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Interim report, Q1 2019

Highlights first quarter

  • Net revenue amounted to 418 MSEK (315 MSEK), an increase of 33% compared to the first quarter of 2018.
  • EBITDA amounted to 154 MSEK (103), an increase of 50%.
  • EBIT amounted to 113 MSEK (73), an increase of 54% compared to the same quarter last year.
  • The net result amounted to 69 MSEK (46).
  • The net result per share undiluted amounted to 2.93 SEK (2.05). The net result per share diluted amounted to 2.91 SEK (2.04).
  • Net debt amounted to 485 MSEK (355) and the adjusted leverage ratio was 0.9x.

Comments from the CEO

“The first quarter of 2019 started off strong for Stillfront, reporting 33% revenue growth and solid profitability with an EBIT margin of 27%. In the first quarter, our user acquisition cost, UAC was 108 MSEK or 26% in relation to net revenue. The growth in the quarter is a result of us evidencing our ability to execute highly profitable marketing campaigns. Our evolving game portfolio continue to perform well driven both by continued organic growth as well as strong contribution from acquisitions. Our newly acquired studios Imperia Online and Playa Games are contributing with high margins in the first quarter. New launches are delivering according to plan and our largest brands Empire and Big continued to grow sequentially. Looking ahead, our strategy remains unchanged – to focus on low risk and long life-cycle games. Our healthy financial position supports investments in business development and in addition, we continue to see strong opportunities for profitable growth through acquisitions.”

Jörgen Larsson, CEO, Stillfront Group

Invitation to Q4 presentation

A presentation of the report will be held today at 10.00 CEST via telephone conference or audiocast where Jörgen Larsson, CEO and Sten Wranne, CFO, are to comment on the report.

The conference will be held in English.

To participate via webcast, please visit:

To participate via phone, please call:

  • SE: +46 8 505 583 66
  • UK: +44 33 330 090 31
  • US: +1 83 352 683 47

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 below, on May 8, 2019 at 07.00 CEST.

About Stillfront

Stillfront is a global group of gaming studios and a market leader in the free-to-play online strategy games genre. Our diverse and exciting games portfolio has two common themes; loyal users and long lifecycle games. Organic growth and carefully selected and executed acquisitions embody our growth strategy and our 500 co-workers thrive in an organisation that engenders the spirit of entrepreneurship. Our main markets are the US, Germany, MENA, France and UK. We are headquartered in Stockholm, Sweden and the company is listed on Nasdaq First North Premier.

For further information, please visit:

Certified Adviser:

FNCA, Phone: +46 8 528 00 399 E-mail:

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Stillfront develops digital games for a diverse global audience and our broad games portfolio is enjoyed by around 50 million people every month.


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