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NetEnt, a world leader in the mobile gaming segment, has released its annual report for 2017 and we can freely say the results are impressive.
The Swedish company was able to generate organic growth, strong cash flows and high returns for its shareholders with its strong market position and scalable business model.
Even though the rate of growth fell in comparison with recent years, it still paced at an excellent rate. Growth was lower in Scandinavian countries but since NetEnt grew faster in new regulated markets such as Italy and Spain, the business continued to generate strong cash flow due to increased revenue and good profitability.
In the fourth quarter, NetEnt signed license agreements with eight new customers and launched 11 online casinos. NetEnt also focuses on sustainability and gender equality which are looked on as important factors to drive innovation and strengthen the culture at the company.
In 2017, NetEnts revenues increased by 11.7% compared to estimated market growth of 10.7% in Europe. The revenue for the full year was €157.8 million.
The increase in revenue occurred mainly through growth from existing customers, the release of new games and obtaining new customers. The operating profit amounted to €57 million which is 9.5% increase. Operating margin was 36.1% while earnings per share amounted to €0.22. Profit after tax amounted by 9.5% to the sum of €53.6 million.
Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling online games powered by their cutting-edge platform and these numbers only mirror their hard work and devotion.
2017 was another eventful year with profitable growth and they will increase the company’s commercial focus and optimize their organization to ensure revenues outgrow the costs even more. NetEnt’s goal for 2018 is to grow faster than the market, drive the development of the digital casino market and distribute a minimum 60% of profit after tax.
The year 2018 will bring more game and product releases than ever and together with the launch of new casinos and expanding into newly regulated markets, contribute to the rise of total revenue.