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."