NetEnt posts strong growth figured for the Q3 period

release of NetEnt’s Q3 financial results has revealed solid year-on-year growth across a number of verticals.

Revenues for the third quarter, ending September 2017, increased by 12.3% to SEK401m, whilst operating profit amounted to SEK156m, an increase of 20.5%

Furthermore, earnings per share for the quarter before and after dilution came in at SEK0.59, up from SKE0.50 in Q3 of 2016.

The third quarter period saw the company sign eight new customer agreements, with ten new customers’ casinos launched.

The company stated that the UK and Italy contributed the most in terms of growth, but these markets were closely followed by Spain and Denmark.

President and CEO, Per Eriksson stated: “The third quarter was another solid quarter for NetEnt. Revenues increased by 12% and the operating margin was significantly better than in the third quarter of last year. Mobile games and regulated markets such as the UK, Italy and Spain contributed the most to our growth.

“Mobile games continued to be an important growth factor and accounted for 52% of total revenues in the quarter. Our systems managed 10.2 billion gaming transactions during the quarter, representing an increase of 18% compared to the corresponding period of last year.”

The company was also able to post results for the nine month period, with revenues increasing by 14.3% to SEK1,206m.

Operating profit amounted to SEK 437 (380) million, an increase of 15.0%, whilst operating margin was 36.3%

“The future outlook remains bright and for the remainder of 2017, we see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to launch and our expansion in North America.

“We strengthen the organisation to increase our output capacity, enter more regulated markets and integrate many new customers. With this in mind, we foresee an ongoing need to invest during the rest of 2017,” Eriksson concluded.