It was celebrations across the board for the Swedish gaming group, Yggdrasil after its full year figures and financial results for the fourth quarter of 2017 were released last week.
From increased revenues to a rise in profits, Yggdrasil showed the industry why it is now considered a force to be reckoned with, based on what its executives have dubbed “a landmark year”.
Yggdrasil reported on:
- The signing of 40 license agreements.
- The release of 11 new network games (including one exclusive game).
- An increase of 61% Q4 revenues.
- 59% of group’s gross wins made up from mobile gaming.
- A strong improvement in EBITDA.
“Looking back at 2017, it has been yet another landmark year for Yggdrasil,” said Fredrik Elmqvist. “Revenue for the year grew to MSEK 169.1, while full year operating profit was up 35 percent to MSEK 58.8. These fantastic results were only possible because of the team we have assembled, and the support of our customers.”
“The fourth quarter was also a busy one from the perspective of new customers, whether that be signing operators or integrating and pushing existing ones live. During Q4 we saw an increase in customers in Italy, and the signing of new and existing customers for another new regulated market for Yggdrasil, Denmark. Our first customers went live in Denmark in February, and we will do a full launch in the country in Q2.”