Net Entertainment has delivered their full year 2011 results reporting growth and a strong performance as well as big plans for the near future.
Net Ent’s Key Performance Indicators are as follows:
- Revenues increased 16.1% from £34.46 Million (Full Year 2010) to £40.01 Million
- Operating Profit decreased by 4.9% to £12.13 million from £12.72 million (Full Year 2010) – this was due to costs of £626,690 which were spent on the departure of senior executives.
- Operating Margin was 30.3% (down from 37% in 2010) – this included the cost of the executive departures. Without them, operating margin was 31.9% for Full Year 2011.
- Profit after tax was down from £11.27 million to £10.82 million
- Earnings per share were down from 28.5p to 27.3p
- 7 New License Agreements were signed – this includes G.Matica and Sky Betting & Gaming
- 11 New customers launched casinos
- Number of Game Transactions grew 41.7% to 8.6 billion – the main contributor were slot games
- Group’s Cash was £6.94 million whilst it was £4.397 million for 2010
Net Entertainment invested into the development of new games and the launch of its mobile product. They also invested in technical platform adjustments to improve functionality and tackle regulated markets. More excitingly, they put money into constructing a test studio for their Live Casino product. This is to be launched after the summer. They also invested into their platinum and branded games as well as office expansions.
They plan to grow their presence in the United Kingdom – Björn Krantz, who was the acting president and CEO from August 2011 to February 2012 said of the Full Year 2011 results:
“All in all, 2011 was a fantastic year for Net Entertainment with continued strong organic growth in combination with strategic initiatives, and I am very excited about the future which holds great opportunities for the Company.”
The current president and CEO, Per Eriksson, who was appointed this month, added:
“With Net Entertainment’s focus on customer closeness, product and technology leadership the Company is well positioned for the future and it will be very exciting to take the Company to new ground together with our skilled and motivated employees”.
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