Mr Green posts year-on-year growth for Q1 2017

ting its investors, Mr Green posted a revenue increase of 26.4% to SEK276.1m in the first quarter of 2017 ending 31 March, surpassing the company’s target of annual growth.

Earnings before interest, tax, depreciation and amortisation also rose 13.4% to SEK34.2m, with a margin of 12.4%, marginally improved on the 13.8% a year prior.

The year-on-year growth is attributed to a strong increase in the number of customers and record-high customer deposits continued from the three preceding quarters.

The number of active customers increased by 22.4% during the first quarter, whilst customer deposits rose by 38.6% year-on-year.

The company said the increase in traffic and revenue was the result of improved customer communication, enhanced entertainment value and a new product offering.

Revenue in Western Europe increased by 69.4%, validating the company’s continued efforts to strengthen its market position in various parts of Europe.

Mr Green Chief Executive, Per Norman comments: “Our new Mr Green 2.0 business strategy, which will enable us to maintain our high rate of growth, will also generate economies of scale that will positively impact the EBITDA margin.

“Profitability was impacted year-on-year by higher revenue from markets with local betting duties and higher marketing costs.”

“Mr Green is a strong company with a unique brand and aims to be actively involved in the consolidation of the gaming industry.”