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NEWS 12 February 2019

NetEnt generates $192m in revenue during 2018

By Tim Poole

NetEnt’s full-year revenue rose 9% year-on-year to SEK 1.7bn ($192m) in 2018.

The supplier also reported EBITDA of SEK 816m, an increase of 10%, with an EBITDA margin of 46%.

Operating profit/EBIT was SEK 601m, a growth of 3%, corresponding to a margin of 34%.

Speaking exclusively to Gambling Insider in November, CEO Therese Hillman foreshadowed the trading update by saying: "Our ambition has always been to outgrow the market, which we’re not doing right now, so we’re not happy with the current revenue growth."

For Q4, NetEnt reported a similar level of growth (9%) in revenue to SEK 465m, while EBITDA rose 5% to SEK 204m – corresponding to a margin of 49%.

However, operating profit/EBIT fell by 5% to SEK 146m, with the EBIT margin also dropping from 36% to 31%.

Hillman said: "I would like to thank all our employees for their valuable contributions during 2018 and look forward to another busy year.

"I am convinced we will offer more and better games than ever, for all types of players and preferences."

RELATED TAGS: Online | Casino | Financial
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