Cherry Financials Rise 104% in 2017

Online betting group Cherry AB has posted their full year 2017 financial results, with revenues spiking up 104% during the period.

Key financial indicators for the year ending December 31st, 2017 were:

  • Revenues of SEK 2.25 billion, up from SEK 1.1 billion last year
  • EBITDA up 146% to SEK 429 million
  • Profits of SEK 110 million, down from SEK 125 million last year
  • Earnings per share of SEK 0.53, which is down from SEK 1.28 last year

Speaking about the performance Cherry CEO Anders Holmgren noted: "Cherry's strong development continued in 2017; we have captured market shares and our companies have strengthened their positions.

"A year ago, I wrote that there remained an incredible amount to be done in the gaming industry and that what is great about Cherry is that its five diversified business areas span the entire gaming industry and that Cherry AB owns and manages highly interesting companies.

"We have already benefited from this strength and progressed some distance in our plans."

"A year later, I have the same feeling; we have much ahead of us and Cherry is the player that can most naturally benefit from all of the opportunities available.

"We will continue to focus on companies run by extremely strong and ambitious individuals with a mix of entrepreneurs and specialists with a strong spirit of innovation.

"Creativity and hard work drive the products forward, also allowing Cherry's business areas to grow faster than their respective markets."

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bgsharpe
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24 February 2018 - 2:31pm
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Wow, the growth in numbers is just enormous and I guess that's a proof for the great work by the Cherry Group, think they've got some really keen acquisitions this past year which obviously developed their business to a whole new level.