Kambi expects strong revenue growth for Q4


Kambi expects strong revenue growth for Q4

In its trading update, Kambi said it expects its Q4 2020 revenue to rise by up to 80% year-on-year, after a strong quarter of sporting activity.

The sports betting supplier is expecting Q4 revenue to reach between €46m ($56.4m) and €48m, up from €26.7m in the same period in 2019, after what it described as strong operator trading margin and continued momentum in operator turnover.

It also mentioned a return to a packed sporting schedule across key markets, including a full fixture list of European football, which should see operator trading margin of 9%, higher than the expected average long-term margin of between 7 and 8%.

Q4 expenditure is expected to rise from €20.5m in 2019 to between €24m and €25m, which the supplier says is higher than previous guidance due to additional social security costs in relation to its share option programmes, driven by a rise in Kambi’s share price.

EBIT for Q4 is estimated to be in the range of €21m to €24m, up from €6.2m in the same period a year prior, and between €31m and €34m for full-year 2020, a stark rise from €14.7m recorded in 2018.

If Q4 revenue reaches the higher end of the estimations, that would see Kambi’s FY 2020 revenue increase by 29% from 2019 up to €118.8m, despite the heavy disruption and suspension to the sporting calendar.

In Q3, Kambi saw its revenue increase 22% from the previous year to €28.1m following the return of sport, after a 32% yearly decline for Q2, down to €14.8m at the height of worldwide lockdown.


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