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Cherry publishes its Annual Report for 2016

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Cherry’s Annual Report for 2016 is from today available on the company’s website, http://cherry.se/en/financial-reports/ 

The English PDF version will be available on our website during week 18. A printed version of the Annual Report will be distributed to those shareholders who have requested it.

In conjunction with the presentation of the Annual report for 2016, the Board of Cherry AB has adjusted the financial targets for the Group.

The following financial targets shall be the guiding principles for the activities within the Group over a business cycle:

Revenue growth

  • Cherry’s goal is, over a business cycle, to grow faster than the European market gaming industry, primarily driven by the business areas Online gaming and Gaming Technology. Further, Cherry aims to grow also via acquisitions. For the business area Restaurant Casino, the goal is to represent 70 per cent of the restaurant casino market in Sweden.

Margin

  • Cherry’s goal is to increase the adjusted EBITDA margin over time, and medium term reach an adjusted EBITDA between 15 to 18 per cent.

Capital structure

  • Cherry’s capital structure shall enable a high degree of financial flexibility and to provide scope for acquisitions. The company’s target rate for our solidity is at least 30%.

Dividend policy

  • Cherry’s goal is to distribute 50 per cent or more of the net profit. Consideration must however be taken to the company’s financial position, cash-flow, acquisition prospects and financial outlook.

For further information, please contact:
Anders Holmgren, CEO,+46 708 607 534, anders.holmgren@cherry.se

Carolina Haglund Strömlid, Head of Investor Relations & Communications, +46 708 807 173, carolina.stromlid@cherry.se 


Cherry in brief 

Cherry is a Swedish innovating and fast growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast-growing and profitable businesses within the gaming and casino industry. Cherry operates within five diversified business areas, Online Gaming through Cherry ComeOn!, Performance-based Marketing through Game Lounge, Gaming Technology through XCaliber. Game Development through Yggdrasil Gaming and Restaurant Casino through Cherry Spelglädje. The objective is to grow organic in combination with strategic acquisitions of fast-growing companies. Cherry employs around 1 100 people and has more than 5,600 shareholders. The Company’s B-shares are listed on AktieTorget. 

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Cherry Annual Report 2016

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