Alfastreet exceeds sales plan for Q1 by 18%, driven by post-pandemic recovery

Gaming provider Alfastreet has released financial results for the first quarter of the year, reporting that the company has exceeded its sales plan by 18%.

While the pandemic had a huge impact on the industry and the last two years were challenging for both manufacturers as well as suppliers of gaming equipment, Alfastreet "moved in the right direction" and successfully managed the crisis, taking all the necessary precautions to ensure "a healthy and stable" business in these past months, according to a press release.

The company CEO, Tjasa Luin Peric commented on the quarterly results: "We recognized some positive movement in terms of sales already in the last 2 months of the previous year, but honestly, we were not expecting that our customers will re-start to invest already at the beginning of this year when the pandemic was still present in many countries all around the world and operators were facing low visitor entrances."

"Our sales and profit forecast for the first quarter of the year was very conservative and we were actually a little bit surprised by the turn of events, as we didn’t expect the increase before the next quarter. By exceeding the sales plan by 18% we finished the first quarter with a profit, also because of the decision to not attend the ICE show in April, as well as some other regional gaming shows, therefore relieving unnecessary expenditures," she added.

The CEO explained the company's sales staff re-started with travels to worldwide partners only two months ago, and the company is "already fully focused and committed to the achievement of the new goal for the second quarter of the year." According to Peric, "the forecast is very positive and we finally see a bright light at the end of the tunnel."

"Hopefully, the situation with the deliveries of materials will also improve in the next months, because as do many other industries, we are facing long delays, considerably affecting our planning and re-organization, while trying to fulfill most of the orders in time," she added. "It is the first time in our history that we have to operate with such long delivery dates for crucial materials and it is surprising to know that similar situations are happening in all sectors all over the world."

Next on the company’s agenda is G2E Las Vegas, followed by ICE London in 2023. In both events, the company will showcase some of its novelties. However, the "best features" will be saved for a re-launch in February 2023, as stated by the company.