Restructuring costs set to push Net Gaming to loss in Q2
Published 15th June 2020
Revenue for the three months to 30 June is forecast to amount to €3.6m (£3.2m/$4.1m), which would be an increase of 4% on the same period last year, and a 14% improvement on the first quarter.
Reported earnings before interest, tax, depreciation and amortisation (EBITDA) are set to be down 23% year-on-year to €1.6m, but after being adjusted for non-recurring costs related to reorganisation and rebranding, EBITDA is likely to be up 4% to €2.1m.
Net Gaming also noted that it expects to post a loss after tax amounting to €1.2m, compared to a profit of €1.2m in Q2 last year. However, when adjusted for non-recurring costs and exchange rate fluctuations, profit after tax should come in at €1.4m for the quarter.
“The underlying operations have shown positive development during Q2, with sequential organic growth of 14%, but also compared with the previous year,” chief executive Robert Andersson said.