Cherry Financials Shine in First Half

This story was published more than 2 years ago.

Swedish gaming group Cherry AB has posted their 2018 first half financial results, revealing that the period was among the most profitable in the company's history.

Key financial indicators for the first half ending June 30th, 2018 were:

  • Profit up to SEK 180 million from SEK 51 million during the same period last year
  • Group revenue up 33.1% to SEK 1.43 billion
  • EBITDA up 103% to SEK 357 million
  • EBITDA margin up 25%
  • Subsidiary Yggdrasil Gaming had operating revenues up 67% to SEK 124.3 million

Second quarter revenues were:

  • Revenues up 41% to SEK 753 million
  • EBITDA up 78% to SEK 165 million
  • Operating revenues up 65% to SEK 66.7 million
  • EBITDA up 8% to SEK 16.6 million
  • EBITDA margin of 24.9%
  • 13 new licensing agreements, with player volume reaching 1.33 billion

Cherry attributed the success to a large marketing campaign, in which the company pumped up their long-standing brands as well as new acquisitions.

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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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bgsharpe
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23 August 2018 - 1:20pm
#1

Obviously one of the groups in this sector which really brings their business to a whole new level, the numbers are more than impressive and I guess owing a casino and a game developer in the same time just adds for the whole process being more complete.