July - September 2023 in Summary
- Net Revenue of SEK 517.3 (444.5) million, representing 16.4 percent organic growth.
- EBITDA of SEK 114.5 (123.2) million.
- Adjusted EBITDA of SEK 140.7 (113.1) million, corresponding to 24.5% percent growth and 27.2% percent margin. The net adjustments for non-recurring items totaled SEK 26.2 million, consisting of SEK 31.8 million in revaluation of Earn-Out liability for Piranha and -6.3 million in restructuring reserve reversal for Antimatter Games' closure.
- EBIT of SEK 43.0 (59.2) million.
- Adjusted EBIT of SEK 78.4 (56.9) million.
- Profit before tax of SEK 37.1 (49.5) million.
- Earnings per share of SEK 0.11 (1.35). Adjusted earnings per share of SEK 0.43 (0.30).
- Cash flows from operations of SEK 112.8 (131.3) million.
- Cash balance of SEK 472.5 million with no bank debt at group level.
Note: Innova was divested in September 2022 and was reported as discontinued operations in Q2 2022
Comment from Ji Ham, Acting CEO of EG7:
We are pleased to deliver solid results for the third quarter with Net Revenue of SEK 517.3 (444.5) million, representing an organic growth of 16.4 percent year-over-year. Adjusted EBITDA came in at SEK 140.7 (113.1) million, a 24.5 percent increase year-over-year and 27.2 percent margin.
My Singing Monsters continued its elevated performance during the period. As a result, Big Blue Bubble remains an important contributor with Net Revenue of SEK 123.4 (47.9) million and Adjusted EBITDA of SEK 87.9 (30.4) million for the period, representing 157.4 percent and 189.1 percent growth year-over-year, respectively.
Daybreak signed the exclusive, worldwide publishing rights for Cold Iron Studio's new multiplayer action shooter based on a major global IP slated for release in 2025. This represents an important new growth opportunity with a balanced risk-reward profile that is representative of the group's updated growth strategy as presented at the capital markets day.
The group continues to deliver healthy results around expectations, benefitting from a balanced portfolio with a solid foundation of sustainable revenues.
FOR MORE INFORMATION, PLEASE CONTACT:
Fredrik Rüdén, Deputy CEO and CFO
Phone: +46 733 117 262
fredrik.ruden@enadglobal7.com
Ludvig Andersson, Investor Relations Manager
Phone: +46 730 587 608
ludvig.andersson@enadglobal7.com
About EG7
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 470+ game developers and develops its own original IPs, as well as acts as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games, Toadman Studios and Big Blue Bubble. In addition, the group's marketing department Petrol has contributed to the release of 2,000+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution departments Fireshine Games hold expertise in both physical and digital publishing. EG7 is headquartered in Stockholm with approximately 630 employees in 16 offices worldwide.
Nasdaq First North Growth Market Ticker Symbol: EG7
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This information is information that Enad Global 7 is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-11-14 07:00 CET.
