Kambi Group plc withdraws its 2027 financial targets

In February, Kambi commenced a review of the underlying assumptions that formed its 2027 financial targets, which were first communicated in January 2023. Kambi’s 2027 financial targets were: revenue of 2-3x FY2022 levels (i.e. approximately €330 – €500 million) and EBIT in excess of €150 million.

The Board concluded that Kambi has made progress in areas within its control, however, slower than expected progress towards regulation in certain key markets would likely delay revenue from such markets.

Earlier this week, Kambi announced the appointment of a new CEO, Werner Becher. The Board will now focus its attention on providing Becher with its full support in executing on the Company’s long-term strategy and extending Kambi’s lead as the world’s leading sports betting provider.

The Board believes that Kambi should have in place long-term financial targets. Such targets will be evaluated with the new CEO and communicated when appropriate.