Brief: Kindred Group Presents New Financial Targets, Updates Its Strategy

Kindred

14/09/2022 06:41

Sept 14 (Reuters) - Kindred Group PLC  KINDsdb.ST :
    * KINDRED GROUP PRESENTS NEW FINANCIAL TARGETS AND PROVIDES
DETAILED UPDATE OF ITS STRATEGY
    * NEW FINANCIAL TARGETS FOR 2025 CONSISTING OF: * REVENUE OF
ABOVE
GBP 1.6 BILLION
    * NEW FINANCIAL TARGETS FOR 2025 ALSO INCLUDE UNDERLYING
EBITDA
MARGIN OF 21 - 22 PER CENT
    * NEW FINANCIAL TARGETS: DISTRIBUTION POLICY OF ABOUT 75 -
100 PER
CENT OF FREE CASH FLOW (AFTER M&A)
    * PRIORITIES INCLUDE: GAINING FURTHER MARKET SHARE BY BEING
A
TRUSTED SOURCE OF ENTERTAINMENT IN KINDRED'S EXISTING CORE
MARKETS IN EUROPE AND AUSTRALIA, WHICH ARE EXPECTED TO GROW WITH
A CAGR OF 7 PERCENT BETWEEN 2021 AND 2026
    * PRIORITIES ALSO INCLUDE DEVELOPING A STRONG POSITION IN
NETHERLANDS
    * PRIORITIES INCLUDE: LEVERAGING STRATEGIC INVESTMENTS SUCH
AS
RELAX GAMING ACQUISITION AND DEVELOPMENT OF KINDRED SPORTSBOOK
PLATFORM, WHERE INCREASED FLEXIBILITY, SCALABILITY AND ACCESS TO
UNIQUE PRODUCT CONTENT WILL DIFFERENTIATE KINDRED FROM
COMPETITION
    * OTHER PRIORITIES: BUILDING ON SOLID MARKET FOUNDATION
ESTABLISHED IN NORTH AMERICA AS THIS REGION MATURES AND FOCUS ON
CUSTOMER EXPERIENCE INCREASES
    * NEW DIVIDEND POLICY IS TO GENERATE A STABLE ORDINARY
DIVIDEND IN
ABSOLUTE GBP DENOMINATED TERMS, PAID IN TWO EQUAL TRANCHES IN
SECOND AND Q4
    * UNDERLYING EBITDA FOR Q3 OF 2022 IS ESTIMATED TO BE IN
RANGE GBP
37 TO 42 MILLION (Q3-2021: GBP 84.8 MILLION)
    * ESTIMATES REVENUE FOR Q3 OF 2022 TO BE IN RANGE OF GBP 270
TO
280 MILLION
    * TOTAL PAY-OUT RATIO OF DIVIDENDS AND BUYBACKS SHOULD OVER
TIME
EQUAL ABOUT 75 - 100 PER CENT OF FREE CASH FLOW

Source text for Eikon:  ID:nWkr1cJJTD 
Further company coverage:  KINDsdb.ST 

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