Yggdrasil posts strong third quarter

"It has been an action-packed quarter as the company continues to build upon the significant progress we have already made," said Yggdrasil CEO, Fredrik Elmqvist.

2017-11-09

Malta

Reading time 1:20 min

According to Yggdrasil’s financial statement, revenue soared by 110% year-on-year to MSEK44.1 during the third quarter.

Highlights
•                     Revenues for the period increased by 110 percent year-on-year to MSEK 44.1 (Q3 2016: 21.0)
•                     The EBITDA margin for the period amounted to 42 percent (44)
•                     EBITDA for the period increased to MSEK 18.7 (9.2)
•                     EBIT for the period increased to MSEK 15.3 (5.8)
•                     Number of player transaction (rounds) increased by 132.6 percent year-on-year to 1,019 million
•                     Mobile gaming has now grown to be 59 percent of total gross game win
•                     10 new license agreements were signed, including Betfred and SkillOnNet
•                     Three new games were released: Rainbow Ryan, Valley of the Gods and Jungle Books
•                     Four games went live in the UK and Gibraltar
•                     Yggdrasil’s largest ever jackpot of €5.2m fell on the Empire Fortune progressive jackpot slot

Notable events after the quarter
•                     Entered Danish market with Jackpotjoy Group deal
•                     Yggdrasil games went live with another operator, Gaming Realms
•                     Signed a commercial agreement with Pinnacle
•                     A €3.5m jackpot fell on Joker Millions
•                     Released new game Pumpkin Smash
•                     Three games, including Vikings Go Berzerk, released in Italy; one game went live in the UK and Gibraltar

Yggdrasil CEO, Fredrik Elmqvist, said, “As is always the case at Yggdrasil, it has been an action-packed quarter as the company continues to build upon the significant progress we have already made.

“Once again, we have delivered an all-time high result, with EBITDA for the period hitting MSEK 18.7. It is a fantastic achievement which was only made possible by the hard work of the most dedicated and talented team in gaming.

“This growth has been driven by an increase in traffic to our games. During the third quarter the number of rounds has increased by 132.6 percent versus last year, while we have also added 10 new licensees, including Betfred.

“Our focus remains on laying solid foundations to ensure we can continue our growth trajectory off the back of these extremely strong results.