Continued Very Strong Development for Stillfront Group
Stillfront issued its Interim Report for the period January – June 2016 on August 26. CEO Jörgen Larsson comments:
“Stillfront has during the first half of 2016 achieved two milestones that I am very proud of: We have launched two games – Coldwood’s Unravel and Bytro’s New World Empires. We have also made our first acquisition as a listed company by acquiring a majority stake in Simutronics. Both milestones are fully in line with Stillfront’s strategy PLEX. Further, the Board of directors has been strengthened by the addition of two very competent and experienced directors: Annette Brodin Rampe and Mark Miller.
Stillfront’s revenues increased by 114% as compared to the first half of 2015. The profitability is still very strong and our prime profitability metric, EBITDA excluding expensed investments, amounted to 20.3 MSEK, corresponding to an all time high profit margin of 42%.”
Highlights of the report:
• Net revenues amounted to 48.4 MSEK (corresponding period 2015: 22.7 MSEK), which is an increase of 114% compared to the corresponding period 2015.
• EBITDA excluding expensed investments amounted to 20.3 MSEK (5.1 MSEK), which is an increase of 299%. EBITDA including expensed investments amounted to 9.5 MSEK (1.2 MSEK).
• Profit/loss before tax was 6.2 MSEK (-2.5 MSEK), which is an improvement of 8.7 MSEK. Profit/loss after tax was 2.8 MSEK (-2.9 MSEK).
• Earnings per share before dilution amounted to 0.54 SEK (-0.97 SEK). Earnings per share after dilution amounted to 0.53 SEK (-0.94 SEK).
• As of June 30 cash and cash equivalents amounted to 76.5 MSEK (6.2 MSEK).
• Remaining 49% of Bytro Labs GmbH acquired in June. Stillfront now owns 100% of Bytro Labs.
• Acquisition of a majority stake in Simutronics Corp was made in June. Simutronics is consolidated as of June 1, 2016.
• Bytro launched New World Empires, a free-to-play game in the Grand Strategy Games genre.
• Sales of Unravel commenced February 9 and has been very satisfying. Coldwood has entered an agreement with Electronic Arts regarding the development of a sequel to Unravel.
Key figures, The Group
|2016 Jan-jun||2015 Jan-Jun||2015 Jan-Dec|
|Growth in revenues||114%||114%|
|EBITDA excl investments||10.3||0.3||20.3||5.1||12.9|
|EBITDA margin excl investments||44.5%||2.8%||42.0%||22.3%||22.6%|
|EBITDA incl investments||2.9||-1.8||9.5||1.2||4.0|
|EBITDA margin incl investments||12.7%||-16.6%||19.7%||5.5%||7.1%|
|Profit/loss before tax||0.3||-3.8||6.2||-2.5||-4.5|
The full report, in English and Swedish, is published on the Stillfront website, section Investors/Financial Reports.