The Scandinavian gaming company, Cherry AB established in 1963 has announced year-on-year rise from 17% revenues for the fourth quarter of 2017.
In the last quarter of 2016 the company reported total revenue of SEK 519 million, although, in the last financial report for the year the company, Cherry AB announced group revenue of SEK 607 million.
EBITDA for Cherry AB increased by 37% in year-to-year report
EBITDA for Cherry AB increased by 37% in comparison with the year before, in the fourth quarter of 2016 sum of SEK 103 million increasing to SEK 141 million the same period but year after. However the rising of the figures doesn’t stop here, the registered customers on their online gaming also are going high compared to last year by 37%, in figures 3,181,799 during the fourth quarter of 2016 rising to figures of 4,347,759 in the fourth quarter 2017.
The company made a changing from Aktie Torget to Nasdaq Stockholm
In the last quarter of 2017 the company start process in changing from Aktie Torget financial trading platform to the Nasdaq Stockholm, which is a global provider of trading, listing, exchange technology, clearing, information and public company services.
However, Cherry AB also working on deals to obtain an extra 12.5% stake in Highlight Games and another 95% stake in Game Lounge, where is making the majority shareholder in the business.
In 2017 with the final financial report the company in its full-year made incredible reading.
From a sum of SEK 1,102 million in a year-on-year from a report in 2016 to a SEK 2,252 million in 2017, the revenues jumped by 104%, while the company EBITDA was rapidly increased by 146%, from the SEK 174 million reported during full-year 2016 to SEK 429 million.
The AB CEO Anders Holmgren, give a statement regarding the progress the company made in 2017
The Cherry AB CEO Anders Holmgren, regarding the progress the company made in 2017 says: “A year ago, I wrote that there remained an incredible amount to be done in the gaming industry and that what is great about Cherry is that its five diversified business areas span the entire gaming industry and that Cherry AB owns and manages highly interesting companies. We have already benefited from this strength and progressed some distance in our plans.
“A year later, I have the same feeling; we have much ahead of us and Cherry is the player that can most naturally benefit from all of the opportunities available. We will continue to focus on companies run by extremely strong and ambitious individuals with a mix of entrepreneurs and specialists with a strong spirit of innovation. Creativity and hard work drive the products forward, also allowing Cherry’s business areas to grow faster than their respective markets.”