Yggdrasil eyes further expansion as Q1 finances rise
Industry supplier Yggdrasil Gaming has seen its revenues skyrocket for Q1, increasing by 134% to a total of SEK 33.3m.
The company posted EBITDA of SEK 13.3m, a year-on-year increase of 68%, with EBITDA margin for the period amounting to 40%.
An increase was also recorded in the number of player transactions, which climbed by 121% to 701m, while mobile gaming now accounts for 52.3% of Yggdrasil’s total gross game win.
Also among the operational highlights for the three month period was the launch of Yggdrasil Dragons, an initiative aimed at giving new entrepreneurial partners access to the company’s technical framework and licensing infrastructure.
The new game mechanic Fusion Realms was rolled out in early February, while the provider signed 10 new licence agreements in Q1, linking up with William Hill and entering Italy with Bwin.
Fredrik Elmqvist, Yggdrasil CEO, commented: “Even by the high standards we have set ourselves at Yggdrasil, 2017 has kicked off with an incredibly busy and productive first three months. Revenues continue to rise, and profitability (EBITDA) has exceeded SEK 13m.
“We began the year with organisational alterations on both the ordering and supplier side of the operation, with the intention of ensuring the correct foundations are in place to allow us to scale at a pace that matches our ambition, appetite and growth rate.”
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