Cherry: First comment Q3, confident that the problems will be fixed
Research Note
2017-11-08
16:15
Today Cherry released their report for the third quarter of 2017. As the company had disclosed preliminary results, the outcome was already known. The Group grew their net sales by 165% with an EBITDA margin of 20%. Online Gaming (Comeon) is struggling, but Cherry is taking measures with a change of management, Game Development (Yggdrasil) continues their growth journey, and Online Marketing (Game Lounge) is picking up the phase. For a more in-depth discussion about the quarterly outcome read our text on the preliminary results. In this comment, we will focus on new information and not so much on the results, and make our best effort to dissect that information.
KL
Kristoffer Lindström
Disclosures and disclaimers