Netent, one of the most important developers of games and slots in the world has presented its financial results for the third quarter and has also taken the opportunity to show its excellent evolution in the first nine months of the year. The markets of the United Kingdom, Spain and Denmark have been an important part of this very positive performance.
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The company led by Per Eriksson, has presented results for the third quarter of the year (July-August-September) that we summarize in the following sections:
– The third quarter was another solid quarter in terms of growth for NetEnt. Revenues increased by 12 percent and the operating margin were significantly better than in the same quarter last year. Mobile games and Netent online slots games regulated markets such as the United Kingdom, Italy and Spain contributed the most to the company’s growth.
– Third Quarter 2017 data :
– Third quarter revenues increased by 12.3% to SEK 401 million (SEK)
– The operating profit amounted to 156 million SEK, which shows an increase of 20.5%
– The operating margin increased 36.2%
– The profit after taxes amounted to 142 million SEK, an increase of 19.4% compared to 119 million in the same period of 2016.
– Earnings per share went from 0.50 SRK to 0.59 SEK
– In this three-month period (July, August and September 2017) 8 new agreements were signed with customers and launched 10 casinos of new clients so the company continues to expand its strategic partners and customer base, mainly in regulated markets.
– Revenue for the first nine months increased by 14.3% to SEK 1,206 million (SEK)
– Operating profit amounted to 437 million (SEK), an increase of 15.0% compared to the same period in 2016.
– Profit after tax amounted to 400 million SEK, an increase of 12.9% over the same period of 2016.
– 29 new agreements with clients were signed and 24 new client casinos were launched.
For the last quarter of the year very important events are expected for the company, for example:
– Retail agreement signed with Eurogames in Italy for land
– based gaming machines – Substantial increase in the live prize policy launched for Live Casino
– Launch of a new gaming functionality as part of NetEnt Engage ™