Stillfront Group AB: Year End Report January-December 2016

February 23, 2017

Year End Report January-December 2016

STILLFRONT GROUP AB (PUBL)

The year january – december 2016

  • Net revenues amounted to 94.8 MSEK (2015: 55.4 MSEK), which is an increase of 71% compared to the corresponding period 2015. The net revenues in 2014 amounted to 29.2 MSEK.
  • EBITDA amounted to 34.3 MSEK (15.8 MSEK), which is an increase of 117%. EBITDA has, in accordance with IFRS been charged with acquisition costs of 1.3 MSEK. EBITDA excluding acquisition costs amounted to 35.5 MSEK during 2016. EBITDA in 2014 amounted to 4.8 MSEK.
  • Operating result after financial items amounted to 23.4 MSEK (2015: 2.9 MSEK, 2014: -4.9 MSEK), an increase of 20,5 MSEK compared to the previous year. The net result for the year amounted to 21.0 MSEK (2015: 0.5 MSEK, 2014: -7.4 MSEK), an improvement of 20.5 MSEK compared to the previous year.
  • Net result per share before dilution amounted to 2.89 SEK (2015: -0,26 SEK, 2014: -3.34 SEK ) Net result per share after dilution amounted to 2.86 SEK (2015: -0.26 SEK, 2014: -3.34 SEK).
  • As of December 31, cash and cash equivalents amounted to 35.8 MSEK (2015: 73.5 MSEK, 2014: 4.3 MSEK).
  • The board proposes that the annual profit be appropriated by profit carried forward.
  • Stillfront Group has prepared this year end report in accordance with IFRS. All comparative figures have been restated under IFRS. This report presents two comparative years, 2014 and 2015. In subsequent reports, only one comparison will be presented. This is the first time Stillfront Group applies IFRS.
  • The remaining 49% of Bytro Labs GmBH was acquired in June.
  • Acquisition of a majority shareholding in Simutronics Corp. was carried out in June.
  • Sales of Unravel started February 9, 2016 and has been very satisfactory. Coldwood has during 2016 entered into a new agreement with Electronic Arts Inc for the development of a sequel to Unravel.
  • Acquisition of all shares in Babil Games took place in December 2016.

The Quarter October – December 2016

  • Net revenues amounted to 24.6 MSEK (corresponding period 2015: 18.7 MSEK), which is an increase of 31% compared to the corresponding period 2015.
  • EBITDA amounted to 7.1 MSEK excluding acquisition costs amounting to 0.3 MSEK. Including acquisition costs EBITDA amounted to 6.8 MSEK (4.7 MSEK).
  • Operating result after financial items amounted to 1.2 MSEK (-5.4 MSEK). The net result amounted to 7.7 MSEK (-5.7 MSEK).
  • Earnings per share before dilution amounted to 1.38 SEK (-1.51 SEK). Earnings per share after dilution amounted to 1.37 SEK (-1.51 SEK).
  • Acquisition of all shares in Babil Games took place in December 2016

Successful 2016 with Strong Growth, Good Margins and Low/Controlled Risk

2016 has been a very successful year for Stillfront Group. Stillfront increased sales by 71% and EBITDA by 117%. We have acquired two studios, which have broadened our activities with both mobile games and geographically to the high-potential market in the Middle East. We have also doubled the number of core games during the year.

This year end report is the first where Stillfront Group applies the International Finance Reporting Standards IFRS. All comparative figures have been restated according to the new framework. We have decided to adopt IFRS as we judge this to improve transparency and facilitate comparison with our peers, “says Jörgen Larsson, CEO Stillfront Group.

Key figures, The Group

MSEK 2016
okt-dec
2015
okt-dec
2016
jan-dec
2015
jan-dec
2015
jan-dec
Net Revenues 24 552 18 719 94 832 55 380 29 202
Growth in revenues 31% 71%
EBITDA 6 773 4 808 34 264 15 779 4 769
EBITDA margin 27.6% 25.7% 36.1% 28.5% 16.3%
Operating result after financial items 1 162 -5 403 23 443 2 873 -4 895
Net Result 7 668 -5 738 20 976 503 -7 416

For further information, please contact:

Jörgen Larsson, CEO Sten Wranne, CFO
Tel: 070-321 1800, jorgen@stillfront.com Tel: 0705-851258, sten@stillfront.com

 

A presentation of the Year End Report will be webcasted at http://www.paretosec.com/gaming-seminar-2017.php
The slides from the presentation are available on Stillfronts website http://www.stillfront.com/site/investor-relations/financial-reports/

About Stillfront

Stillfront is a group of independent creators, publishers and distributors of digital games – with a vision to become the leading group of indie game creators and publishers. Stillfront operates through six near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States and Babil Games in UAE and Jordan. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and MENA. For further information, please visit www.stillfront.com.

Selected games

Stillfront’s portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics.

Nasdaq First North Ticker Symbol: SF
Certified Adviser: Avanza Bank, phone +46 8 4094 2120

This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.15 CET on February 23, 2017.

2017Q4 ENG