ALL GOOD FOR ONLINE GAMBLING SOFTWARE DEVELOPER
09th February, 2012 at 03:28:00
NetEnt's Q4 and FY numbers are all pointing in the right direction
The Swedish internet gambling software developer Net Entertainment posted another impressive set of Q4 and Full Year results Thursday, showcasing a year of new initiatives aimed at sustaining the company's remarkable growth.
Q4 2011 highlights included:
- Revenues increased by 21.6% to SEK 121.1 (Q4 2010 - SEK 99.6) million
- Operating profit amounted to SEK 42.2 (33.8) million
- Operating margin was 34.9 (33.9) percent
- Profit after tax amounted to SEK 36.6 (29.0) million
- Two new license agreements were signed, and two new customers' online casinos were launched
- The number of game transactions amounted to 2.6 billion, an increase of 19.6% compared to the previous quarter and 48.9% compared to the same period in 2010.
- The company has benefitted from Denmark's market liberalisation, providing casinos for that sector to Betsson, Unibet
, Bet24, and Sportingbet
(including Scandicbookmaker and Danbook
- In December the company launched its first mobile games
Full Year high points included:
- Revenues up by 16.1 % to SEK 427.6 (FY 2010 - SEK 368.3) million
- Operating profit amounted to SEK 129.7 (136.4) million
- Operating margin was 30.3 (37.0) percent, 31.9 % excluding costs amounting to SEK 6.7 million related to former senior executives
- Profit after tax amounted to SEK 115.6 (120.5) million
- Seven new license agreements were signed, including G.Matica and Sky Betting & Gaming. Eleven new customers' casinos were launched
- Proposed transfer to shareholders is SEK 2.00 (2.00) per share
- NetEnt plans to launch its own Live Casino/Live Dealer product with a planned release to the market around year-end 2012.
- The company will have a new chief executive officer come March 1st following the appointment of Per Eriksson, who is currently CEO and president of Dustin Group AB, and prior to that had a long career within Dell, where he left as head of Dell EMC (Europe, Middle East and Africa).
- Intralot Interactive was launched in Italy where Net Entertainment is now live with five out of eight operators.
Acting Net Entertainment chief executive Bjorn Krantz said that 2011 was a year of new markets and product initiatives to secure continued solid growth for Net Entertainment.
During 2011 NetEnt's market share in Europe increased to 22.4% compared to 19.3% in year 2010, he claimed.
"We will continue to invest in our business and organization," Krantz said.. "We are taking another step towards becoming a full scale provider within online casino and it is very exciting to be able to offer our partners a broader product portfolio which strengthens both business and customer value. I am convinced that Net Entertainment is well positioned for 2012 and I look forward to another exciting year."
Related News Tags: Bookmakers, Netentertainment, Sportingbet, Intralot, Mobile Gambling, Live Dealer, Net Entertainment, Sweden, Unibet