Stockholm-listed European online gambling operator Kindred Group Plc, closes a successful and transformative 2017, as the company records a further ‘all-time high’ performance for its Q4 2017 trading.
Publishing its ‘unaudited’ Q4 and full-year 2017 trading update (period ending 31 December), Kindred governance details a strong end of year trading which saw the company generate Q4 gross winnings of £238 million (Q4 2016: £152 million).
“Strong growth across our major markets and an exceptional sportsbook margin approximately 50 percent above the long-term average, have resulted in record revenue and profitability for Kindred Group in the fourth quarter of 2017.” Detailed Kindred Group Chief Executive Henrik Tjärnström,
High wagering activity recorded during the quarter would see Kindred declare a period underlying EBITDA for Q4 2017 of £74.5 million (Q4 2016: £39.3 million).
Reporting on its full-year 2017 trading, an enlarged Kindred group has delivered a record £751 million in gross wagering (FY2016: £544 million), combined with a group FY 2017 EBITDA of £185 million (FY2016: £123 million).
“Our investments in marketing and product development have also resulted in an all-time high in EBITDA and number of active customers. Gross winnings revenue grew by 56 percent as reported and by 42 percent organic and in constant currencies, compared to the same period last year.” Tjärnström further stated
Closing its 2017 trading, Kindred governance declares Q4 2017 group profits before tax of £55.9 million (Q4 2016: £30.1 million), helping achieve full-year 2017 group profits of £132.0 (FY2016: £92.8 million).
Kindred governance looks forward to 2018, a World Cup year in which its services and operations will be boosted by the full integration of 32Red assets (£175 million deal completed June 2017).
Updating investors, Kindred governance is set to publish its full-year ‘2017 Annual Report’ on 12 March 2018.
Kindred Group – Q4 & FY2017 Underlying Performance Summary
Source: SBC News
