02/09/2012 : ALL GOOD FOR ONLINE GAMBLING SOFTWARE DEVELOPER
NetEnt's Q4 and FY numbers are all pointing in the right direction
The Swedish internet gambling software developer Net Entertainment posted another impressive set of Q4 and Full Year results Thursday, showcasing a year of new initiatives aimed at sustaining the company's remarkable growth.
Q4 2011 highlights included:
– Revenues increased by 21.6 percent to SEK 121.1 (Q4 2010 – SEK 99.6) million
– Operating profit amounted to SEK 42.2 (33.8) million
– Operating margin was 34.9 (33.9) percent
– Profit after tax amounted to SEK 36.6 (29.0) million
– Two new license agreements were signed, and two new customers’ online casinos were launched
– The number of game transactions amounted to 2.6 billion, an increase of 19.6 percent compared to the previous quarter and 48.9 percent compared to the same period in 2010.
– The company has benefitted from Denmark's market liberalisation, providing casinos for that sector to Betsson, Unibet, Bet24, and Sportingbet (including Scandicbookmaker and Danbook
– In December the company launched its first mobile games
Full Year high points included:
– Revenues up by 16.1 percent to SEK 427.6 (FY 2010 – SEK 368.3) million
– Operating profit amounted to SEK 129.7 (136.4) million
– Operating margin was 30.3 (37.0) percent, 31.9 percent excluding costs amounting to SEK 6.7 million related to former senior executives
– Profit after tax amounted to SEK 115.6 (120.5) million
– Seven new license agreements were signed, including G.Matica and Sky Betting & Gaming. Eleven new customers' casinos were launched
– Proposed transfer to shareholders is SEK 2.00 (2.00) per share
– NetEnt plans to launch its own Live Casino/Live Dealer product with a planned release to the market around year-end 2012.
– The company will have a new chief executive officer come March 1st following the appointment of Per Eriksson, who is currently CEO and president of Dustin Group AB, and prior to that had a long career within Dell, where he left as head of Dell EMC (Europe, Middle East and Africa).
– Intralot Interactive was launched in Italy where Net Entertainment is now live with five out of eight operators.
Acting Net Entertainment chief executive Bjorn Krantz said that 2011 was a year of new markets and product initiatives to secure continued solid growth for Net Entertainment.
During 2011 NetEnt's market share in Europe increased to 22.4 percent compared to 19.3 percent in year 2010, he claimed.
"We will continue to invest in our business and organization," Krantz said.. "We are taking another step towards becoming a full scale provider within online casino and it is very exciting to be able to offer our partners a broader product portfolio which strengthens both business and customer value. I am convinced that Net Entertainment is well positioned for 2012 and I look forward to another exciting year."