Yggdrasil posts 2017 results

The Cherry Group’s games development subsidiary Yggdrasil has published its Q4 and FY 2017 performance numbers, showcasing growth in revenues and EBITDA.

Q4 2017 highlights include:

* Revenues up 61 percent at MSEK 51.2 (Q4 2016: 31.8);
* EBITDA for the period increased to MSEK 21.5 (13.2), yielding a margin of 42 percent;
* EBIT for the period increased to MSEK 17.5 (9.3), yielding a margin of 34 percent;
* Number of player transactions (rounds) increased by 87 percent y-o-y to 1,184 million;
* Mobile gaming now delivers 59 percent of total gross game win;
* Six new licence agreements were signed, including Pinnacle, Tabcorp, Rank Group and Snaitech;
* Plans to enter the Danish market through deals with Jackpotjoy Group, Danske Spil/Bwin.dk and LeoVegas;
* Two new games were released: Pumpkin Smash and Reptoids;
* Plans to enter a new product vertical, bingo;
* Launched Euro 500,000 Christmas Calendar campaign for operators;
* Two jackpots dropped – Euro 3.48 million for Joker Millions and Euro 1.12 million for Empire Fortune.

2017 Full Year Highlights

* Revenues up 95 percent to MSEK 169.1 (2016: 86.9);
* EBITDA up significantly at MSEK 71.5 (2016: MSEK 40.1), yielding a margin of 42 percent;
* EBIT up at MSEK 58.8 (2016: MSEK 27.4), yielding a margin of 35 percent;
* Released 11 new network games and one operator exclusive game;
* Signed 40 licence agreements;
* Plans to enter the Italian market;
* Revamped technical platform iSENSE2.0+;
* Launched a new game mechanic, Fusion Realms, with the game Jungle Books;
* Launched new business development initiative – Yggdrasil Dragons.

Notable events after the fourth quarter

* Launched new game, Ozwin’s Jackpots;
* Jackpot of Euro 1.9 million fell on Joker Millions;
* Signed two new operators, including Bet25.dk;
* Plans to enter the Spanish market through a deal with GVC;
* Plan to launch table games product;

Fredrik Elmqvist, CEO of Yggdrasil, described 2017 as a landmark year for Yggdrasil with new sign-ups, new games and products and new markets combining to deliver the highest number of gaming transactions yet for the company.

“This level of activity has required a further expansion to the team,” Elmqvist reported. “We welcomed 26 new people to the Yggdrasil family during Q4, taking our team up to 191 people.

“It has been a remarkable 12 months, but I am even more excited about the possibilities and opportunities that lay ahead in 2018. We have a world-class team, an industry-leading product set and the best customers in the business, and we will be building upon this throughout the year and beyond,” he concluded.

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