The leading business-to-business developer of sports betting services Kambi Group issued its unaudited report for the fourth fiscal quarter of 2016.
The Chief Executive Officer of Kambi Group Kristian Nylén commented on the company’s performance over the last three months of the previous fiscal year, saying he was excited with the fact that the supplier had managed to set foot in Latin America for the first time thanks to the partnership agreement with the Mexican media giant Televisa. Mr. Nylén explained that Kambi intended to continue making further investments in its Sportsbook offering in order to keep its position as the leading sports betting services and solutions supplier on the market.
What is more, the company’s boss added that the developer was focused on keeping its positions in the region and even expanding its presence there. He shared that the lower than average margins of the company over the three-month period came as a result of the user-friendly football outcomes in December.
As revealed by the sportsbook solutions supplier itself, its fourth-quarter revenue was estimated to €14.2 million, while there was a 17% increase in its full-year revenue amounting to €56 million. The operating profit before interest and taxes over Q4 of 2016 was €1.8 million, while the one for the full-year amounted to €8.8 million.
Profit after tax for the last three months of the fiscal 2016 reached €1.2 million and €7.5 million for the full year. According to the data revealed by Kambi Group, its cash flow generated from operating and investing activities reached €1.0 million over the fourth quarter of the past fiscal year, and amounted to €4.1 million for the full year.
The relatively low cash flow and moderate performance of Kambi Group came as a result of low margins due to customer-friendly football results in December 2016. On the other hand, the company has reached a number of milestones in its development, including the partnership deal with the Mexican media group Televisa under which Kambi is to provide its retail, online and mobile channels in Latin America. Only a week ago, Kambi also signed a collaboration deal with NOVOMATIC Interactive’s affiliate Greentube to expand its European presence even more.
- Author
Olivia Cole
