Net Ent Has Solid Financials That Manage to Miss Mark

This story was published more than 2 years ago.

Swedish gaming group Net Ent has released their full year 2017 financial results, revealing an increase in numbers that missed industry analyst expectations.

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

  • Revenues of SEK 1.63 billion, up 11.7% from the same period last year
  • Operating profits up 9.5% to SEK 587 million
  • Post tax profits up 9.5% as well to SEK 552 million
  • Earnings per share of SEK 2.30

Net Ent's CEO Per Eriksson spoke about the deal, revealing: "2017 was another eventful year with profitable growth for NetEnt, even though we had expected a much better outcome.

"Our strategy to grow on regulated markets remains in place and during 2017 we terminated deliveries of games to operators in Australia, Poland and Czechia, which affected revenues negatively by three percentage points in the fourth quarter.

"The global market for online gaming continues to grow, supported by digitalisation and the mobile development; we are challenging the traditional gaming industry with our digital business model and see that the migration to online from offline continues unabated.

"For 2018, we see conditions for profitable growth, supported by a large pipeline of new games, growing revenues from regulated markets, the mobile channel and new customers to be launched.

"I look forward to a new year with more game releases and product news than ever for NetEnt."

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.
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zaLambino
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17 February 2018 - 1:06pm
#1

Thar's a very good financial for year for the company but to be honest I expected to show less positive results on the basis that most of the new slots that they released were crap , Play n GO I released way better games , And with Australia now slowly leaving the market I think they very lucky to show such positive figures personally , its going to be interesting to see what 2018 holds in store for them

sharpe

bgsharpe
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24 February 2018 - 2:48pm
#2

Yeah I'm completely agree with Lambino, expectations are one thing but NetEnt just have to make sure their new releases would be good enough to match the quality of some of the competition or soon they won't one of the market leaders like they've been for years.

krcoolsongss
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25 February 2018 - 6:37pm
#3

Wow, I have seen NetEnt financials, and it never stagnated or dropped. And, it appears to keep growing in the feature, considering the quality of their new slots. All of them are quite good even though the winnings is expected to be smaller than the old slots.

Good luck.