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Playtech Estonia's 2017 revenue surges 19% to €34.7 million

Playtech Estonia is headquartered in Tartu.
Playtech Estonia is headquartered in Tartu. Source: Margus Ansu/Postimees/Scanpix

While its net profit shrank by 51.7% to €493,900, revenue of the software company Playtech Estonia OÜ grew 19.3% on year to €34.7 million in 2017.

The company finished the year 2017 with a profit thanks to the continuation of cooperation with existing partners and new agreements concluded by the parent company, the management board of Playtech Estonia said in its annual report.

The company's plan for 2018 is to continue business and expand to new markets.

All of the company's output is exported, and in 2017 all of the revenue from system analysis, programming and custom software development was earned outside of the EU.

The average number of employees declined by eight to 540 in 2017, however wage costs increased 8.8% to €16.6 million. In 2016, the company employed 548 people, with wage costs totalling €15.3 million.

Retained profit from previous periods grew to €9.5 million.

The core business activities of Playtech Estonia OÜ are programming and computer graphics. The company is a part of Playtech Software Ltd.

Editor: Aili Vahtla

Source: BNS

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