Kindred Group Reports Strongest Quarter Ever in Unaudited Q4 2020 Trading Update

Reading Time: < 1 minute


Kindred Group has reported its strongest quarter ever with Gross winnings revenue at an all-time high of approximately GBP 365 million (Q4 2019: GBP 236.2 million), representing annual growth of 55%.

This has been achieved through continued strong activity across its markets and products, and record active customer numbers of 1.78 million, an increase of 11% compared to the same quarter in 2019.

Gross winnings revenue growth was also supported by a slightly higher than normal sports betting margin, which was approximately 10% (after free bets) for the quarter, compared to the long-term average margin of around 8.5%.

Underlying EBITDA for the fourth quarter of 2020 is estimated to be approximately GBP 115 million (Q4 2019: GBP 30.7 million) which is significantly higher than the current consensus. The main contributing factors for this increase are the strong revenue growth, combined with Kindred’s continued focus on operational efficiency and costs.

The level of marketing investment has gradually increased during the second half of the year and during the fourth quarter, the total marketing spend was around 13% higher than in Q4 2019. Although marketing spends increased between the third and fourth quarters of 2020, the significant increase in revenue and improved marketing efficiencies have meant that marketing spend was approximately 21% of Gross winnings revenue for the quarter.

Get involved!

Get Connected!
Connect with like-minded people, start groups, share files and documents, create group video meetings, attend conferences, and more.


No comments yet