Kindred Group reports a 34% drop in revenue for the first half of 2022 (Video)

 Kindred Group has published the financial results for the first half of 2022, in which its revenues have fallen by 34%
The Kindred Group highlights the following aspects of the semester ending June 30:
  • Total revenue, from both B2B and B2C operations, was €572 million, compared to €844 million for the same period in 2021.
  • Gross profit revenue (B2C) decreased by 34% (32% in constant currency) to €561.3 million (€844.96 million in 2021), as the Group continued to be affected by the loss of Dutch revenue. Excluding the Netherlands, gross profit revenue decreased by 10% (8% in constant currency).
  • Underlying EBITDA decreased by 77% to €58.74 million (€259.16 million in 2021).
  • The profit after tax was 6.84 million euros (102.74 million in 2021) million. Profit after tax was €14.39 million (€188.38 million in 2021).

The group also mentions the following key points:
  • Tough comparatives continued, impacted by Euro 2020 and higher sports betting margins in the second quarter
  • of 2021, as well as COVID-19 normalisation.
  • Development and delivery of the Kindred Sportsbook Platform remains firmly on track, with all milestones to date
  • achieved.
  • Off to a good start in the Netherlands since launching on 4 July, after being granted a license on 8 June.
  • Short-term pressures from stricter affordability efforts in the UK will support long-term sustainable revenues.
  • Nordic region continues to perform well, despite enhanced affordability controls.

Considering the announced data, Henrik Tjärnström, CEO of the Kindred Group, expressed his optimism for the future: "After a period of short-term headwinds, I look to the future with confidence as we see good progress with the Group's key strategic priorities. We have received our long-awaited Dutch license, our Kindred Sportsbook Platform (KSP) remains firmly on track, and Relax Gaming continues to show strong numbers. been giving a skewed view of our performance".

Read full report (PDF)

Watch video of the presentation
18+ | –
Información de cookies y web beacons
Esta página web utiliza cookies propias y de terceros, estadísticas y de marketing, con la finalidad de mejorar nuestros servicios y mostrarle información relacionada con sus preferencias, a través del análisis de sus hábitos de navegación. Del mismo modo, este sitio alberga web beacons, que tienen una finalidad similar a la de las cookies. Tanto las cookies como los beacons no se descargarán sin que lo haya aceptado previamente pulsando el botón de aceptación.
Cerrar Banner