Kambi Group Forecast Good Future

Kambi Group Plc has forecasted a very good future and has greatly improved its full-year earnings.

In Q4, Kambi recorded a 2 percent increase in trading margin, up to 9.4 percent. This is due to a ‘extended run of favourable sporting results, across multiple sports and all key markets.’

The firm’s Q4 stock trading revenue exceeded the company’s custom trading average of 7-8 percent resulting in a Q4 stock trading revenue range of €46 – 48million (Q4 2019: €26.7 million).

As a result, the Stockholm-listed technology group increased its Q4 earnings to a range of $21 – $24 million.

Kambi’s full-year earnings are now forecast at €31 – 34 million – upgraded from €14.7 million last year.

Kambi’s update showed that Q4 expenses would be higher than previously predicted, with a figure between €24-25 million. The company attributed the charges to being unable to obtain a tax ruling due to it being a part of a multinational.

Since the firm’s share price is impacted by Kambi’s price movements, it anticipates operating expenses to be between €23.5 – 24.5 million for Q1 2021.

Kambi will release its financial calendar at 10:45 CET on Wednesday, 10 February, followed by a leadership update at 10:45 CET.

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.