MRG Group has published its Q3 2018 results, revealing a a 50% group revenue increase despite the firm reducing the relative amount of marketing costs.
Customer deposits rose by 72.3% and depositing customers by 47%. “This shows that we have strong brands, a competitive offering and that our digitalised marketing is effective,” argued CEO Per Norman.
Detailing a ‘record-breaking’ quarter performance, the Stockholm enterprise described a period of high customer activity, combined with the effective integrations of its acquired Evoke Gaming assets.
“The integration of Evoke Gaming, which we acquired in February, has now been completed. 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,” described Norman.
Having rebranded its corporate identity to MRG Group, last May the firm announced its guiding 2020 vision, seeking to continue its ‘fast growth profile’.
Delivering its growth strategy mandate, an enlarged MRG Group believes that it can maintain a 25% annual growth rate until 2020, generated through smart acquisitions and organic growth.
“Our Strategy 2020, presented at the Capital Markets Day in May of this year, is robust. We are continuing, just as we announced at that time, to grow strongly and with improved profitability. We can report a good development for the current quarter up until yesterday,” Norman added.
“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%. We are also confident in our financial targets which entail that, by 2020, we are expected to achieve annual revenue growth of 25% and an EBITDA margin of 15%.”