The net foreign exchange impact of the Kindred Group’s main trading currencies against its reporting currency of GBP is shown in the tables below. While this has no material impact on the underlying development in Kindred Group’s business, it does affect the reported results when translated into GBP.
The weighted average impact of GBP against Kindred Group’s main currencies was a positive impact on Gross winnings revenue of approximately 10-11 per cent in the first quarter of 2017 compared to the same period of 2016.
| Balance sheet rates: | |||||||||
| Rate to GBP | 31-Mar-16 | 31-Mar-17 | YoY Delta | ||||||
| SEK | 11.655 | 11.142 | 4.4% | ||||||
| NOK | 11.894 | 10.717 | 9.9% | ||||||
| EUR | 1.263 | 1.169 | 7.4% | ||||||
| DKK | 9.413 | 8.694 | 7.6% | ||||||
| AUD | 1.871 | 1.634 | 12.7% | ||||||
| Income statement averages for the quarter: | |||||||||
| Rate to GBP | Avg Q1 16 | Avg Q1 17 | YoY Delta | ||||||
| SEK | 12.117 | 11.054 | 8.8% | ||||||
| NOK | 12.383 | 10.452 | 15.6% | ||||||
| EUR | 1.300 | 1.163 | 10.5% | ||||||
| DKK | 9.695 | 8.646 | 10.8% | ||||||
| AUD | 1.987 | 1.634 | 17.8% | ||||||
For more information:
Inga Lundberg, Investor Relations, +44 788 799 6116
About Kindred Group
Kindred Group is listed on Nasdaq Stockholm Large Cap, and is one of Europe’s largest online gambling operators. Kindred Group is home to 13 brands, which serve over 16.5 million customers worldwide. Kindred Group is a 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.