KNDGF - Kindred Group sees 24% surge in topline for Q4

Online gambling business operator, Kindred Group ( OTC:KNDGF ) has delivered solid growth Y/Y with total group revenue of ~GBP 305M (compares to Q4 2021: GBP 244.9M), up 24% Y/Y.

The quarter saw 1.83M active customers for the Group supported by marketing investments in the run-up and during the World Cup, which is the second highest recorded number and an increase of 25% compared to last year same quarter.

The sports betting margin after free bets was 8.9%, which was below the long-term average

Q4 EBITDA is estimated at ~GBP 39M (vs Q4 2021 GBP 27.6M), negatively impacted by the weaker revenue than expected, a historically low gross profit margin and considerable marketing investments.

The company estimates underlying EBITDA for the FY 2023 to reach at least GBP 200M assuming long-term average sportsbetting margin.

For further details see: