Kindred Group pleased with progress
News on 13 Feb 2019
News on 13 Feb 2019
Kindred Group showcased a solid performance for the full year 2018 period and an all-time-high performance in Gross winnings revenue during the fourth quarter 2018.
Key performance indicators for the 12 month period ending December 31, 2018, include:
Gross winnings revenue amounted to GBP 907.6 million (2017: GBP 751.4 million) for the full year 2018.
Underlying EBITDA for the full year 2018 was GBP 203.7 million (2017: GBP 185.0 million)
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Profit before tax amounted to GBP 149.5 million (2017: GBP 132 million).
Profit after tax amounted to GBP 131.6 million (2017: GBP 117.4 million).
Earnings per share were GBP 0.580 (2017: GBP 0.516).
Number of active customers during the fourth quarter was 1,568,574 (2017: 1,329,124).
The Board of Directors are proposing a dividend of GBP 0.496 (2017: GBP 0.551) per share/SDR, which is approximately SEK 5.92 (SEK 6.48) per share/SDR, and amounts to a proposed distribution to shareholders of GBP 112.5 million (2017: GBP 125.6 million) which is 75 per cent of the Group’s free cash flow for 2018.
The dividend will be paid out in two equal instalments in order to facilitate a more efficient cash management.
Henrik Tjärnström, CEO of Kindred Group:
“Strong levels of activity and all-time high in active customers resulted in all-time high for Gross winnings revenue.”
“Despite the exceptional sportsbook margin in the fourth quarter of 2017 making the comparatives for this quarter very tough, we still managed to grow the business by 5 per cent.”
“Of the Group’s Gross winnings revenue, 45 per cent came from locally regulated markets. For the full year 2018, betting duties increased by 40 per cent with an EBITDA margin of 22 per cent which shows the Group’s ability to absorb betting duties through its focus on scalability and cost control.”
In a trading update for the January 1, 2019 to February, 10 2019, Kindred’s upward momentum continues with daily average Gross winnings revenue in GBP 17 per cent higher (18 per cent in constant currency) YoY.
