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Stillfront Group AB: Stillfront Interim Report January – June 2016

Interim Report January-June 2016


The interim period january – june 2016

  • 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)[1].
  • 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.
  • 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.

The Quarter April – June 2016

  • Net revenues amounted to 23.1 MSEK (previous quarter: 25.3 MSEK).
  • EBITDA excluding expensed investments amounted to 10.3 MSEK (10.0 MSEK). EBITDA including expensed investments amounted to 2.9 MSEK (6.6 MSEK).
  • Profit/loss before tax was 1.5 MSEK (4.7 MSEK). Profit/loss after tax was 0.3 MSEK (2.5 MSEK).
  • Earnings per share before dilution amounted to 0.06 SEK (0.51 SEK). Earnings per share after dilution amounted to 0.06 SEK (0.47 SEK).

A strong first half of 2016

“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.

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%”. says Jörgen Larsson, CEO.


Key figures, The Group

MSEK 2016
2016 Jan-jun 2015 jan-jun 2015 jan-dec
Net Revenues 23.1 10.8 48.4 22.7 57.1
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

For further information, please contact:

Jörgen Larsson, CEO
+46-70-321 1800

Sten Wranne, CFO

About Stillfront

Stillfront is an independent creator, publisher and distributor of digital games – with a vision to become one of Europe’s leading indie game creators and publishers. Stillfront operates through five near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, and Simutronics in St Louis, Missouri. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and South America. Shares of the Company are traded on Nasdaq First North Stockholm with ticker SF. Avanza Bank (Telephone +46-8-40942120) is the Company’s Certified Adviser. For further information, please visit

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 a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game, developed by Simutronics.


NOTE: A presentation of the Interim Report is available on the Stillfront website:


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 08.45 CEST on August 26, 2016.


[1] Number of shares before dilution includes shares issued as consideration to the seller of Bytro Labs GmBH and the seller of Simutronics Corp. These share were not registered by the Swedish Corporate Registry at the end of the interim period.