NetEnt Posts Boosted Q3 Revenue & Profits Report
Stockholm-listed industry games developer NetEnt AB has published its Q3 2016 trading period, reporting a further consecutive quarter of top-line growth on all metrics.
Closing the Q3 period ending 30th September, NetEnt recorded a corporate revenue increase of 27.7% to SEK 357.4 million, compared to SEK 279.8 million in the same period last year. Its strong revenue performance achieved operating profits of SEK 129 million (€13.3 million), and profits after tax of SEK 119 million (€12.2 million).
Detailing performance drivers, NetEnt governance pointed to the firm’s strong commercial pipeline which had seen 11 new customer agreements signed during the period – including UK gambling operator Rank Group Plc.
Updating investors on its year-to-date performance, NetEnt governance is confident to reach all corporate expectations as the company hits a yearly operating profit of SEK 380 million (€39 million).
Governance detailed that the company will continue its focus on expanding its services within regulated European markets. It also stated that it will support its strategy by “increasing the number of employees” and adding further resources to the development of its platforms.
Commenting on corporate performance, President and CEO of NetEnt, Per Eriksson, said: “NetEnt’s growth strategy keeps delivering results – we grow in new markets, with new products and with more customers. During the quarter, we launched our games in the regulated market in Romania and we rolled out our live casino product for mobile.”
“The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year. Our ambition to achieve continued strong sales growth in 2016 remains.”
NetEnt will also be showcasing at Malta’s upcoming gaming event of the year, SiGMA16. If you’re interested in joining this iGaming summit in November, click here to register.