Cherry AB Posts 2015 Financial Results

Swedish betting group Cherry AB has released their 2015 financial results, noting a high amount of turnover and earnings when compared to the same period in 2014.

Key financial indicators for the year ending December 31st, 2015 were:

  • Group turnover of SEK 528.7 million ($62.2 million), which is up 56% from 2014.

  • EBITDA of SEK 35.9 million, which is much better than the loss of SEK 17.9 million that was posted last year.

  • Cherry's Yggdrasil subsidiary brought in EBITDA of SEK 5.2 million, which is up 357% from last year.

  • Online operations now make up 59% of Cherry's overall business.

Commenting on his company's performance Cherry CEO Fredrik Burvall said, "The fourth quarter has provided continued strong growth and a substantial increase in profits, with group revenue up a full 72% for the period. Cherry's online business continues to grow extremely quickly and now accounts for 74% of the group's sales and is expected to continue grow faster than the market. Online gaming is well positioned today, with a platform that makes it possible to quickly and efficiently add new products and skins."

"In addition to the licences the group already holds, Cherry will continue to look for local licences in markets where we can expect strong growth, and has therefore initiated an application process to obtain an operator's licence in the UK."

Related casinos

Cherry Casino90Curaçao, Malta, Sweden90

About the author