2021 was Kindred Group’s strongest year to date, generating nearly £1
2021 was Kindred Group’s strongest twelvemonth to date, generating nearly £1.26bn ($1.7bn) inward sum revenue.
Despite a “more challenging” quaternary quarter, Kindred’s porcine profits revenue (GWR) experient an 11% full-year increase, rising to £1.25bn, piece its underlying Earnings Before Interest Taxes Depreciation and Amortization climbed past 15% to £332m.
While Q4 saw Kindred’s GWR dip 34% year-on-year, and its EBITDA 77%, a warm carrying into action from both its B2C and B2B businesses for prior quarters saw it end 2021 on a high.
CEO Henrik Tjärnström attributed Kindred’s weaker 4th quarter, especially its depression sports betting margin at the outset, to a comparatively warm net triplet months for 2020.
And due to the Netherlands’ freshly regulated iGaming market, Kindred was forced to cease services to Dutch residents.
Nevertheless, he called its Q4 revenues “solid”, with Kindred’s GGR amounting to more than £240m, while its Earnings Before Interest Taxes Depreciation and Amortization came to £27.6m.
“Closing cancelled 2021, we tin can looking at back up at a strong yr despite a somewhat more challenging fourth quarter,” commented Tjärnström.
“Exceptionally strong numbers inwards 2020 led to tough comparatives for the quarter but despite the low-toned sports betting security deposit at the showtime of the quarter, and the fact that we ceased services to Dutch residents, our quaternary quarter delivered substantial revenues.”
Looking forward, Kindred’s CEO was optimistic, expecting an ledger entry into the Netherlands in the not-too-distant future.
“Our Dutch people licence application program was submitted at the oddment of Nov as our “cooling-off” geological period ended, and the licensing cognitive operation is forward-moving according to plan,” said Tjärnström.
He also remarked on Kindred’s acquisition of Relax Gaming, adding: “Our acquisition of Relax Gaming closed on 1 October, and we are workings towards achieving the identified yearbook synergies of £6.9m, as wellspring as leveraging unique Relax content to differentiate our B2C product suite.”