Publishing its financial summary for the first quarter of the year, sportsbook provider Kambi recorded revenue of €14.2m, up seven per cent on the €13.3m posted in Q1, 2016.
However, operating profit (EBIT) for Q1 was €1.4m, at a margin of 10 per cent - down year on year from €2m at 15 per cent margin.
Profit after tax amounted to €1.1m. down from €1.8m year on year. In a statement, the company said that football events with “player-friendly outcomes led to a below-average trading margin.”
"I'm very pleased to see continued success from our operators, as demonstrated by their ongoing rapid growth trend,” said Kristian Nylén, CEO.
“The latter part of the quarter resulted in an unusually high number of player-friendly outcomes in the major football leagues, which impacted the trading margin. It is in the nature of the business for the trading margin to fluctuate between quarters depending on the result of sporting events.
“The underlying strong performance and momentum within the company is unaffected by these events. This makes me confident in our strategy and business model, which creates value for our operators.
“We are delighted to have signed a contract with Greentube in February and look forward to helping expand its online sports betting offering with Kambi's premium sportsbook across Europe.”
