NetEnt CEO forecasts further growth after H1 success

Per Eriksson, president and chief executive of NetEnt, has said that the company is on track for further growth in the second half of this year after achieving year-on-year increases across revenue and operating profit during the six months to June 30.

Revenue in the first half totalled SEK697.4 million (€73.7 million/$82.1 million), up 31.7% on the SEK529.5 million posted in the same period last year.

Operating profit rose 43.6% year-on-year to SEK250.5 million, while operating margin was also up to 35.9%.

Profit after tax jumped 46.3% to SEK235.2 million, with earnings per share after dilution increasing from SEK0.67 to SEK0.98.

The first-half results were boosted by an impressive performance by NetEnt in the second quarter of the year, during which revenue increased 29.8% year-on-year to SEK352.1 million.

Operating profit was up 32.1% to SEK122.4 million, profit after tax came in at SEK113.5 million, while earnings per share increased to SEK0.47.

“Revenues and operating profit for the second quarter amounted to SEK 352 million and SEK122 million, respectively,” Eriksson said.

“Compared to the same period last year, revenues increased by 30% and operating profit rose by 32%.

“The second quarter featured strong demand for our products and strong growth.

“The number of gaming transactions in our systems amounted to a full 8.8 billion in the second quarter, representing growth of 36% compared to last year.

“The operating margin was 34.8% in the second quarter, which was an improvement compared to the previous year.”

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