NetEnt revenues up 35% in 2014
Games supplier enjoys strong 12 months with host of new customer sign-ups and profit up 46%
NetEnt this morning posted a 35% increase in full-year revenues along with a 46% hike in operating profit after a year in which the games supplier rolled-out casinos to 28 new customers.
Total revenues for the year ended 31 December were SEK851.7m (£66m), up on the SEK630.7m recorded in 2013, while operating profit totalled SEK261.7m (£20m), substantially higher than the SEK179.7m posted the previous year.
NetEnt ended 2014 broadly in line with annual trends as Q4 revenues grew 34% to SEK214.1m while operating profit across the quarter rose 45% to SEK80.3m.
The operator said it signed 31 licensing agreements throughout 2014, 10 of which were completed in Q4, while a total of 28 new casinos were rolled out with new partners.
In March NetEnt signed a partnership deal with GameAccount which in December saw an increased volume of its games supplied into the regulated Italian market through the likes of Eurobet, Sisal and Snai.
Speaking to analysts this morning, CEO Per Eriksson listed Italy as one of NetEnt’s top three markets along with Sweden and Norway but added that the UK and Spain, which is expected to go live with regulated slots this spring, would be a focus for the firm in 2015.
The supplier is also due to go live in the US via New Jersey later this year and although no confirmation regarding US partners was given, the supplier recently signed deals with bwin.party and PokerStars’ parent company, the Rational Group.
“[â¦] we are preparing to enter North America and Spain during 2015 but other new markets could also be of interest, if and when the circumstances are right,” Eriksson said.
“The strong growth trend in online gaming, our growth strategy into new markets and our focus on operational efficiency makes me confident that we will maintain good growth with good profitability next year too,” he added.
NetEnt last year scooped a hat-trick of prizes at the eGaming Review B2B Awards, picking up trophies for RNG casino supplier, mobile supplier and slots provider, while the firm was also highly commended in the live casino supplier category.
NetEnt’s share price was this morning up SEK0.50 to SEK273.