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Kambi Group plc withdraws its 2027 financial targets

MAR

Kambi Group plc’s Board of Directors has decided to withdraw its 2027 financial targets.

In February, Kambi commenced a review of the underlying assumptions that formed its 2027 financial targets, which were first communicated in January 2023. Kambi’s 2027 financial targets were: revenue of 2-3x FY2022 levels (i.e. approximately €330 - €500 million) and EBIT in excess of €150 million.

The Board concluded that Kambi has made progress in areas within its control, however, slower than expected progress towards regulation in certain key markets would likely delay revenue from such markets.

Earlier this week, Kambi announced the appointment of a new CEO, Werner Becher. The Board will now focus its attention on providing Becher with its full support in executing on the Company’s long-term strategy and extending Kambi’s lead as the world’s leading sports betting provider.

The Board believes that Kambi should have in place long-term financial targets. Such targets will be evaluated with the new CEO and communicated when appropriate.

For further information, please contact:

Mia Nordlander
SVP Investor Relations & Sustainability
Mia.Nordlander@kambi.com
Mobile: +44 (0) 7850 910 933
Office: +44 203 318 6279

Chris Stutzman
Investor Relations Analyst
Chris.Stutzman@kambi.com
Office: +1 302 603 5137

About Kambi

Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Our services encompass a broad offering from front end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 40-plus customers include ATG, Bally’s Corporation, Corredor Empresarial, Kindred Group, LeoVegas, LiveScore, Rush Street Interactive and Svenska Spel. Kambi employs more than 1,000 staff across offices in Malta (headquarters), Australia, Denmark, Philippines, Romania, Sweden, the UK and the United States.

Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol "KAMBI".

The Company's Certified Advisor is Redeye AB.

This information is information that Kambi Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-04 09:40 CEST.

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Kambi Group plc withdraws its 2027 financial targets

Datum 2024-07-04, kl 09:40
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