Kambi Group plc’s Board of Directors has made the decision to withdraw its previously set financial targets for 2027. This decision follows a comprehensive review of the underlying assumptions that supported these targets, which were initially communicated in January 2023.
The targets included an ambitious revenue goal of 2-3 times the FY2022 levels, approximately €330 – €500 million, and an EBIT target exceeding €150 million. Despite making progress in controllable areas, the Board recognized that slower-than-expected progress toward regulation in key markets would likely delay revenue realization.
Earlier this week, Kambi announced the appointment of Werner Becher as the new CEO. The Board will now focus on supporting Becher in executing the company’s long-term strategy and maintaining its position as a leading sports betting provider.
The Board remains committed to establishing long-term financial targets and will evaluate and communicate these targets in collaboration with the new CEO at an appropriate time.
This strategic adjustment reflects Kambi’s commitment to adapting its business strategy in response to changing market conditions and regulatory environments.
