Maltese online wagering technologies innovator Kambi Group has released its financial results for the final three months of 2020 showing that its aggregated revenues rose by 76% year-on-year to top €46.9 million ($56.8 million).
The Valletta-headquartered firm used an official Wednesday press release to declare that this outcome was attributable to ‘a busy sporting calendar, exceptional operator trading margin and growth in new markets’ despite the lingering impacts of the coronavirus pandemic and took its full-year revenues up by a comparable 28% to approximately €117.7 million ($142.7 million).
Kambi Group revealed that its fourth-quarter cash flow from operating and investment activities had swelled by almost 366% year-on-year to about €20.5 million ($24.8 million) and improved its associated annual tally by 233% to roughly €28.7 million ($34.8 million). The firm moreover explained that its operating profit for the three months to the end of December increased by 258% to around €22.2 million ($26.9 million) off of an improved margin of 47.3% to take its twelve-month reckoning some 119% higher to €32.2 million ($39 million).
The innovator additionally divulged that all of this took its aggregated fourth-quarter profit after tax to beyond €17.3 million ($20.9 million), which is an improvement of 276% year-on-year, and helped its correlated annual reckoning surge by 131.7% to €24.1 million ($29.2 million).
Kristian Nylen (pictured) serves as the Chief Executive Officer for Kambi Group and he used the press release to proclaim that his firm’s operator turnover index came in at 989, which he described as ‘a clear all-time high’, while its business model continued to showcase ‘the scalability it possesses with an operating margin of 47%.’
Read a statement from Nylen…
“As we reflect on what has been an exceptionally challenging twelve months, it’s particularly pleasing to complete the year with a record fourth-quarter performance and annual revenues up by 28%. At the start of 2020, full-year revenues of €117.7 million would have been deemed a great success, so to have delivered such a performance in spite of the sporting calendar being severely impacted for the best part of four months speaks volumes for the business we have created, our talented people and the upward trajectory we are on.”