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NEWS 13 July 2017

NetEnt revenues up as mobile growth continues

By Tom Lewis
Industry supplier NetEnt has posted growth of 15.4% in its H1 interim report, with revenue rising to SEK 805m.

Operating profit climbed to SEK 281m, an increase of 12.2% on last year’s total of SEK 251m, while operating margin amounted to 35%.

The company’s profit after tax grew at a similar rate, rising 9.6% to SEK 258m, while the report detailed further commercial progress in H1 on the signing of 21 new customer agreements, with 14 new casinos launched by NetEnt customers over the period.

Noting that the UK and Italy were its largest markets in Q2, the supplier also saw continued growth in its mobile division, with mobile games accounting for more than half of its revenues in June.

NetEnt continued to execute its plans for expansion into new markets in the second quarter, obtaining a supplier license in British Columbia, Canada and launching its games in the Serbian regulated market.

Per Eriksson, NetEnt’s President and CEO, commented: “The quarter featured continued solid growth, higher profitability and a strong cash flow. The most important growth drivers were mobile games, Great Britain and Italy.

“During June, mobile games contributed more than half of our revenues while Britain was our largest geographic market for the quarter. For the second half of 2017, we see conditions for continued solid growth.”

RELATED TAGS: Financial
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