Sulake reports their best half year result

[Mr-Trainor]

http://www.sulake.com/blog/entries/2010-Sulake_Reports_H1_2010_Financials_.html

[quote=Sulake]Sulake, the parent company of Habbo Hotel (that's us!) today announced its best-ever half year performance in the company's history. Our H1/2010 revenue reached €29.8 million (IFRS), a 20% increase versus 2009 first half. During the same period, the company EBITDA result improved by 63% to €3.5 million, with solidly positive operating cash flow.

Naturally, we are very excited to be able to tell great news like this. This performance is thanks to systematic work in developing our operating model, cost savings and most importantly, continuous focus on developing the Habbo Hotel product and community. We expect to continue on the same track, and have yet to fully utilize the potential of social networks as a source of growth.

Habbo Hotel serves over 15 million unique visitors from more than 150 countries in 11 different languages. Our players spend a total of 45 million hours playing Habbo Hotel each month.[/sulake]

Well done them :P However, please note this isn't just Habbo alone, although mainly Habbo, and is Sulake as a whole.

[Pyroka]

Not surprised, they're cutting down on stuff anyway.

[Ajthedragon]

I guess this is a good thing if we want habbo to keep going...

[Alkaz]

This is why I never really understood the merge but hey ho. With all this money floating around I'm sure they could afford to employ several decent moderators?

[Special]

it still ceases to amaze me how they make so much

[Mr-Trainor]

it still ceases to amaze me how they make so much
Rember, they also have Bobba Bar and IRC-Galleria so it's not all just Habbo :P

[Apple]

Not surprising at all really, they have made massive cuts so obviously will of saved money meaning more profits. I doubt they will see a rise like this next year unless they make more cuts.

[Dannnny,]

Hmm sounds like they have had a good year then well having.

[-:Undertaker:-]

Somehow I don't think the staff who have been laid off will be celebrating this news.

[Jordy]

This is revenue not profit, so it doesn't mean they have €30m floating around, they still have to pay taxes, wages and server bills etc on top of that I believe (Feel free to correct me if I'm wrong). They could well still be making a loss for all we know.

[Mr-Trainor]

I doubt it's a loss when it's their best ever half year result. If it's a loss then that could mean they've never made a profit lol.

[Jordy]

I doubt it's a loss when it's their best ever half year result. If it's a loss then that could mean they've never made a profit lol.Yeah that is true. If they've increased revenue and decreased operating costs I would imagine they're doing quite well but we can't really be sure. My point is they don't have €30m floating around :p

[HotelUser]

I guess all their hard work merging the hotels and hiring teenage moderators with such high anual salaries who are just so affective paid off.

But hey--who am I to be so selfish? Our CEOs can now buy twice a bigger yahght.

[KyoraStryker]

Referring to Habbo in particular:

It's not surprising that Sulake is doing well with profit. Sulake gets their money out of Habbo by soliciting commission prices when someone buys an item via the marketplace, and you end up losing a coin if you purchase a bronze coin then redeem it.

Really? Is that seriously necessary?