Swedish gaming group Cherry AB can mark 2018 as a great year. At least for now, as per its Q3 trading update, it continues to recover and grow. In short, the group delivered double-digit increases on most of its main KPIs. And the best part of the results is, that organic growth drove the figures.
In fact, the Stockholm-listed online company reported a group revenue growth of 58%. Similarly, year-to-date revenues went up by 42%. The group achieved these impressive figures thanks to massive funding of development. Cherry AB keeps a diverse commercial offering. Its B2B content developed by Yggdrasil ranks among the best performing in Europe.
“Investments in marketing and operations strengthen our development both short and long-term. Cherry’s strategy is to maintain proximity to all parts of the gaming market and end customers. And this allows us to act quickly. And to invest where we see the best return” commented Cherry AB CEO, Gunnar Lind.
As mentioned, the premium content produced by its studio makes up for a large part of the group’s results. Yggdrasil’s games are, indeed, leading the market in terms of quality. It results in recent agreements with several major industry players. They include 888 Holdings and Tipsport, and national operators Svenska Spel.
Besides, the group’s B2B division also supported the overall growth in recent months. Just a year ago, ComeOn adopted a new business strategy. As the latest result show, the changes had a positive effect. They see Cherry AB’s profitability and EBITDA increased by 130%.
“The company is now able to establish stronger positions in existing and new markets. As well as with new brands such as Blitzino and PZBuk,” Lind added. So, we can only speculate on the final report for the year 2018. But, we have to say, it looks promising!