NetEnt’s Record Growth for 2016 Detailed
The year of 2016 was another exciting year for the Swedish-based developers NetEnt, who have recorded another record-breaking year during which they reached the mark of SEK 1.45 billion – which translates to nearly $127 million.
Company’s success is in great deal owed to the commercial pipeline with NetEnt being helped by the launch of 34 new customer partnerships over the 12 months in 2016 to increase its footprint in the industry.
Swedish developers have announced that the same commercial trend will be continued in 2017, which has thus far been confirmed through the company’s partnership with the likes of Paddy Power, Gauselmann Italy and Codere Spain. NetEnt is also expected to add the host of new games to its impressive portfolio and invest additional resources in reaching new and expanding its existing markets.
NetEnt stated that it was the numbers in the fourth quarter of 2016 that make the biggest difference to the overall yearly revenue report.
Numbers to be proud of
Fourth-quarter numbers increased by 23.9% to reach SEK 400 million in revenue, with the company registering the operating profit of SEK 156 million in the same period. With the operating margin of 39%, earnings per share amounted to SEK 0.62 after dilution.
To put things into perspective with the full year 2016 reports, here are the biggest talking points:
- Full-year revenues were SEK 1.45 billion ($127 million)
- Operating profit of SEK 536 million ($59.36 million)
- Operating margin of 36.8%
- Profit after tax of SEK 504 million ($55.84 million)
- 45 new customer agreements and 34 new casino launches
In addition to a successful year in terms of numbers, NetEnt is happy to announce that their list of regulated markets has been expanded as the Swedish-based developers have made their way into Romania, Bulgaria and Portugal with new licenses and certifications.
The company also pushed the boundaries with first-ever virtual reality slot in a remarkable event which set the bar high at the beginning of 2017.