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.