Yggdrasil delivers strong performance in 2018

Games developer Yggdrasil Gaming delivered a strong 2018, an annual report released this week details.

The company reached SEK 274.2 million in total operating revenues marking a 62 percent increase on 2017 and a rise in EBIT of 18 percent to SEK 69.5 million with an EBIT margin of 25 percent.

2018 saw a 100 person increase in total employees to reach 285, a strategy that will continue in retaining top talent in the long-term, Yggdrasil said.

A focus on expansion and strategic business development bore fruit with the launch of two new product verticals, entry into several new markets, the establishment of its new business YGS Masters and the signing of 48 new customers.

“I am thrilled on the outcome of these initiatives and how they will support us in creating synergies with our current product portfolio and in-game promotional tools,” Yggdrasil founder and CEO Fredrik Elmqvist, said.

“Despite a more competitive and complex market environment with a regulatory landscape changing at a faster phase than ever before, we have been successful in capturing further market share. We believe this is the ultimate proof of our concept and clearly demonstrates that our business is in the game for the long run.”

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