- Kindred maintains its business momentum from the previous quarter with the total revenue for the first quarter of 2022 amounting to approximately GBP 247 million.
- Compared to the first quarter of 2021, activity has been impacted by the decision to temporarily cease activity in the Dutch market. Kindred’s active markets have performed well against the very tough comparative period, a decline of 5 per cent (1 per cent in constant currency), highlighting the importance of a diversified market footprint.
- The temporary negative impact of the Netherlands, combined with continued selective investments in future growth, is estimated to result in an underlying EBITDA of approximately GBP 25 million for the first quarter of 2022.
Kindred Group plc (Kindred) has, despite headwinds, delivered a solid quarter with total Group revenue of approximately GBP 247 million (Q1 2021: GBP 352.6 million). Total revenue declined by 30 per cent (27 per cent in constant currency) compared to the same period last year as it was impacted by the decision to temporarily cease activity in the Dutch market on 30 September 2021. Excluding the impact of the Netherlands, the corresponding decline was reduced to 5 per cent (1 per cent in constant currency) and is primarily a result of the tough comparative period.
Underlying EBITDA for the first quarter of 2022 is estimated at approximately GBP 25 million (Q1 2021: GBP 106.0 million) which is at a similar level to the results presented for the fourth quarter of 2021.
The interim report for the first quarter of 2022 will be published on 28 April 2022 at 07.30 CEST. The following results presentation and Q&A session will be available through webcast at 10.00 CEST on the same day.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the contact person, on 08-04-2022 14:30 CET.
For more information:
Patrick Kortman, Head of Corporate Development & Investor Relations, +46 723 877 438
Linda Lyth, Investor Relations Manager, +46 767 681 337
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). 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.
Nasdaq Stockholm, KIND-SDB