Online gaming content developer Net Entertainment (NetEnt) has cited underlying growth among its customers as the main reason behind record revenue growth during the 12 months through to December 31, 2014.
The company posted full-year revenue of SEK851.7 million (€89.8 million/$101.8 million), which represents a year-on-year increase of 35% on the SEK630.7 million achieved in the previous year.
Operating profit was up 45.6% year-on-year to SEK261.7 million, while operating margin came in at 30.7%, up from 28.5% in the previous 12 months.
Elsewhere, profit after tax amounted to SEK243.2 million, up from SEK167.1 million in 2013, while NetEnt’s proposed transfers to shareholders is SEK5.00, compared to just SEK3.00 in the previous year.
NetEnt’s full-year results were also boosted by a positive performance by the firm in the fourth quarter, during which revenue totalled SEK241.1 million, up 33.8% on Q4 of 2013.
Operating profit for the quarter jumped 44.5% year-on-year to SEK80.3 million while profit after tax in the period amounted to SEK77.1 million.
Per Eriksson, chief executive officer of NetEnt, said: “2014 was another fantastic year for NetEnt with revenues, operating profit, cash flow and proposed transfer to shareholders all reaching new record levels.
“Revenue growth for the full year, even adjusted for currency changes, is the highest ever for the company, with a continuing strong operating margin.
“New customers and favourable currency changes contributed positively, but the main driver of the increase in revenues and earnings was solid underlying growth among our customers.
“I am convinced that NetEnt ́s focus on developing world-class entertaining and thrilling games makes us well positioned to keep growing on existing and new markets.”
source : www.igamingbusiness.com