Kambi Withdraws 2027 Financial Targets Due to Regulatory Delays
In January last year, Kambi set ambitious forecasts, aiming to triple its FY2022 revenue by 2027.
Kambi Group announced that it is retracting its long-term revenue and earnings targets due to slower-than-anticipated regulatory progress in certain markets.
Initial 2027 Financial Goals
In January last year, Kambi set ambitious forecasts, aiming to triple its FY2022 revenue by 2027. The targets included achieving revenues between €330m (£279.3m/$356.3m) and €500m, and an operating profit exceeding €150m.
Review and Adjustments
Earlier this year, Kambi launched a review of the assumptions underpinning these targets. The review acknowledged progress in areas under Kambi's control but also highlighted significant delays in regulatory advancements in key markets, potentially stalling new revenue streams.
As a result, Kambi will establish new targets under the guidance of its board and newly appointed CEO, Werner Becher. Becher, a veteran of Sportradar and Interwetten, will officially take over on 25 July, succeeding the long-serving Kristian Nylén.
Market Reaction
Following the announcement, Kambi's shares initially dropped 3.9% from the opening price but have since slightly recovered, currently trading 1.2% down from SEK105.80 in Stockholm this morning.
