Industry games and platform provider Yggdrasil has declared 2016 as its most successful year in business, with the company reporting a staggering 332% increase in corporate revenues to SEK 87 million (£7.7 million).
Significantly strengthening its commercial pipeline, Yggdrasil has signed twenty new industry clients during the year (eleven of them in the UK market). The commercial boost would see Yggdrasil deliver a full-year 2016 EBITDA of SEK 40 million (£3.5 million) up 670% on FY 2015’s SEK 5 million.
Speaking to investors, a confident Yggdrasil CEO Fredrik Elmqvist believes his firm is on course to be the industry leading igaming content provider. Elmqvist points to Yggdrasil’s effective games output which has seen it release 13 new titles in 2016, making Yggdrasil one of the most consistent games developers for the market.
As an industry stakeholder, Yggdrasil development has brought new innovation to client game portfolios developing new in-game promotional tools BRAG and Missions optimising player engagement.
Yggdrasil’s output has been recognised by clients, with the company winning ‘Best Slot Provider’ at the 2016 EGR B2B Awards and iGaming Software Supplier of the Year at the 2016 International Gaming Awards
Elmqvist commented on Yggdrasil’s success to date “When we founded Yggdrasil in 2013, we had a very clear mission to become the industry’s best games supplier, and we continue to make rapid progress towards this goal. While we may be an underdog compared to some of the industry’s titans, we are now very much established as a force in this sector.”
The CEO now leads Yggdrasil through its next stage of growth, with the company committing significant capital to growing its resources with a core focus on in-house development teams and acquiring top talent.
“Our team is now more than 100 strong, with an international management group consisting of people from Sweden, the UK, Italy and Poland. we are planning to move into a new permanent office in Stockholm by the end of the year, while our Poland operation moves into a bigger office by the end of February.”
Coming back from a successful conference period, Yggdrasil’s CEO believes that his firm will gain the capacity to meet all industry challenges, as its operator clients seek to expand their international services.
Having secured multiple international licenses for games and platform provisions in the regulated markets of the UK, Romania, Gibraltar and Malta, Elmqvist believes that Yggdrasil has the scale and capability to lead operator goals and ambitions.
“While we may be an underdog compared to some of the industry’s titans, we are now very much established as a force in this sector. Our growth in recent years has been fantastic, but more importantly, we have laid the foundations to build a sustainable, world class gaming supply that will continue to push this industry forward.”