Cherry sees revenue increase of 104% in 2017
Cherry AB marked another successful year in 2017, with group revenue hitting SEK 2.5bn (€243m/$300m), its annual report revealed.
Group revenue increased by 104% in 2017 with 27% of that from organic growth.
Earnings before interest, tax, deprecation and amortisation (EBITDA) amounted to SEK 429m, an increase of 146%, compared with the full-year 2016.
Cherry has put this growth down to continued improvement within its online gaming business area, with several brands having experienced expansion in the first quarter.
Online gaming accounted for 80% of the Group’s revenue in 2017 and 65% of EBITDA.
The company also cited both growth of existing customers, launches of new games and the inflow of new customers as well as acquisitions of companies.
More efficient organisation of its ComeOn operations, its largest acquisition to date, has also been pegged as a key factor behind its success in the quarter, as well as game development and online marketing.
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