Announcing its financial results for Q4 2017, in addition to its full year figures, Yggdrasil Gaming has reported a strong showing across the board.
Revenues for the period have shown an increase of 61% to SEK 51.2m (€5.1m), up from SEK 31.8m (€3.2m) on the same period in 2016, with mobile gaming making up a total of 59% of the firm’s gross win.
A 95% rise in profits for the year to SEK 169.1m (€17m), rising from 2016s SEK 86.9m, with Yggdrasil also pointing to 40 licence agreements signed and the release of 11 new network games, plus one operator exclusive game in its FY highlights.
Its strong revenue performance also saw EBITDA “improved significantly,” amounting to MSEK 71.5m (€7.2m), up from 2016 figures of MSEK 40.1m (€4m), with Q4 figures also yielding a 42% positive margin, equating to a figure of SEK 21.5m (€2.1m).
Reporting it’s highlights for the year, Yggdrasil highlighted plans to enter into a new vertical via its bingo offering, in addition to a revamped technical platform iSENSE2.0+ and new business venture Yggdrasil Dragons.
A number of significant licence agreement were also reached during the period, including Pinnacle, Tabcorp, Rank Group and Snaitech, as were entries into new markets.
Fredrik Elmqvist, CEO of Yggdrasil, commented: “Looking back at 2017, it has been yet another landmark year for Yggdrasil. Revenue for the year grew to MSEK 169.1, while full year operating profit was up 35 percent to MSEK 58.8. These fantastic results were only possible because of the team we have assembled, and the support of our customers.
“The fourth quarter was also a busy one from the perspective of new customers, whether that be signing operators or integrating and pushing existing ones live. During Q4 we saw an increase in customers in Italy, and the signing of new and existing customers for another new regulated market for Yggdrasil, Denmark. Our first customers went live in Denmark in February, and we will do a full launch in the country in Q2.
“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.”