Doubles operating profit and EBITDA up significantly
Online gambling group Entraction has released an impressive set of half year 2009 numbers, showcasing operating profit that has soared 122 percent to SEK 27.3 million, and EBITBA up an impressive 81 percent to SEK 33.8 million.
The H1 statistics show a 45 percent increase in net sales to SEK 227.8 million, although observers pointed to a slower second quarter where net sales 'only' rose 37 percent over Q2 2008.
The company reported continuing success in diversifying into non-Nordic markets - mainly Italy and Spain - with Nordic contributions shrinking from 65 percent to 55 percent.
“We continue to show a highly positive cash flow, which gives us freedom of action and security in a changeable world,” remarked CEO Peter Åström, who added that Entraction will launch online bingo with at least five licensees during the northern hemisphere autumn, which will develop higher volumes.
Entraction also plans to launch a new live betting product in partnership with Evolution Gaming in Q1 2010.
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