Kindred slides to the bottom of STOXX after 77% fall in Q1 EBITDA

Kindred

28/04/2022 08:25

** Shares in Kindred  KINDsdb.ST  fall 7.4%, pares losses
after falling as much as 11.6%, after the Stockholm-listed
online gambling operator reported its first-quarter earnings
sharply declining
    ** Q1 underlying EBITDA decreased by 77% to GBP 24.5 million
($30.69 million)  urn:newsml:reuters.com:*:nFWN2WP2FC
    ** "We continue to notice an impact from post-COVID-19
normalisation across markets, as well as the decision to cease
activity in the Dutch market in Q3 2021," CEO Henrik Tjärnström
said in a statement
    ** In September, the company temporarily halted services for
its Dutch customers due to the country's policy changes
 urn:newsml:reuters.com:*:nFWN2QW0WB
    ** Earlier this month, Kindred slumped 13% after reporting
preliminary fall in EBITDA, citing suspended operations in the
Netherlands  urn:newsml:reuters.com:*:nL5N2W63Q4
    ** The stock is the bottom performer on STOXX 600 index
 .STOXX   and down 25% YTD


($1 = 0.7982 pounds)

 (Reporting by Jagoda Darlak)
 ((jagoda.darlak@tr.com))