EveryMatrix looks for acquisitions as gross profit rises in Q1

| By Daniel O'Boyle
EveryMatrix chief executive Ebbe Groes said the gaming supplier will pursue acquisitions after a successful Q1 of 2022, in which gross profit rose by 14%.

Gross profit – which is defined as gross revenue minus direct costs paid to game suppliers – grew by 14% to €13.9m.

“Gross profit was driven by substantial growth around the world and the stabilisation of German revenues after the regulatory changes there,” the supplier said.

Earnings before interest, tax, depreciation and amortisation (EBITDA), however, declined by 14% to €4.8m. This, it said, was due mostly to EBITDA being particularly high in Q1 of 2021, with €4.8m being on par with the 2021 average, as well as the fact that the business increased its headcount from 553 at the end of Q1 2021 to 669 at the same time in 2022.

Groes said the business would continue to invest in order to grow further in North America, and would pursue possible acquisitions.

“We have started the year with a strong financial performance across all three business segments, driven by our well-balanced and innovative product offering and broad client base,” he said. “We saw a record number of new client wins in the quarter with 40 deals signed across all products.

“We continue to invest organically for our next level of growth, mainly in our game studios and the North American markets. On top of the organic investments, we are also looking at M&A opportunities.”

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