Third quarter and the period January to September highlights
- New all-time high in Gross winnings revenue of GBP 193.6 (142.3) million for the third quarter of 2017, and GBP 513.4 (391.3) million for the period January to September 2017.
- Underlying EBITDA for the third quarter of 2017 was GBP 46.8 (33.9) million, and GBP 110.5 (84.4) million for the period January to September 2017.
- Gross winnings revenue contribution from 32Red was GBP 18.6 million and underlying EBITDA was GBP 3.7 million.
- Profit before tax for the third quarter of 2017 amounted to GBP 35.0 (24.8) million, and GBP 76.1 (62.7) million for the period January to September 2017. For the first nine months, this includes non-cash fair value adjustments of GBP 3.1 million relating to discontinued brands.
- Profit after tax for the third quarter of 2017 amounted to GBP 29.9 (21.0) million and GBP 66.6 (54.5) million for the period January to September 2017.
- Earnings per share for the third quarter of 2017 were GBP 0.131 (0.091) and GBP 0.293 (0.237) for the period January to September 2017.
- Underlying earnings per share for the third quarter of 2017 were GBP 0.137 (0.095) and GBP 0.325 (0.249) for the period January to September 2017.
- Number of active customers during the quarter was 1,219,761 (1,067,910). Of these, 120,171 were customers of 32Red.
“A record quarter for revenue and profit, supported by the acquisition of 32Red”
"I am delighted to report record revenues and profitability for Kindred Group in the third quarter of 2017 driven by strong growth across our major markets and solid cost control.”
“Despite the absence of a major football events this quarter, the organic Gross winnings revenue growth in constant currency was 17 per cent compared to the same period last year, which demonstrates that we continue to gain market share. 32Red contributed GBP 18.6 million of Gross winnings revenue and GBP 3.7 million of underlying EBITDA. This acquisition also brings new expertise into our teams and additional locally regulated revenue and opportunities for future revenue and cost synergies. In the third quarter of 2017, 41 per cent of the Group’s Gross winnings revenue came from locally regulated markets.”
“Our underlying EBITDA reached a new all-time high at GBP 46.8 million for the third quarter, up 38 per cent compared to the same period last year. The underlying organic EBITDA in constant currency was up 20 per cent.”
“Our focus on mobile strategy has enabled us to remain at the forefront of industry developments. In the third quarter, Gross winnings revenue from mobile grew by 51 per cent compared to the third quarter last year and amounted to 71 per cent of our total Gross winnings revenue.”
“In the period up to 22 October 2017, with approximately 50 per cent higher than normal sports book margins, average daily Gross winnings revenue in GBP was 68 per cent higher compared to the same period in 2016. Adjusting for the acquisition of 32Red and the impact of exchange rate changes, the growth was 57 per cent,” says Henrik Tjärnström, CEO of Kindred Group.
Today, Friday 27 October 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 to 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 9807 or in the USA: +1 855 752 2235.
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.
The information in this report is such that Kindred Group plc is required to disclose under the EU Directive of Market Abuse Regulation,
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 Large Cap, and is one of Europe’s largest online gambling operators. Kindred Group is home to 13 brands, which serve over 20 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.