Kambi CEO’s remuneration swelled by nearly a third in 2022

Kristian Nylén, the CEO of Kambi, received a 31% year-on-year (YoY) bump in his total pay packet to €1.28m (£1.13m) for 2022, the sports betting provider has revealed.

As part of its annual report and accounts, published on 30 March, the company disclosed that the Swede received a base salary of €751,000.

The remainder of his remuneration for the year was a €338,000 performance-related bonus and €189,000 in share-based payments.

Nylén, who has been CEO of Kambi since the firm’s formation in 2010, holds 742,500 shares and 77,500 options in the group. He did not exercise any share options in 2021.

Kristian Nylén

Meanwhile the rest of the executive management team, comprising CFO David Kenyon, COO Erik Lögdberg, CCO Cecilia Wachtmeister and chief legal officer David Carter, received €1.9m between them.

This was a 57% increase on the €1.2m the management team picked up collectively in 2021, although Carter did not join the executive management team until 2022.

The pay package announcements come after the Stockholm-listed supplier, which has a market cap at the time of writing of SEK5.6bn (£437m), recently announced a 2.2% rise in revenue in 2022 to €166m.

However, operating profit, or EBIT, fell from €57m to €34.8m, meaning operating margin was down from 35.1% in 2021 to 20.9% in 2022.

In January, the board agreed to adopt long-term financial targets, including revenue reaching 2-3x full-year 2022 levels, or approximately €300m-€500m.

The supplier is also aiming for operating profit north of €150m, which would be around a 2.6x increase on last year’s amount.