First quarter of 2018 for Cherry ranks better than anticipated
Cherry Revenues and EBITDA surpass all expectations
Cherry AB has completed a preliminary assessment of the Group’s development during the first quarter of 2018. Revenues, and also EBITDA, manifested strengthened expansion.
They are anticipated to reach approximately MSEK 675 and MSEK 188, respectively, to be compared with MSEK 541 and MSEK 83, in the corresponding period of the preceding year. The EBITDA margin for the quarter is expected to hit 28 percent (15).
The reason for the development being better than expected is related to the continuous improvement within the business area of Online Gaming.
The financial data is preliminary. Cherry will present its interim report for January–March 2018 on 3 May 2018.
During the quarter, numerous brands in the business area experienced favourable market growth, which in combination with the ongoing focus on a more efficient organisation of ComeOn operations, resulted in a better development than anticipated by the Cherry Management.
Furthermore, the other business areas, mainly Game Development and Online Marketing, reported a good development, comfortably in line with the expectation of the first quarter of 2018.