Both EBITDA and adjusted EBITDA saw growth year-on-year, up 23.3% to £58.3m and 20% to £59.3m respectively. 

Profit before and after tax also grew, up 30.9% to £39.8m and 22.7% to £31.4m respectively. 

Active customers grew by roughly 44 million, coming to 1.67 billion customers.  

Similar to the company’s revenue, stock prices as of writing on the day of the report’s publication (24 March) have remained mostly stagnant, beginning at a trading price of SEK 123.30 ($11.35) and fluctuating between prices of SEK 123.60 and SEK 123.10.  

A previous report also found that 3.2% of Kindred’s Q1 revenue came from high-risk players.

Comments 

Despite some stagnation, Kindred Group CEO Nils Andén commented positively on the results: “Share of gross winnings revenue from locally regulated markets at a new all-time high of 84%, indicating our continued focus to sustainable revenue and our commitment to a positive contribution to society.” 

He added: “Following a solid start to the year we now have our eyes firmly set on a much sought-after summer of sports with the UEFA Euros, the Copa America and the Paris Olympics.” 

Source