Yggdrasil report impressive full-year and quarter four results


rasil recently released its impressive quarter four and full-year results for 2016.

The company’s fourth-quarter revenues increased by 207% over the MSEK 10.4 taken in 2015 to MSEK 31.8. EBITDA for the period also increased year-on-year by to MSEK 13.2, with a margin of 42%.

Yggdrasil’s highlights of the period included: the number of player transactions increased by 210% year-on-year to 633m rounds; 10 new licence agreements were signed, including with Tain, Gaming Innovation Group, SuprNation and Lottoland; and the company’s decision to establish a new parent company with an expansion to the Stockholm office.

The company’s full-year numbers were equally promising, as revenues increased by 332% year-on-year to MSEK 86.9. EBITDA increased by 670% and amounted to MSEK 40.1, with a margin of 46%.

Furthermore, the company recorded a 418% increase in the number of player transactions for the year to 1.8b rounds.

Along with the release of 13 new games, the company also acquired licences in Gibraltar and Romania, went live in the UK, and signed 20 new operators throughout the year, including Bet 365, Casumo and Bwin.

Fredrik Elmqvist, CEO of Yggdrasil, comments: “Yggdrasil Gaming continues to go from strength to strength during yet another quarter which has seen excellent growth, new operator signings, new games and new industry firsts.”

“While we may be an underdog compared to some of the industry’s titans, we are now very much established as a force in this sector.

Our team is now more than 100 strong, with an international management group consisting of people from Sweden, the UK, Italy and Poland.”

We continue to develop a series of industry firsts because we believe that without innovation and inspiration, this industry will stagnate.”

Elmqvist adds: “I am delighted to report that we have the full confidence of our operator partners, in large part because they trust us to continue to deliver the innovations and games they require to keep their players engaged.

“We remain committed to doing things our own way. Yggdrasil White Label Studios, our strategic collaborative partnership programme which was launched in Q3 2016, continues to make progress, and we now have two customers on board. We firmly believe it will transform the way slots are developed.”

Looking ahead into 2017, Elmqvist maintains a positive outlook on the immediate future of the growing company: “Looking forward, respected industry veteran Andrew Pegler joined as chief commercial officer in Gibraltar in January, and we are already seeing encouraging progress in the jurisdiction.”

We also continue to promote from within, with the hugely impressive Krzysztof Opalka elevated to chief product officer in January.

We expect to launch in Italy in Q2, having begun the process of certifying our games. As we are later into the market compared to some of our competitors, we will need to make an immediate impact, and we are laying the groundwork to do exactly that.

It would be an understatement to say this an exciting time for Yggdrasil. The growth in recent years has been fantastic, but more importantly, we have laid the foundations to build a sustainable, world class gaming supply that will continue to push this industry forward.”

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