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 Interim report January–March 2020: Netent improves its revenues but not profits during the first quarter of the year

 
Casino content developer NetEnt has released its financial report for January–March 2020. NetEnt reported a 23.9% year-on-year increase in revenue during the 1sr quarter of the year. Revenue for the three months through to 31 March 2020 totalled SEK518.0m, up from SEK418m in the corresponding period last year.
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  • Revenues for the first quarter amounted to 518 (418) million SEK
  • EBITDA was 229 (196) SEKm, corresponding to a margin of 44.2 (47.0)%, which includes restructuring costs of 26 SEKm.
  • Adjusted for these costs, EBITDA was 254 (196) SEKm, corresponding to a margin of 49.1 (47.0)%
  • EBIT was 119 (126) SEKm, corresponding to a margin of 23.0 (30.2)%. Adjusted for restructuring costs, EBIT was 145 (126) SEKm, corresponding to a margin of 27.9 (30.2)%
  • Earnings after tax amounted to 82 (120) SEKm. Earnings per share of SEK 0.34 (0.50) before and after dilution. In addition to aforementioned restructuring costs, earnings were affected by non-recurring financial costs of 40 SEKm, related to changes in net-present-value calculation of the earn-out liability for Red Tiger

In regards important events in the first quarter, we highlight the 3 events below:
  • Full integration with Red Tiger initiated in order to realize further synergies. Directed equity of issue 6 327 175 B-shares proposed to partly offset earn-out consideration for Red Tiger, resulting in dilution of approximately 2.6 percent.
  • Several new initiatives presented within Live Casino, e.g. new tables in Malta studio and upgraded user interface for mobile gaming
  • 12 new slot games released.
 


Therese Hillman, Group CEO said “To further strengthen competitiveness and increase efficiency, we initiated a full integration with Red Tiger during the quarter. Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues. Combined with a strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt, this puts us in a good position to continue delivering profitable growth in 2020.”




En el gráfico anterior vemos la distribución por región de los ingresos de la compañía, destacando los mercados regulados europeos como gran mercado para el proveedor y desarrollador. También constatamos cómo la producción de slots online genera casi el 90% de estos ingresos mientras que los juegos de mesa (blackjack y ruleta) únicamente un 10%.
18+ | Juegoseguro.es – Jugarbien.es
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