Netent Revenues And Profits Up In Third Quarter

NETENT REVENUES AND PROFITS UP IN THIRD QUARTER

21st October, 2016 at 11:06:18
Source: http://www.azonlinecasinos.com

New products and new markets continue to propel online gambling software and games provider forward.

The Swedish online gambling software and games provider NetEnt has issued its quarterly and January to September interim reports, again showcasing positive numbers thanks to new products, new markets and new licensees.

The Q3-2016 highlights included:

* Revenues for the third quarter up by 27.7% year-on-year to SEK 357.4 (279.8) million;

* Operating profit up 22.9% at SEK 129.4 (105.3) million on an operating margin of 36.2 (37.6) percent;

* Profit after tax up 22.2% at SEK 119.2 (97.6) million;

* 11 new customer agreements were signed, and 8 new customers' online casinos were launched;

* Cash flow after investments was up 56% at SEK 132 million in the quarter;

* The number of gaming transactions via NetEnt systems was 8.6 billion in the quarter, a y-o-y increase of 31 percent;

* Revenues from mobile increased by 83% compared to last year and accounted for 40% of revenues in the quarter;

* NetEnt launched games with Rank Group in the UK and several clients in Romania, and rolled out its mobile live casino product for customers for the first time.

For the period January to end September 2016, NetEnt reported:

* Revenues for the first nine months up 30.3% year-on-year at SEK 1,054.8 (809.3) million;

* Operating profit up 35.8% at SEK 380.0 (279.8) million on a margin of 36.0 (34.6) percent;

* Profit after tax up 37.2% at SEK 354.5 (258.3) million;

* 32 new customer agreements were signed and 22 new customers' online casinos were launched.

Chief executive Per Eriksson reported to shareholders:

"NetEnt's growth strategy keeps delivering results

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