Kambi Group withdraws its 2027 financial targets

Kambi Group’s board of directors has decided to withdraw its 2027 financial targets.

Press release.- 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 – €500m) and EBIT in excess of €150m.

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 company said the board will now focus its attention on providing Becher with its full support in executing the company’s long-term strategy and extending Kambi’s lead as the world’s leading sports betting provider.

The company finally stated: “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.”