Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Kindred Group plc - Interim Report January - June 2020 (Unaudited)


News provided by

Kindred Group

24 Jul, 2020, 05:48 GMT

Share this article

Share toX

Share this article

Share toX

Second quarter and first half year highlights

LONDON, July 24, 2020 /PRNewswire/ --         

  • Gross winnings revenue amounted to GBP 235.1 (226.2) million for the second quarter of 2020, an increase of 4 per cent, and GBP 484.8 (450.6) million for the first half of 2020.            
  • Underlying EBITDA for the second quarter of 2020 was GBP 51.7 (30.9) million, and GBP 94.2 (62.0) million for the first half of 2020.            
  • Profit before tax for the second quarter of 2020 amounted to GBP 31.3 (14.7) million, and GBP 33.7 (32.4) million for the first half of 2020.            
  • Profit after tax for the second quarter of 2020 amounted to GBP 26.8 (12.5) million, and GBP 27.8 (27.6) million for the first half of 2020.            
  • The profit before tax was impacted by foreign currency gain on operating items of net GBP 1.8 (loss of 2.4) million and foreign currency losses of GBP 5.1 million (Nil) on retranslation of borrowings of which GBP 4.5 million are unrealised translation losses.            
  • Free cash flow for the second quarter of 2020 amounted to GBP 74.3 (12.4) million. GBP 32.8 million of borrowings was repaid in the quarter and the net debt position has improved since the first quarter to GBP 61.0 million as at 30 June 2020.            
  • Earnings per share for the second quarter of 2020 were GBP 0.118 (0.055) and GBP 0.123 (0.122) for the first half of 2020.            
  • Number of active customers during the second quarter was 1,313,399 (1,478,437).

"A resilient and adaptable business"

"Gross winnings revenue for the second quarter amounted to GBP 235.1 million, achieving growth of 4 per cent despite the significant disruption to the normal sports calendar. The growth was mainly driven by positive performances across a number of markets as a result of strong focus on product differentiation."

"The decisive actions taken by Kindred to mitigate the impact of COVID-19 disruption contributed to an increase of 70 per cent in EBITDA during the quarter. The main savings were achieved in marketing, which is logical as most marketing is linked to sports events. Over the coming quarters, we plan to increase our marketing towards normal levels in line with our long-term strategy, but we will manage this process in a cautious way. Betting duties also fell compared to previous quarters, because of the significant impact of sports in the French market, which is subject to the highest tax rates."

"Our teams around the world have worked incredibly well in the new environment, both in dealing with the challenges from the pandemic and in driving efficiency as our cost reduction programme continues. Kindred remains conscious of the risk of further disruption both to sports and the wider economy, so we will continue to manage the overall cost base carefully."

"Our US business continues to develop very strongly, despite the loss of offline revenues and the disruption to sports. Gross winnings revenue amounted to GBP 6.0 million for the second quarter, an increase of 131 per cent from the first quarter.  After less than a year of operations, the US already accounted for more than 2.5 per cent of the Group's gross winnings revenue and this share is expected to accelerate in coming quarters, especially as further states go live."

"In the period up to 19 July 2020, with approximately 20 per cent higher sportsbook margins than in 2019, average Gross winnings revenue in GBP was 40 per cent higher (41 per cent in constant currency) and actives 21 per cent higher than for the same period last year. In the US, the average daily Gross winnings revenue for the period 1 to 19 July 2020 increased by 32 per cent compared to the daily average for the second quarter 2020", says Henrik Tjärnström, CEO of Kindred Group.   

Today, Friday 24 July 2020, Kindred Group's CEO Henrik Tjärnström will host a web cast in English at 09.00 CEST on www.kindredgroup.com/Q22020. For those who would like to participate in the telephone conference in connection with the presentation, the telephone numbers are UK:  +44 33 3300 9264 or in the USA: +1-833-526-8380

The Kindred Group operates in locally-regulated markets through its gambling licences in the UK, Sweden, France, Belgium, Denmark, Germany (Schleswig-Holstein), Italy, Australia, Ireland, Romania, Estonia, Pennsylvania, New Jersey and Indiana, as well as other markets internationally through its 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 Regulation of Market Abuse, MAR.

For further information please contact:

Inga Lundberg, Investor Relations                                              +44-788-799-6116

Henrik Tjärnström, CEO                                                              +46-723-878-059

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/kindred-group/r/kindred-group-plc---interim-report-january---june-2020--unaudited-,c3158959

The following files are available for download:

https://mb.cision.com/Main/824/3158959/1283080.pdf

Release

Modal title

Also from this source

Kindred's Journey Towards Zero shows encouraging decline in high-risk revenue

In the final quarter of 2024, Kindred's Gross winnings revenue from high-risk players reached 2.7 per cent, an encouraging decrease from the previous ...

Unibet Becomes Official Sponsor of the 2025 IIHF Ice Hockey World Championship in Sweden and Denmark

Kindred Group plc (Kindred) and its flagship brand Unibet are proud to announce that Unibet is an Official Sponsor of the 2025 IIHF Ice Hockey World...

More Releases From This Source

Explore

Gambling & Casinos

Gambling & Casinos

Travel

Travel

Entertainment

Entertainment

Internet Technology

Internet Technology

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.