Yggdrasil Hails Full Year Results

Stratospheric revenue growth, says CEO

Malta-headquartered software developer Yggdrasil Gaming delivered a robust Q4 2015 and Full Year Update, saying the company is exceeding its internal growth forecasts.
Quarter 4 highlights for the period ending December 31, 2015 include:
– A 696 percent revenue increase year-on-year to SEK 10.4 million
– EBITDA amounting to SEK 4.9 million (Q4/2014: SEK -1.4 million), corresponding to an EBITDA margin of 47 percent
– Bet turnover of SEK 2.28 billion, an increase of 991 percent year-on-year.
– Mobile gaming now accounts for 41.75 percent of the total gross game win
– Number of bets increased by 792 percent year-on-year to SEK 204 million.
2015 Full Year Highlights include:
– Revenue increase of 357 percent to SEK 20.1 million
– Significant improvement in EBITDA to SEK 5.2 million (2014: SEK -4.6 million)
– 544 percent bet turnover increase to SEK 3.89 billion.
– A total of 27 signed agreements with operators.
Yggdrasil closed the door on a phenomenal year of growth during 2015 in which it sealed numerous new deals with LeoVegas, Mr Green, Unibet, Hero Gaming, BetClic, Expekt, Monte Carlo Casino, Casino Heroes, Sunmaker and Kaboo; was awarded UK Gambling Commission licensing; saw the launch of a promotional tool offer BOOST; released eight new games; awarded a Joker Millions progressive jackpot of Euro 460,000 won seven new Joker Millions deals; and launched its iSENSE 2.0 HTML5 framework.
In a trading update, the company said it had signed further deals with Vera&John, ComeOn and Betsson.
"Yggdrasil enjoyed an absolutely fantastic 2015 which has put us in a position to push on this year and firmly establish ourselves as a top-tier supplier," Fredrik Elmqvist, chief executive officer of Yggdrasil commented.
"It is tough to pick out just a handful of highlights in what was an action-packed year which saw stratospheric revenue growth, positive year-end EBITDA for the first time and several industry-first launches."

Online Casino News Courtesy of Infopowa

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