Kambi has retracted its 2027 financial targets, attributing the slow financial progress to delays in revenue from unnamed markets due to poor regulatory progress.
Kambi goes back on its financial targets for 2027
Initially announced in January 2023, Kambi’s goals were to achieve revenue two to three times higher than its FY2022 results, aiming for €300m to €500m ($323.9m – $539.9m). Additionally, the group had set an adjusted EBIT target of more than €150m.
With the recent appointment of Werner Becher as the new CEO, the Board has decided to re-evaluate these long-term financial goals alongside him, in light of the changed circumstances. However, the group’s immediate priority is to support Becher’s integration into his new role during this transitional period.
As Q2 2024 comes to a close, Kambi hopes to report positive financial results, following a slight year-over-year decrease in Q1 revenue by 1.8% to €43.2m.
Kambi has been active recently, helping to introduce LiveScore’s sportsbook to the UK and Irish markets at the end of May. Additionally, the group formed a similar partnership with Svenska Spel to launch a new sportsbook. These developments, along with a partnership extension with Mohegan in Pennsylvania, highlight Kambi’s strategy of global expansion and brand development as it moves into the second half of the year.
