“We need to be smarter and faster in the Nordics,” says Mr Green boss
CEO Per Norman tells EGR Intel he’s “not pleased” with the operator’s recent Nordic revenue figures, while M&A remains on its radar
Mr Green is eyeing improvements to its Nordics-facing business following a stuttering performance in the region, its CEO Per Norman has said.
Speaking with EGR Intel, Norman said he was “not pleased” with the operator’s dip in Nordic revenues in Q4, despite focusing marketing spend on Southern, Western, Central and Eastern Europe.
Mr Green’s revenues from the Nordics dipped 1.6% to SEK88.9m (£8m) during Q4. It was a similar story in Q3 after revenues slipped 6.9% to SEK86.9m (7.8m) compared to the same period last year.
And Norman said the firm must be “smarter and faster” than its competitors to boost the operator’s performance in its home region.
“We see that the Nordics is highly competitive, the acquisition and marketing costs is higher compared to other markets and therefore when we review our spend and where we are going to grow, that’s a factor that is important.
“It is clear that to drive growth in the Nordics you need to put some money in there and be very dedicated to it.
“I think we have made a lot of improvements in the last six months that will pay off in the Nordics going forward, but we have not seen that yet.”
Norman added the acquisition of Danish operator Dansk Underholdning for €9m made “perfect sense” as part of its strategy to enter locally regulated markets and said the firm would remain active in M&A.
“We will have our eyes open whenever we look into new markets, or an existing market where something could fit our strategy, we will have M&A on our radar.”