July - September 2024 in Summary
- Net Revenue of SEK 465.7 (517.3) million, representing an FX-adjusted organic decline of 12.8 percent.
- EBITDA of SEK 73.8 (114.5) million and Adjusted EBITDA of SEK 101.7 (140.7) million.
- EBIT of SEK -4.5 (43.0) million and Adjusted EBIT of SEK 44.3 (78.4) million.
- Profit before tax of SEK -13.5 (37.1) million.
- Earnings per share of SEK -0.33 (0.11). Adjusted earnings per share of SEK 0.11 (0.43).
- Cash flows from operations of SEK 35.6 (112.8) million.
- Cash balance of SEK 218.5 million with no material bank debt.
Comment from Ji Ham, CEO of EG7:
For the third quarter, EG7 delivered Net Revenue of SEK 465.7 (517.3) million. EBITDA for the period came in at SEK 73.8 (114.5) million and Adjusted EBITDA was SEK 101.7 (140.7) million, corresponding to an Adjusted EBITDA margin of 21.8 (27.2) percent.
The third quarter performance represents the best quarterly results so far this year. As communicated previously, the larger part of the group's performance this year is weighted more towards the latter half of the year. The third quarter performance uptick is representative of this, and we expect similar strong performance for the fourth quarter to finish out the year.
There were several notable highlights for the period and shortly thereafter:
- Acquisition of Singularity 6 in July.
- Release of Core Keeper on PlayStation, Xbox and also exiting out of early access on Steam.
- My Singing Monsters' annual anniversary celebration in September, which resulted in a nice performance boost.
- Release of MechWarrior 5: Clans shortly after the quarter-end.
For the full year, the group's performance expectations remain around SEK 1.8 billion in Net Revenue. Adjusted EBITDA margin expectation has been lowered to 20 percent based on the reduced expectations for MechWarrior 5: Clans for the fourth quarter, resulting from its delayed release compared to plan.
FOR MORE INFORMATION, PLEASE CONTACT:
Fredrik Rüdén, Group Deputy CEO and CFO
Phone: +46 733 117 262
fredrik.ruden@enadglobal7.com
Ludvig Andersson, Head of Investor Relations & Sustainability
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.
Enad Global 7 is listed on Nasdaq Stockholm with Ticker Symbol: EG7
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 2024-11-12 07:00 CET.
