Financial summary fourth quarter
Profit and loss, in summary, group | Oct-Dec | Jan-Dec | ||
SEK thousands | 2024 | 2023 | 2024 | 2023 |
Revenue | 519 | 919 | 1 320 | 6 691 |
EBITDA | -1 723 | -3 088 | -10 730 | -14 809 |
Depreciation, amortization and impairment losses | -69 | -953 | -275 | -27 352 |
Earnings Before Interest and Taxes (EBIT) | -1 795 | -4 054 | -11 012 | -42 176 |
Profit/loss for the period | -3 932 | -22 392 | -15 966 | -58 485 |
EPS | -0,005 | -0,14 | -0,03 | -0,36 |
Consolidated Results
Three months October-December 2024
Revenue: The Group's net revenue amounted to 519 KSEK (919). The comparative figures include divested assets. The decrease in revenue is in line with expectations as the Group has divested assets in previous periods.
EBITDA: The Group's EBITDA for the period amounted to -1,723 TSEK (-3,088 TSEK). The improvement is attributable to divested assets as well as cost savings within the Group.
Net Result: The Group's net result for the period amounted to -3,932 TSEK (-22,392 TSEK), a significant improvement compared to the previous year, mainly due to goodwill write-downs. Earnings per share amounted to -0.005 SEK (0.138 SEK).
January-December 2024
Revenue: The Group's net revenue amounted to 1,320 TSEK (6,691 TSEK). The comparative figures include divested assets. The decrease in revenue is in line with expectations.
EBITDA: The Group's EBITDA for the period amounted to -10,730 TSEK (-14,809 TSEK), attributable to reduced costs in line with cost-saving measures.
Net Result: The Group's net result for the period amounted to -15,966 TSEK (-58,485 TSEK). Earnings per share amounted to -0.028 SEK (-0.361 SEK).
CEO Letter
A Strong Future with a Clear Direction
Over the past year, we at Rightbridge Ventures have laid a solid foundation for the company's future. We have worked intensively to strengthen our financing and build a structure that enables long-term growth. The market climate is challenging, but with determination and a clear strategy, we have created the conditions to develop the company in a direction we firmly believe in.
Our future is built on a combination of strong IP rights and game development. Working with established and well-known IPs provides us with several strategic advantages. We see a clear potential to reduce marketing costs (CPI) through the already existing engagement surrounding these brands. Additionally, strong IP rights naturally provide access to existing communities and fans, creating a higher level of organic engagement and loyalty. This combination of strong brands and game development establishes an efficient model for scalable growth and long-term success.
The acquisition of Raketspel is an important step in this direction, and our previously announced agreement with CF Entertainment regarding the development of mobile games featuring Crazy Frog-an IP with over 10 billion views on YouTube-is further confirmation of our strategy. At the same time, we are in advanced discussions regarding additional globally strong IP rights and have a clear plan to add more to our portfolio shortly. We have already begun game development with Raketspel based on the IPs we collaborate on, which is an important milestone in our strategy.
We recognize that raising capital in today's market conditions is a challenge, and we are humbled by the difficulties that we and the entire industry have faced. At the same time, we are grateful for the support we have received so far and hope for continued trust from our investors and partners. We have strong support from a well-established and reputable investment bank in this process, and with a clear strategy and passion for what we do, we are confident that we are building something long-term and value-creating.
To further clarify our new direction and mark a distinct break from the company's previous operations, the board has decided to change the company name to IP FACTORY. This name reflects our core business and our future ambition to create value through strong intellectual property rights and game development. We have also implemented extensive cost reductions and scaled down the business to an absolute minimum to quickly turn to profitability. There will be a separate announcement and call for EGM to do the official name change.
Beyond gaming, we are now exploring various business models to capitalize on our IP rights in other areas. We have broad expertise in this field and see great potential in expanding the use of our IPs into new markets and business models.
We look forward to the journey ahead and are delighted to have you with us. Together, we can create something truly exciting.
Claes Kalborg, CEO
Rightbridge Ventures Group
For more information, contact:
Claes Kalborg, CEO
Phone: +46 73 444 55 07
Email: claes.kalborg@rightbridge.se
Mads Jorgensen, Chairman of the Board
Phone: +45 28 97 15 75
Email: mvj@bluehorizoninvestment.com
Address:
Rightbridge Ventures Group AB (publ)
Nybrogatan 6, 114 34
Stockholm
Disclosure
This information is such that RightBridge Ventures Group AB (publ) is obligated to disclose under the EU Market Abuse Regulation. The information was submitted for publication, through the above-mentioned contact person, on February 28, 2025, at 07:32 AM.
