Kambi highlights innovation as Q3 revenues rise 35%

Kambi Group this morning posted a 35% hike in revenues and a near trebling of operating profit (EBIT) in Q3, growth the sportsbook supplier attributed to continued innovation and strong customer performances.

Total revenues for the three months ended 30 September were €12.8m, up from the €9.5m recorded during the comparative period in 2014 which also included the tail end of the football World Cup.

Meanwhile a significant improvement in margin from 10% last year to 19% this year saw EBIT almost treble to €2.5m from the €0.9m registered in Q3 2014.

The figures represent Kambi’s strongest quarterly performance to date with revenues for the first nine months of the year now 25% ahead at €33.5m and profits after tax up from €0.7m to €3.3m.

Kambi chief executive Kristian Nylen said the results demonstrated its scalable business model and added it was close to adding more customers to a roster that includes the likes of Unibet, 888 and 32Red as operators look to cut costs by outsourcing their sportsbook product.

“We have continued to invest in our innovative and competitive offering,” Nylen said. “This has driven the growth of our customers and supported the strong financial results.

“We remain focused on signing new customers and are in a number of advanced discussions.

“We are well positioned and prepared to face a time of very exciting opportunities as the market continues to consolidate and become more competitive.

“The requirement for an outsourced premium sportsbook becomes greater as operators need to save cost whilst also delivering a service in which user experience is paramount,” he added.

Kambi’s share price was up 13% to SEK64.5 after early morning trading.