Kindred Group’s performance reflects robust growth across diversified markets. The company achieved notable revenue increases, while continuing to focus on sustainable growth in licensed markets. Strategic transitions are underway as the company prepares for new opportunities under La Française des Jeux (FDJ).

  • Total revenue for Q3 2024 rose to GBP 294.5 million, a 4% increase from the previous year. This growth was driven by strong performance in key markets, showing resilience amid industry challenges.
  • Gross winnings revenue, a measure of B2C growth, increased by 3% to GBP 283.1 million. This reflects the Group’s effectiveness in retaining customer engagement and achieving growth in competitive markets.
  • Underlying EBITDA surged by 49% to GBP 63.4 million, signaling operational scalability. The EBITDA margin reached 22%, demonstrating Kindred’s ability to drive profitability through efficient operations.
  • Profit before tax decreased to GBP 12.5 million, mainly due to strategic review costs of GBP 30.9 million related to the FDJ acquisition. This impacted net profitability but aligns with Kindred’s long-term plans for sustainable growth.
  • Earnings per share were GBP 0.04, reflecting the current profit landscape as Kindred prepares for a strategic shift under FDJ. This metric underscores the company’s focus on balanced shareholder value despite market transitions.
  • Kindred’s free cash flow turned negative to GBP -4.2 million in Q3, impacted by acquisition costs and strategic spending. This short-term dip is expected to support long-term revenue and market expansion goals.
  • Active customer base grew by 9%, reaching 1.7 million, highlighting Kindred’s robust customer engagement. Increased customer numbers support the company’s revenue growth and future market penetration.
  • Year-to-date revenue for 2024 reached GBP 929.8 million, a 4% rise from last year. The steady revenue increase reflects Kindred’s commitment to expanding in licensed markets and capitalizing on growth opportunities.
  • CEO Nils Andén emphasized Kindred’s focus on locally licensed markets, where growth is sustainable. Key markets like France, the Netherlands, Romania, and Denmark showed strong performances, bolstering the company’s regional strategy.
  • With the FDJ acquisition set to complete, Kindred will exit .com markets without local regulation prospects. This transition positions Kindred to focus on sustainable markets and future innovations within a regulated framework.