Financial targets

Growth

Annual organic revenue growth above addressed market (supported by selective and accretive M&A). Stillfront’s addressed market is defined as the global mobile games market excluding China.

  • Market

    Annual organic revenue growth above addressed market (supported by selective and accretive M&A). Stillfront’s addressed market is defined as the global mobile games market excluding China.

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Profitability

Annual adjusted EBITDAC margin in the range 26-29 percent. Stillfront’s Adjusted EBITDAC is defined as profit before interest, tax, depreciation, amortization, less capitalized product development, adjusted for items affecting comparability.

  • Adjusted EBITDAC margin

    Stillfront’s Adjusted EBITDAC is defined as profit before interest, tax, depre-ciation, amortization, less capitalized product development, adjusted for items affecting comparability.

    26- 29 %

Leverage

Leverage ratio below 2.0x (including cash earnouts next 12 months). Stillfront’s leverage ratio is defined as net interest-bearing debt, including short-term cash earnout payments, in relation to the last twelve month’s Adjusted EBITDA pro forma. Stillfront may, under certain circumstances, choose to exceed this level during shorter time periods.

  • Net debt

    Including NTM cash earnouts/Adjusted EBITDA ratio

    < 2 x

Dividend policy

Stillfront’s board of directors has adopted the following updated dividend policy, which is applicable until further notice:
When cash flow exceeds what Stillfront can invest in profitable expansion over the long-term and funding of potential share repurchase program(s) to cover contingent earn-out liabilities, Stillfront aims to distribute such surplus to shareholders in the form of dividends and/or repurchase of its own shares. Decisions on proposed dividend/share repurchase program(s) will consider Stillfront’s financial position and prevailing economic and operational conditions.