Kindred Group plc - Interim report January – March 2018 (unaudited)
First quarter highlights
- Gross winnings revenue amounted to GBP 207.8 (153.2) million for the first quarter of 2018, an increase of 36 per cent.
- Underlying EBITDA for the first quarter of 2018 was GBP 47.5 (30.3) million.
- Gross winnings revenue contribution from 32Red for the first quarter of 2018 was GBP 17.9 million and underlying EBITDA was GBP 2.6 million.
- Profit before tax for the first quarter of 2018 amounted to GBP 33.6 (18.2) million
- Profit after tax for the first quarter of 2018 amounted to GBP 29.9 (16.3) million.
- Earnings per share for the first quarter of 2018 were GBP 0.131 (0.072).
- Underlying earnings per share for the first quarter of 2018 were GBP 0.140 (0.085).
- Number of active customers during the quarter was 1,383,201 (1,232,915).
“Gross Winnings Revenue up 23 per cent pure organically and all-time high in active customers”
"After an exceptional sportsbook margin in the fourth quarter last year, the margin has normalised in the first quarter of 2018 at 8.2 per cent after free bets. Gross winnings revenue grew by 36 per cent as reported and by 23 per cent organically and in constant currencies, compared to the same period last year.”
”In the first quarter, Gross winnings revenue from mobile grew by 34 per cent compared to the first quarter last year and amounted to 72 per cent of our total Gross winnings revenue. Of the Group’s Gross winnings revenue 42 per cent came from locally regulated markets.”
“Our underlying EBITDA grew by 57 per cent compared to the same period last year (+46 per cent organic and in constant currencies).”
"In Europe, the development of local licensing systems has continued and in Sweden the parliament will vote for a new modern licensing system on 7 June 2018. Outside Europe, during the year we are investigating if and how we can launch any of our brands in the USA."
“In the period up to 22 April 2018, average daily Gross winnings revenue in GBP was 52 per cent higher compared to the same period in 2017. Adjusting for the acquisition of 32Red and the impact of exchange rate changes, the growth was 40 per cent,” says Henrik Tjärnström, CEO of Kindred Group.
Today, Wednesday 25 April 2018, Kindred Group’s CEO Henrik Tjärnström will host a presentation in English at FinancialHearings, Tändstickspalatset, Västra Trädgårdsgatan 15, in Stockholm at 9.00 CEST.
Please go to financialhearings.com to sign in. The presentation is also webcast live on www.kindredgroup.com. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK: +44 20 3008 9811 or USA: +1 855 753 2235.
The Kindred Group companies hold local gambling licences in UK, France, Belgium, Denmark, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania and Estonia. The Kindred Group also holds international gambling licences in Malta and Gibraltar. The Kindred Group pays betting duties in all markets in accordance with applicable local laws.
The information in this report is such that Kindred Group plc is required to disclose under the EU Directive of Market Abuse Regulation.
For further information please contact:
Inga Lundberg, Investor Relations +44 788 799 6116
Henrik Tjärnström, CEO +46 723 878 059
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe and Australia, offering over 21 million customers across 11 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 1,400 people, is listed on Nasdaq Stockholm Large Cap and is a founding member of the European Gaming and Betting Association (EGBA) and founding member of ESSA (sports betting integrity). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.