What started as a Unibet in 1997 and continue developing through the years, today became Kindred Group. Kindred is a group of brands formed by enthusiastic, which is one of Europe’s constant growing online gambling companies with more than 1,400 employees in 13 markets.
Kindred Group Announcing its Financial Results for the Fourth Quarter of 2017
Online gaming company Kindred group have announced its financial results for the fourth quarter of 2017, they have publicly declared a double-digit increase in all of its key points.
The Company announced another high in its gross winnings revenue who reaches the number of 55% compared with the last year from a sum of £152.8 million in the fourth quarter of 2016 to a huge difference of £238 million in the fourth quarter of 2017.
Earnings Before Interest, Taxes, Depreciation, and Amortization – EBITDA
Profits after tax are going parallel with the high in its gross winnings revenue, they are higher than the last Q4 2016 figure of £29.4m, and now they for Q4 2017 amounted to £50.8m, however EBITDA in the fourth quarter of 2017 going to £74.5 million rising of almost 90% year-on-year basis from the £39.3 million in the quarter of 2017.
The Contribution is Made by its 32Red Online Casino
The progress was made by the 32Red online casino, which offers huge selections of casino games, bonuses with every sign-up, regular free spin offers, frequent special offers etc. The 32Red online casino has made overall gross winnings revenue through the fourth quarter of 2017 sum of £18.8 million. They increase the number of new players in comparison with last year, by 15%. In figures that will be like 1,150,027 in the fourth quarter of 2016 to a figure of 1,329,124 the fourth quarter of 2017, a huge difference of 179,097 players.
The profits for a full year in 2017 after-tax amount are £117.4 million, although the gross winnings revenue made in 2017 were £751.4 million. The EBITDA for the full year 2017 was £185 million.
In a Statement Regarding the Results the CEO of Kindred Group, Henrik Tjärnström Says
The CEO of Kindred Group, Henrik Tjärnström in a statement regarding the results they achieved, says: “Strong growth across our major markets and an exceptional sportsbook margin approximately 50 percent above the long-term average, have resulted in record revenue and profitability for Kindred Group in the fourth quarter of 2017. Our investments in marketing and product development have also resulted in an all-time high in EBITDA and number of active customers.
“The strong performance of the Group resulted in an increase in free cash flow of 78 percent for the full year 2017. The Board has reviewed the cash requirements for 2018 and is proposing a cash dividend of GBP 0.551, which represents a growth of 78 percent compared to the previous year.”