As of Q4 2016, Yggdrasil is Clearly Moving into the Top TierPublished March 3, 2017 by Lee R
A well-balanced strategy leads to substantial annual and quarterly growth at Yggdrasil.
Yggdrasil is growing by leaps and bounds, at a pace which appears on its way to becoming the norm among iGaming’s strongest performers.
Yggdrasil called it’s Q4 2016 revenue growth of more than 200% a transition from “strength to strength.”
The Cherry AB-owned games developer said revenues were up 207% year-on-year to SEK 31.8 million (€3.4 million / $3.5 million) with an EBITDA margin of 42%.
The number of player transactions went up proportionally as well, showing a 210% year-on-year hike to 633 million, with mobile gaming now reaching 51% of total gross game win.
For the full year of 2016, Yggdrasil reported year-ending revenue increases of 332% to SEK 86.9 million along with an eye-popping EBITDA catapult of 670% to SEK 40.1 million.
CEO Fredrik Elmqvist defined his company’s strength-to-strength movement in Q4 through “excellent growth, new operator signings, new games and new industry firsts.”
Elmqvist couldn’t help lauding the Q4 figures as well calling the revenue jump “particularly pleasing” as EBIT hit a new quarterly high of SEK 9.3 million.
Secrets to Success
Distinguishing the innovation of the Yggdrasil brand is an essential part of organisational success. Citing the steady progress of collaborative partnership programme Yggdrasil White Label Studios, which now has two customers on board since being launched in Q3 2016. Elmqvist asserted his organisation’s intention to “transform the way slots are developed.”
Elmqvist said the company is looking to make an immediate impact in Italy, where Yggdrasil is set to launch by the end of Q2 2017. Yggdrasil currently holds licenses in the UK, Gibraltar, Malta and Romania.
Yggdrasil Q4 Highlights
Other key Q4 highlights for Yggdrasil include signing 10 new licence agreements, with new partners including Tain, Gaming Innovation Group, SuprNation and Lottoland; along with expansion into Sweden by announcing the establishment of a new Stockholm office.
Full year highlights for 2016 included the release of 13 new games, the acquisition of the Gibraltar and Romania licences; going live in the UK, and 20 new operator user agreements, including with Bet 365, Casumo and Bwin.
At this rate, Yggdrasil’s self-proclaimed “underdog status” will not last much longer as company growth performs at iGaming heavyweight proportions.