Kindred Group PLC (Delisted) (FRA:UNBA)
€ 10.97 -0.03 (-0.27%) Market Cap: 2.37 Bil Enterprise Value: 2.26 Bil PE Ratio: 32.04 PB Ratio: 3.55 GF Score: 90/100
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Q4 2019 Kindred Group PLC Trading Statement Call Transcript

Jan 14, 2020 / 07:00AM GMT
Release Date Price: €5.03 (-1.02%)
Operator

Welcome to the Kindred conference call. (Operator Instructions)

I'll now hand the floor to our host, CEO, Henrik Tjärnström. Please go ahead with your meeting.

Henrik TjÃ;rnstrÃ;m
Kindred Group plc - CEO

¤¶ -

Thank you very much. My name is Henrik Tjärnström. I'm the CEO of Kindred Group. Last night, you would have seen that we issued a trading update for the fourth quarter of 2019, and we want to elaborate a bit on that and go through some of the principal deviations from Q4 2018, which are as follows.

When we look at the Sportsbook margin, there is an additional effect in France because of the betting duties calculated on turnover. We've always been very clear and the nature of the sport betting business is such that margin can be quite volatile if you look at it on a very short period of time. But as we add more events and more days and more time, the margin tends to normalize over time. And logically, you need to look over a very long period of time to have a very stable margin. But if you look over a 12

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