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Cherry Posts Record Turnover, Net Loss in Q4 Results

Swedish betting firm Cherry AB has announced that it has reached record turnover for the quarter, yet posted a net loss due to its lottery product and change of leadership.

Key financial indicators for the fourth quarter ending December 31st, 2014 were:

  • Group revenue increase of 33 percent amounting to SEK 100.2 million (Q4/2013 SEK 75 million).

  • EBITDA amounting to SEK -6.5 million (Q4/2013: SEK-10.7 million).

  • EBIT amounted to SEK -10.6 million (Q4/2013: SEK -11.9 million), affected by a non-recurring cost of SEK -4.0 million related to change of chief executive officer.

  • The result after tax amounted to SEK -15.3 million (Q4/2013: SEK -10.6 million) equivalent to SEK -1.13 (Q4/2013: -0.80) per share after dilution.

  • Net financial items and result from associated companies was affected by an impairment of assets and shares related to Klubblo with SEK -7.7 million (0.0).

  • Online Gaming in the 4th quarter grew by 60 percent and deposits increased by 56 percent.

  • Restaurant Casino increased turnover by 7 percent and EBITDA amounted to SEK 5.0 million (Q4/2013: SEK 5.2 million.

  • Group cash amounted to SEK 54.3 million (Q4/2013: SEK 68.4 million) at the end of the period.

Full year 2014 results were:

  • Group revenue increased by 28 percent and amounted to SEK 340.0 million (FY/2013: SEK 266.3 million).

  • EBITDA amounted to SEK -17.9 million (FY/2013: SEK-24.0 million).

  • EBIT amounted to SEK -32.9 million (FY/2013: SEK -33.9 million).

  • The result after tax amounted to SEK -39.3 million (FY/2013: SEK -33.7 million) equivalent to SEK -2.97 (-2.51) per share after dilution. Affected by change of CEO and Klubblo.

  • Restaurant Casino increased turnover by 7 percent and EBITDA amounted to SEK 17.1 million (FY/2013: SEK 16.0 million).

  • Online Gaming grew by 44 percent and deposits increased by 50 percent.

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