MRG Group remains confident and focused on delivering its 2020 strategy, after its Q3 interim report highlighted “a record-breaking” performance.
The enlarged organisation, which conducted a corporate rebranding earlier in the year, saw it’s 50.9 per cent Q3 revenue increase reach SEK 445.2m (£38m), contributing to a full year 44.2 per cent boost to SEK 1.2bn (£100m).
Commenting on his firm’s performance Per Norman, MRG CEO, explained: “We have now reported strong growth for a couple of years, which is proof that MRG has strong brands, an attractive product offering and effective customer communication.
“We grew by a record breaking 50.9 per cent during the quarter, improved EBITDA by 49.4 per cent and set new customer records.
“Organic growth was 36.4 per cent and growth on the preceding quarter was 7.9 per cent. Over the past two years, we have outperformed our growth targets every quarter.
“The EBITDA margin increased by six percentage points on the preceding quarter to 17.0 per cent. Customer deposits rose by 72.3 per cent and depositing customers by 47.3 per cent, despite having reduced the relative amount of marketing costs.
“This shows that we have strong brands, a competitive offering and that our digitalised marketing is effective.”
Highlighting the impact of a series of strategic initiatives contributing to its geographic expansion, Norman also stressed the importance of its Evoke Gaming integration.
Regarding the entity, purchased in February of this year, it was added that “the integration process went significantly faster than plan and led to greater synergies than we had calculated initially. We expect full annual synergies of about SEK 40 million from the fourth quarter of this year.”
Looking ahead at what it is hoped will be a period of sustained growth, Norman remained bullish about the growth expectations presented at the Capital Markets Day earlier in the year.
“We will deliver on our guidance for the full-year 2018 with growth of not less than 40 per cent and an EBITDA margin of about 15 per cent,” predicted Norman.
“We are also confident in our financial targets which entail that, by 2020, we are expected to achieve annual revenue growth of 25 per cent and an EBITDA margin of 15 per cent.”