Paf reports a strong result for 2021 despite the ongoing pandemic negatively affecting Land & Ship operations.

The result amounts to €34.3 million (€16.7 million in 2020). The trend is driven by Paf’s international success, where among other things the continued strong growth in Switzerland proved to be a successful export of Paf’s know-how within gaming. Paf’s updated public customer segments also show that the result comes from an increased number of “green customers”.

Paf managed to increase sales from EUR 113 million to EUR 135 million, as well as revenue from EUR 16.7 million to EUR 34.3 million.

“This result gives the opportunity to increase the dividend to 20.5 million euros. Compared to last year, that is 5.5 million euros more for the benefit of society. 

Paf managed to adapt well during the second year of the pandemic. Land & Ship operations show signs of improvement with a revenue increase of 13%, but it is still a very low result compared with the years before the pandemic. Online gaming, on the other hand, has seen a consistent improvement throughout last year.

“We can see a stable increase in revenue in the international markets that we are actively investing in. It is gratifying when persistence and hard work now delivers results. Another important reason for the increase is that sports and betting did not experience the same disruptions we saw in 2020,” says Paf’s CEO Christer Fahlstedt.

In the tightly regulated Swiss gaming market, Paf acts as a supplier to the Grand Casino Luzern’s gaming site. The gaming site, which is based on Paf’s gaming platform and technology, has strengthened its position as a clear market leader with a market share reaching as high as 33%.

“We have succeeded in delivering a good overall solution to our Swiss partner, with a product that performs well in a market that is beginning to become increasingly mature and competitive. We have proven that we have the capacity and know-how needed to export our product internationally,” says Christer Fahlstedt.

“This result gives us the opportunity to increase the dividend to 20.5 million euros. Compared to last year, that is 5.5 million euros more for the benefit of society. This is a success we are proud to share,” says Paf’s Chairman of the Board Jan-Mikael von Schantz.