First-quarter results for content developer Yggdrasil, which reported a year-on-year increase in revenue of more than 500 per cent, shows the company is in “rude health,” said CEO Fredrik Elmqvist.
In Q1 revenues increased by 519 per cent, year on year, to SEK14.2m (€1.52m), while EBITDA was up to SEK7.9m (€0.85m) from a loss of SEK0.4m in the first quarter of last year.
Mobile gaming also saw dramatic growth with 45 per cent of gross game win coming from on-the-go gaming, compared with 17 per cent in Q1, 2015.
Commenting in a periond during which Yggdrasil went live in the UK with six operators, Elmqvist (pictured) said: “After a hugely impressive 2015, Yggdrasil has kicked off 2016 in a similar vein, with strong, mainly organic growth from existing customers and a number of exciting deals, launches and awards.
“We’ve been so busy this quarter it is tough to pick out a handful of highlights. A good place to start is with our launch in the UK, which we completed, as promised, within the quarter.”
He continued: “Elsewhere on the regulatory front, our Gibraltar licence is waiting for final approval – the aim remains to go live in Q2. And we continue to investigate other regulated markets.
“As the top-line figures show,” said Elmqvist, “Yggdrasil is in rude health and we cannot wait to push forward for the rest of 2016 and beyond.”
