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Cherry's Releases Its Fourth Quarter And Full Year 2012 Fiscal Results

20 February 2013 by Dustin Jermalowicz

This story was published more than 10 years ago.

Swedish gaming giant Cherry has released its fourth quarter and full year 2012 financial results, noting high revenues and a massive increase in EBIT.

Key financial indicators for the fourth quarter ending December 30th, 2012 were:

  • Group turnover amounting to SEK 177.1 million (Q4/2011: SEK 116.5 million).

  • EBIT of SEK 7.5 million (Q4/2011: SEK 27.1 million).

  • Adjusted items re reassessment of the additional purchase price and impairment of goodwill, turnover increased by 12% to SEK 103.7 million (Q4/2011: SEK 92.7 million) and EBIT increased by 127% to SEK 7.5 million (Q4/2011: 3.3 million).

  • EBIT for Online Gaming increased by 230% to SEK 6.6 million (Q4/2011: SEK 2.0 million).

  • Restaurant Casino turnover increased by 10% and reached all-time high with SEK 37.6 million (Q4/2011: SEK 34.2 million).

  • Restaurant Casino EBIT amounted to SEK 3.5 million (Q4/2011: SEK 3.6 million) while market share increased to 58% (55) of the active gaming tables.

  • After tax amounted to SEK 7.3 million (Q4/2011: SEK 24.2 million) equivalent SEK 0.67 (2.08) per share.

Full year fiscal results were:

  • Group turnover amounted to SEK 473.1 million (2011: SEK 368.7 million).

  • EBIT amounted to SEK 36.8 million (2011: SEK 39.3 million).

  • Adjusted for non-recurring items related to the reassessment of the additional purchase price and impairment of goodwill, turnover increased by 16% to SEK 399.7 million (2011: SEK 344.9 million) and EBIT increased by 137% to SEK 36.8 million (2011: SEK 15.5 million).

  • Profit after tax amounted to SEK 31.0 million (2011: SEK 36.7 million) equivalent SEK 2.35 (3.08) per share after minority interests.

  • Restaurant Casino turnover grew by 7% and Online Gaming by 21%.

Commenting on the results Cherry CEO Email Sunvisson said: "Cherry's two remaining business areas, Online Gaming and Restaurant Casino continue to develop positively. The sale of the business area Maritime gaming meant an increased focus on the growth area; online gaming and a greatly improved liquidity".

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.