Financial highlights Q3 2016
Operating revenues of EUR 14.5 million (incl. EUR 2.7m from Betit), up 50% from EUR 9.7 million in Q2 2016.
- Organic revenue growth of 23% Q/Q
- B2C revenues of EUR 11.4 million, up 76% from EUR 6.4 million in Q2 2016
- B2B revenues of EUR 4.9 million, up 6% from EUR 4.3 million in Q2 2016
- EBITDA of EUR 1.07 million, up from EUR 0.96 million in Q2 2016 (incl. EUR 0.34m in transaction expenses)
- TV-campaigns continued for Guts.com and Rizk.com. Marketing expenses amounted to EUR 5.4 million (35% of revenues), compared to EUR 3.6 million in Q2 (37% of revenues)
Operational highlights Q3 2016
- Acquisition of Betit Holdings completed in September, adding three brands to the company’s B2C gaming operations
- RIZK outperforming expectations first nine months of operations, preparing for 2017 roll-out in several new markets
- Exceeded YE 2016 goal of signing 20 clients to the iGaming Cloud platform. 18 external clients live on the platform YTD
- Focus on high value customers in Innovation Labs. FTD’s down 16% and revenues up 10% Q/Q
- Strengthened group management with Mikael Ångmann (COO)
- Focus on converting new players into long term loyal users
- Significant revenue potential in current iGC client base
- Expects to exceed FY 2016 target of 100% revenue-growth
- Expects revenues to exceed EUR 120 million in 2017
“During the recent year we have successfully transformed from a marketing firm to a technology company. We have throughout this period recruited approximately 250 new employees and built a strong organisation to secure growth and develop the company further. We have exceeded our goal of 20 signed iGC-clients by year end, a result of the efforts of our highly skilled employees and the company’s innovative solutions”, says Robin Reed, CEO of GIG.
Investor presentation and webcast:
A presentation will be held in connection with the financial results for Q3 2016 on Wednesday 02 November 2016. The presentation will take place at 11:00 am CET at Felix Konferansesenter, Bryggetorget 3, 0125 Oslo. The presentation will be given by CEO Robin Reed and transferred via webcast at www.gaminginnovationgroup.