First half 2021
CEO Henrik Tjärnström comments on the interim report for the second quarter 2021
"I'm pleased to see yet another great quarter for Kindred with continued growth across both the sports and casino product segments and a new all-time high in active customers of over 1.9 million. During the quarter, our business has performed exceptionally well with Gross winnings revenue increasing by 55 per cent compared to the same period in 2020 when the sports calendar was impacted by COVID-19."
"Our dedicated focus on costs and scalability, along with a strong sports betting margin, have had a positive impact on underlying EBITDA, which increased by 121 per cent compared to the second quarter of last year. This equals an impressive EBITDA margin of 31 per cent."
"The acquisition of the remaining outstanding shares in Relax Gaming, a high-margin and fast growing B2B business, is an important part of our long-term strategy and further increases our focus on product differentiation. I see great potential in this deal, granting us the ability to provide customers with more unique content, increasing our flexibility and improving our end to end customer experience."
"All product segments continue to show solid momentum, with the sports segment benefiting from a strong sports betting margin of 10.7 per cent after free bets in the quarter. Meanwhile, the casino segment has delivered a record quarter with 18 per cent growth compared to the same period last year, despite this being a sports-heavy quarter. This indicates that many of our casino customers remain loyal, even as restrictions start to ease across our markets, and is a testament to our customer experience."
"The third quarter of 2021 has started strong with the average daily Gross winnings revenue for the first 18 days of July 2021 being 15 per cent (20 per cent in constant currency) higher than the daily average for the full third quarter of 2020."
Kindred Group's presentation of the interim report
Kindred Group's CEO Henrik Tjärnström will host today, on Friday 23 July, a web presentation in English at 09.00 (CEST) which is web casted live on www.kindredgroup.com/Q22021.
For those who would like to participate in the telephone conference in connection with the presentation, please call:
UK: +44 33 3300 9273
USA: +1 833 5268 347
Please call well in advance for registration. There will be an opportunity to ask questions after the presentation.
This disclosure contains information that Kindred Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 23-07-202107:30 CET.
For more information:
Patrick Kortman, Head of Corporate Development & Investor Relations, Kindred Group plc
Tel: +46 723 877 438
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
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