Net Entertainment announce bumper profit for 2017
President and CEO of NetEnt, Per Eriksson, revealed his company made a profit after tax of over USD $65 million for the entire 2017, recording an increase of 9.5% over the preceding year.
In a presentation of earnings report for both Q4 and the full 2017, Eriksson disclosed last year was an eventful year with lots of significant progress.
During a live webcast, Eriksson noted NetEnt generated a total revenue of almost $200 million and an operating profit of over $72 million for 2017.
The total revenue recorded an increment of 11.7% and the operating profit witnessed a 9.5% increase, while the company operated on a margin of 36.1%. For the fourth quarter of 2017 however, the company generated a total revenue increase by 4.7% as against that recorded for the same period in the year before.
NetEnt CEO Eriksson tells of company achievements For 2017
NetEnt CEO Eriksson disclosed that the company would have earned higher revenues for Q4 of 2017, but for the termination of games sales to Australia, Poland and Czechia.
This development necessitated a 3 per cent drop in revenues for the period, which equally resulted in a lower operating margin compared to the previous year. However, he noted that his company made unprecedented strides into regulated markets during this period with precision strategies.
In highlighting NetEnt’s achievements for 2017, Eriksson recounted that his company launched 35 new casinos and signed 37 new customer agreements. This feat included the mobile launch of Live Casino Black Jack; and the new releases of games such as Planet of the ApesTM, Finn and Swirly SpinTM. According to him, 54 per cent of total revenue for Q4 was generated from mobile games. The company’s success has seem them move to larger offices in Malta.
CEO Eriksson Reveals New Company Objectives For 2018
In projecting for 2018, Eriksson made it clear his company will be releasing a minimum of 20 new games as against the 14 released in 2017.
The scheduled release will include three branded games:
- Jumanji
- Vikings
- Narcos
The third was unveiled at ICE annual gaming exhibition recently in London and will debut first quarter of 2019. This game is modeled after Narcos, a Netflix-series.
“We are challenging the traditional gaming industry with our digital business model and see that the migraton to online from offline continues unabated,” Eriksson said.
“I look forward to a new year with more game releases and product news than ever for NetEnt.”
But that is not all. The company is also enlarging its platform for gender equality and diversity.
“An important area within sustainability is diversity and gender equality,” Eriksson said.
“We see that diversity and gender equality are important factors to drive innovation and strengthen the culture at NetEnt.
“For the third year in a row, NetEnt was among the finalists when the Allbright foundation rated all companies listed on the Stockholm Stock Exchange based on gender equality.”