Kambi gave testimony to glowing performance in last Q4 with revenues stockpiling to EUR9.3 million
Kambi Group, the sportsbook business-to-business supplier which operates under Swedish gambling laws, has announced sweeping growth over 2014 and admitted a lucrative last 3 months. The latter helped to heighten the overall year’s profits. There was an impressive improvement for each share, which was -0.937 posted at the end of 2013 and which moved to EUR 0.037, by the end of 2014.
The premium turnkey company, which covers over than 110,000 live betting events and 250,000 pre-match events per year worldwide, accumulated a whopping EUR 36 million in revenues in 2014. This is a massive 70% rise from EUR 21.1 million in the previous year. Net profit after tax was elevated from a negative EUR 18.7 million to EUR 1 million. Operating profit (EBIT) shot up from minus EUR19.9 million to a EUR2.2 million.
Events that helped make Q4 a success
Operating profit from October to December 2014 was EUR 9.3 million. However, for the same period in 2014, it went up to EUR 600,000. Also net profits rose to EUR 200,000 from minus EUR 8.6 million. Kambi also owes its success in 2014 to the prolongation of its contract with Napoleon Games, increased use of online sportsbook in Sweden and its confirmed membership with the Latin American Corporation of State Lottery and Betting.
Chief executive officer of Kambi, Kristian Nylén, commented that “The 4th quarter showed further evidence of the success of our business model. This illustrates the solid base for the company’s future. The New Year has started on a positive note and the continuous efforts to build our pipeline of targets give us reassurance for future growth potential.”