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Strong commercial pipeline delivers full-year 2016 growth for NetEnt

Boosted by a strengthened commercial pipeline, Stockholm-listed industry content and games developer NetEnt has declared full-year 2016 corporate revenues of SEK 1.45 billion (£130 million). 

Closing its full-year 2016 performance, NetEnt governance would declare a group operating profit of SEK 536 million (£48 million) up 33% on corresponding 2015’s SEK 402 million (£36 million).

Detailing 2016 highlights, NetEnt governance stated that the company had launched 34 new customer partnerships increasing its industry footprint as a leading games supplier. Furthermore, NetEnt governance cited strong growth from its mobile games inventory, which grew 43% in Q4 2016.

Looking forward to 2017, NetEnt continues its commercial expansion having secured games partnerships with Paddy Power, Gauselmann Italy and Codere Spain. The supplier stated that it would continue to add new top title games to its portfolio and expand its resources for new and existing markets.

Commenting on 2016 performance Per Eriksson, Chief Executive of NetEnt, said: “2016 was another exciting year for NetEnt with new record levels in revenues, earnings and cash flow. The fourth quarter developed well – revenues increased by 23.9% and the operating margin improved to 39%.

“The company signed 45 new customer agreements and launched its games with 34 new customers in 2016.NetEnt’s games were also launched on the regulated markets in Romania, Bulgaria and Portugal last year, following new licenses and certifications”