Stillfront Group AB: Interim Report January – June 2017

Interim Report January – June 2017

PRESS RELEASE AUGUST 29, 2017

STILLFRONT GROUP AB (PUBL)

The interim period January – June 2017

  • Net revenues amounted to 67.3 MSEK (corresponding period 2016: 48.4 MSEK), which is an increase of 39% compared to the corresponding period 2016.
  • EBITDA amounted to 17.7 MSEK compared to 20.7 during the corresponding period 2016 when there were significant high margin royalty payments regarding Unravel. EBITDA has been charged with costs pertaining to improved IT infrastructure at Bytro, conversion to IFRS, acquisitions and move to Nasdaq First North Premier with a total of 2.1 MSEK.
  • Profit/loss before tax was 6.6 MSEK (17.1). Profit/loss after tax was 2.1 MSEK (11.2).
  • Earnings per share before dilution amounted to 0.58 SEK (1.42 SEK). Earnings per share after dilution amounted to 0.57 SEK (1.39 SEK).
  • As of June 30 cash and cash equivalents amounted to 91.8 MSEK. As of Dec 31, 2016 cash and cash equivalents amounted to 35.8 MSEK.

The Quarter April – June 2017

  • Net revenues amounted to 37.3 MSEK (corresponding period 2016: 23.1 MSEK).
  • EBITDA amounted to 10.0 MSEK compared to 9.5 MSEK during the corresponding period 2016, when there were significant high margin royalty payments regarding Unravel. EBITDA has been charged with costs pertaining to improved IT infrastructure at Bytro, conversion to IFRS and move to Nasdaq First North Premier with a total of 1.3 MSEK.
  • Profit/loss before tax was 3.7 MSEK (7.8). Profit/loss after tax was 1.4 MSEK (5.1).
  • Earnings per share before dilution amounted to 0.34 SEK (0.76 SEK). Earnings per share after dilution amounted to 0.34 SEK (0.75 SEK).
  • The acquisition of eRepublic Labs Limited was announced May 30 and completed June 27.
  • Stillfront issued a bond loan amounting to 110 MSEK within in a frame of 500 MSEK May 23.
  • Stillfront’s share was moved to Nasdaq OMX First Nordic Premier June 29

Events after the Interim Period

  • The German sports management game OFM was acquired July 18. A publishing agreement regarding Football Empire was entered in connection with the acquisition. 
  • Stillfront’s bond was listed on Nasdaq OMX Nordic July 21.

ALL TIME HIGH REVENUES AND CONTINUED ACQUISITION ACTIVITIES

Our exciting growth journey continues. The acquisitions of eRepublic and OFM are in line with our strategy to achieve good returns through a wide portfolio of games and studios. The acquisitions also add significantly more than just profitable products. Thanks to our attractive business model, we can also obtain new skills and capabilities that will benefit the entire Stillfront Group. We continue to work intensly with acquisitions and the bond loan we raised during the quarter, with a framework of 500 MSEK, gives us financial strength for continued growth”, says Jörgen Larsson, CEO.

 

Key figures, The Group


KSEK
2017
Apr-Jun
2016
Apr-Jun
2017
Jan-Jun
2016
Jan-Jun
Last 12 mnths 2016
Jan-Dec
Net Revenues 37 311  23 139  67 315  48 443  113 704  94 832
Growth in revenues 61%   39%      
EBITDA 10 015  9 502  17 677  20 663  31 278  34 264
EBITDA margin 26.8% 41.1% 26.3% 42.7% 27.5% 36.1%
Profit/loss before tax 3 678  7 811  6 573  17 058  12 958  23 443
Profit/loss after tax 1 442  5 074  2 072  11 214  11 834  20 976

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 eight 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, Babil Games in UAE and Jordan, eRepublik in Ireland and Romania and OFM Studios in Germany. Stillfront’s games are distributed globally. The main markets are France, UK, 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. Tank Storm and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War is a successful mobile strategy game developed and published by eRepublik Labs. OFM is a popular sports management game developed and published by OFM Studios.

Note

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 08.30 CEST on August 29, 2017.

For further information, please contact:

Jörgen Larsson, CEO
+46-70-321 1800
jorgen@stillfront.com

Sten Wranne, CFO
+46-705-851258
sten@stillfront.com

Avanza Bank is Stillfront’s Certified Adviser, and can be reached at +46-8-4094 2120.