LONDON, Feb. 14, 2018 /PRNewswire/ --
Fourth quarter and full year highlights
- New all-time high in Gross winnings revenue of GBP 238.0 (152.8) million for the fourth quarter of 2017, and GBP 751.4 (544.1) million for the full year 2017.
- Underlying EBITDA for the fourth quarter of 2017 was GBP 74.5 (39.3) million, and GBP 185.0 (123.7) million for the full year 2017.
- Gross winnings revenue contribution from 32Red for the fourth quarter was GBP 18.8 million and underlying EBITDA was GBP 3.2 million.
- Profit before tax for the fourth quarter of 2017 amounted to GBP 55.9 (30.1) million, and GBP 132.0 (92.8) million for the full year 2017. For the fourth quarter, this includes non-cash fair value adjustments of GBP 6.1 million relating to the accelerated amortisation of the acquired assets. These fair value adjustments amounted to GBP 9.2 million for the full year 2017.
- Profit after tax for the fourth quarter of 2017 amounted to GBP 50.8 (29.4) million and GBP 117.4 (83.9) million for the full year 2017.
- Earnings per share for the fourth quarter of 2017 were GBP 0.223 (0.129) and GBP 0.516 (0.366) for the full year 2017.
- Underlying earnings per share for the fourth quarter of 2017 were GBP 0.253 (0.131) and GBP 0.578 (0.379) for the full year 2017.
- Number of active customers during the quarter was 1,329,124 (1,150,027).
- The Board of Directors propose a dividend of 0.551 (0.310) per share/SDR, which is approximately SEK 6.16 (3.46) per share/SDR and amounts to a proposed distribution to shareholders of GBP 125.5 (71.4) million.
- AGM to be held on Tuesday 15 May 2018 in Stockholm.
"A strong finish to 2017 resulted in another record quarter for revenue and profit"
"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. 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."
"In the fourth quarter, Gross winnings revenue from mobile grew by 55 per cent compared to the fourth quarter last year and amounted to 70 per cent of our total Gross winnings revenue. Of the Group's Gross winnings revenue, 42 per cent came from locally regulated markets."
"Our underlying EBITDA reached a new all-time high at GBP 74.5 million for the fourth quarter, up 90 per cent compared to the same period last year. The underlying organic EBITDA in constant currency was up 80 per cent."
"The strong performance of the Group resulted in an increase in free cash flow of 78 per cent for the full year 2017. The Board has reviewed the cash requirements for 2018 and is proposing a cash dividend of GBP 0.551, which represents a growth of 78 per cent compared to the previous year."
"In the period up to 11 February 2018, average daily Gross winnings revenue in GBP was 35 per cent higher compared to the same period in 2017. Adjusting for the acquisition of 32Red and the impact of exchange rate changes, the growth was 23 per cent," says Henrik Tjärnström, CEO of Kindred Group.
Today, Wednesday 14 February 2018, Kindred Group's CEO Henrik Tjärnström will host a presentation in English at FinancialHearings, Tändstickspalatset, Västra Trädgårdsgatan 15, in Stockholm at 9.00 CET.
Please go to financialhearings.com to sign in. The presentation is also webcast live on www.kindredgroup.com. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK: +44(0)20-3008-9818 or USA: +1 855-753-2235.
The Kindred Group companies hold local gambling licences in UK, France, Belgium, Denmark, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania and Estonia. The Kindred Group also holds international gambling licences in Malta and Gibraltar. The Kindred Group pays betting duties in all markets in accordance with applicable local laws.
The information in this report is such that Kindred Group plc is required to disclose under the EU Directive of Market Abuse Regulation.
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SOURCE Kindred Group