Kambi has revealed a positive start to its 2024 operations as the impact of the departure of Napoleon Games was minimal for the firm.
Providing further insight into the firm’s results during a live stream, CEO Kristian Nylén emphasised that in spite of revenue from the Napoleon deal being unaccounted for during the Q1 period, there wasn’t a significant impact felt in the firm’s performance.
According to David Kenyon, the group’s CFO, the positive performance underlines that Kambi has long term stability and can continue to grow following departure from North America.
Revenues for the first quarter were registered at €43.2m (Q12023: €44m), while cash flow excluding working capital and M&A slightly increased to €5.4m (€3.2m).
Furthermore, the firm reported EBIT operating profit for Q1 2024 remained stable at €4.4m (€4.5m) at a margin of 10.2% (10.3%). EBITA on acquired intangible assets was €5.8m (€5.8m) at a margin of 13.3% (13.1%).
Nylén further commented that ‘it is not impossible’ for financial targets until 2027 to be achieved either through organic growth or M&A.
He went on to reveal that ‘organic growth is definitely the main road for’ the supplier as it continues on a transformative path for 2024.
Nylén continued by outlining that ‘we have always been looking opportunistically at M&A. 2027 is quite far out. I wouldn’t rule it out if we find a suitable partner’.
