Cambi plans hot summer and record first quarter results

Kambi Group Plc celebrated a record 2021 trading opening as the bookmaker technology provider, listed in Stockholm, achieved double-digit growth across all key operating indicators and KPIs as a result of significant growth in the bookmaker's network.

In publishing its first quarter trading reports, Kambi recorded the group's revenue in € 43.2 million - up to 55% from € 28 million recorded in 2020.

Investor Update, Kambi highlighted that its operator's turnover index exceeded '1.10 for the first time during the trading period' - equating to an increase of x 14 since the tech group's subsequent listing in the first quarter in 2014.

Cambi's record earnings were even higher. supported by significantly increased trade margins maintained at 43% (Q1 2019: 21%), helping the company generate operating income over a period of € 18.7 million - 173% growth over Q1 2020 by € 6.8 million

In support of its commercial activities, the Kambi sportsbook network has been strengthened through new partnerships with Racing & Western Australia Betting and Casino magic as well as an extended agreement with the Belgian Napoleon Sports & Casino .

Elsewhere, Kambi has retained its directives to expand US sales by launching its bookmaker products in the states of Michigan, USA. Illinois, Virginia and Arkansas - the latter became the 14th state in which Cambi provides regulated sports betting.

Positive trading results in the first quarter showed Cambi posted an after-tax profit of 15 million, up from 4.8 million euros for the first quarter of 2020 llion, helping the company increase cash flow from operating and investing activities to 16.5 million.

Cambi remains confident that his early momentum will continue throughout the remainder of 2021 as the company prepares for the summer season, including UEFA Euro 2020, America's Cup and the Olympics, and the return of annual summer tournaments including Wimbledon and Open.

CEO of Kambi Group, Christian Nielen commented on the first quarter of trading: “I am pleased to report that the exceptional results we achieved in the second half of last year continued into 2021, with significant growth in a number of KPIs, including operator turnover. , revenue and operating margin. We also continued our impressive sales momentum by signing new partners and expanding into key target markets.

“The operator turnover index surpassed 1.10 for the first time since the record quarter when operator turnover more than doubled from the previous year. -year, with the proviso that the last two weeks of the first quarter of 2020 are affected by COVID - 21.

“This strong performance was driven by a busy sports calendar, including the end of the NFL season and March Madness College. basketball tournament, and more than made up for the planned relocation of much of 888's business from the Kambi sportsbook in January. "