Second quarter and first half year highlights
- New all-time high in Gross winnings revenue of GBP 166.6 (126.6) million for the second quarter of 2017, and GBP 319.8 (249.0) million for the first half of 2017.
- Underlying EBITDA for the second quarter of 2017 was GBP 33.4 (22.0) million, and GBP 63.7 (50.5) million for the first half of 2017.
- Gross winnings revenue contribution from 32Red was GBP 4.7 million and underlying EBITDA was GBP 1.2 million.
- Profit before tax for the second quarter of 2017 amounted to GBP 22.9 (15.4) million, and GBP 41.1 (37.9) million for the first half of 2017. For the quarter, this includes M&A costs of GBP 2.6 million related to the acquisition of 32Red.
- Profit after tax for the second quarter of 2017 amounted to GBP 20.4 (13.5) million and GBP 36.7 (33.5) million for the first half of 2017.
- Earnings per share for the second quarter of 2017 were GBP 0.090 (0.059) and GBP 0.161 (0.146) for the first half of 2017.
- Underlying earnings per share for the second quarter of 2017 were GBP 0.103 (0.063) and GBP 0.188 (0.154) for the first half of 2017.
- Number of active customers during the quarter was 1,171,166 (1,132,840). Of these, 39,268 were customers of 32Red.
“Strong organic growth in both Gross winnings revenue and EBITDA for the second quarter”.
“The marketing investments made in previous quarters have resulted in a new all-time high in Gross winnings revenue that was up 32 per cent compared to last year. In constant currency Gross winnings revenue increased by 22 per cent whilst the organic increase in Gross winnings revenue in constant currency was 18 per cent. Taking into consideration the lack of major tournaments this year, we are confident that we have continued to outpace market growth and have continued to take market share.”
“Our reported EBITDA increased by 45 per cent during the second quarter of 2017. Excluding items affecting comparability, underlying EBITDA grew by 52 per cent and 34 per cent in constant currency. The underlying organic EBITDA in constant currency was up 28 per cent.”
“In the second quarter of 2017, 38 per cent of the Group’s Gross winnings revenue came from locally regulated markets. The acquisition of 32Red will significantly accelerate our development and profitability in the world's largest locally regulated market. Gross winnings revenue from the mobile channel grew by 52 per cent and accounted for 73 per cent of total Gross winnings revenue in the second quarter".
“In the period up to 23 July 2017, average daily Gross winnings revenue in GBP was 20 per cent higher compared to the same period in 2016 (up 9 per cent excluding 32Red). Adjusting for the impact of exchange rate changes, the growth was 15 per cent (up 4 per cent excluding 32Red),” says Henrik Tjärnström, CEO of Kindred Group.
Today, Wednesday 26 July 2017, 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 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 number is
UK: +44 20 3008 9813 or in the USA: +1 855 831 5947.
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.
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 listed on Nasdaq Stockholm and is one of Europe’s largest providers of online gambling and digital contents. Kindred Group is home to 14 brands, which serve over 20.2 million customers worldwide. Kindred Group is licensed in Australia and 11 European member states. In November 2016 Kindred was awarded Operator of the year and Social responsible operator of the year and successfully completed 27 external regulatory audits. Kindred Group is a founding member of the European Gaming and Betting Association (EGBA) and 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.