0
$ £

Net Entertainment Releases Fourth Quarter, Year End Results

Swedish online gambling giant Net Entertainment released its fourth quarter 2011 and full year financial results today, with an emphasis being placed on the company's continued strong growth.

Key financial indicators for the fourth quarter of 2011 were:

  • Revenues increased by 21.6% to SEK 121.1 million up from SEK 99.6 million during the same period last year

  • Operating profit amounted to SEK 42.2 million up from 33.8 million during the same period last year

  • Operating margin was 34.9% compared to 33.9% during the same period last year

  • Profit after tax amounted to SEK 36.6 million, up from 29.0 million during the same period last year

  • 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% compared to the previous quarter and 48.9% compared to the same period in 2010.

  • The company has benefitted from Denmark's market liberalization, providing casinos for that sector to Betsson, Unibet, Bet24, and Sportingbet (including Scandicbookmaker and Danbook

  • In December Net Entertainment released its first mobile based games.

Full year key financial indicators were:

  • Revenues up by 16.1% to SEK 427.6 million, up from SEK368.3 million for the 2010 year

  • Operating profit amounted to SEK 129.7 million, down from 136.4 million for the 2010 year

  • Operating margin was 30.3%, down from 37.0% during 2010, 31.9% 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.

Commenting on his company's performance, Net Entertainment Acting CEO Bjorn Krantz said "We will continue to invest in our business and organization. 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."

Share this