Kindred Group has announced all-time high fourth-quarter results.
Boosted by a large sportsbook margin, the Stockholm-listed company’s release of unaudited figures revealed Q4 gross winnings revenue of £238m. Over the full year, revenue was £751.4m.
"Strong growth across our major markets and an exceptional sportsbook margin, approximately 50 per cent above the long-term average, have resulted in record revenue and profitability for Kindred Group in the fourth quarter of 2017,” said CEO Henrik Tjärnström.
“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 per cent as reported and by 42 per cent organic and in constant currencies, compared to the same period last year."
With underlying EBITDA in Q4 2017 reaching £74.5m, that is a figure that represents a 90 per cent rise on the same period a year earlier. For the full year, underlying EBITDA was £185m.
Profit before tax for the fourth quarter amounted to £55.9m and £132m for the full year 2017. For Q4, this includes non-cash fair value adjustments of £6.1m relating to the accelerated amortisation of acquired assets. These fair value adjustments amounted to £9.2m for the full year 2017.
Profit after tax for Q4 2017 amounted to £50.8m and £117.4 for the full year 2017 and the number of active customers over the final quarter was 1,329,124.
The company’s board proposes a dividend distribution to shareholders of £125.5m.
Kindred is this year set to fully integrate its acquisition 32Red, which it secured in a £175m deal last June.
