encouraged by the partnership we have signed with the prestigious gaming company NOVOMATIC Lottery Solutions, where we are joining forces to create a state-of-the-art omni-channel solution for government regulated lotteries, which is a key target segment for Kambi. This partnership strengthens our outreach to potential clients in the lottery sector.”
“Part of our growth strategy is to build on our retail offering. We have seen tangible results as our retail service is being rolled out in several regions and is gaining momentum.”