PRESS RELEASE Nov 22, 2016
Interim Report January-September 2016
STILLFRONT GROUP AB (PUBL)
The Interim Period January – September 2016
- Revenues amounted to 70.0 MSEK (corresponding period 2015: 38.0 MSEK), which is an increase of 85% compared to the corresponding period 2015.
- EBITDA excluding expensed investments amounted to 28.1 MSEK (8.6 MSEK), which is an increase of 269%. EBITDA including expensed investments amounted to 5.7 MSEK (2.6 MSEK).
- Profit/loss before tax was -1.3 MSEK (-3.2 MSEK), which is an improvement of 1.9 MSEK. Profit/loss after tax was -3.9 MSEK (-4.0 MSEK), an improvement of 0.1 MSEK.
- Earnings per share before dilution amounted to -0.73 SEK (-1.31 SEK). Earnings per share after dilution amounted to -0.72 SEK (-1.27 SEK).
- As of September 30 cash and cash equivalents amounted to 56.8 MSEK (6.1 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.
- 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.
- Bytro launched New World Empires, a free-to-play game in the Grand Strategy Games genre.
- Siege:Titan Wars, a game developed by Simutronics, was Soft Launched in cooperation with Tilting Point after the end of the interim period.
The Quarter July – September 2016
- Net revenues amounted to 21.6 MSEK (corresponding period 2015: 14.3 MSEK), which is an increase of 42% compared to the corresponding period 2015.
- EBITDA excluding expensed investments amounted to 7.8 MSEK (3.6 MSEK), which is an increase of 117%. EBITDA including expensed investments amounted to -3.8 MSEK (1.3 MSEK).
- Profit/loss before tax was -7.5 MSEK (2.5 MSEK). Profit/loss after tax was -6.7 MSEK (-1.1 MSEK).
- Earnings per share before dilution amounted to -1.20 SEK (-0.36 SEK). Earnings per share after dilution amounted to -1.18 SEK (-0.36 SEK).
Stable High Growth and Margins – With Low Risk
“I am very happy about the third quarter. We achieve continued strong growth with high margins, even though the third quarter normally is Stillfront’s weakest by seasonality. We have also had good progress in our investments for future growth, profitability and stability.
Stillfront’s revenues increased by 85% as compared to the first nine months of 2015. The profitability is still very strong and our prime profitability metric, EBITDA excluding expensed investments, amounted to 28.1 MSEK, corresponding to a profit margin of 41%”. says Jörgen Larsson, CEO.
Key figures, The Group
|Growth in revenues||42%||85%|
|EBITDA excl investments||7,8||3,6||28,1||8,6||12.9|
|EBITDA margin excl investments||37,2%||24,3%||40,6%||23,1%||22.6%|
|EBITDA incl investments||-3,8||1,3||5,7||2,6||4.0|
|EBITDA margin incl investments||Neg||9,1%||8,3%||6,9%||7.1%|
|Profit/loss before tax||-7,5||-0,7||-1,3||-3,2||-4.5|
For further information, please contact:
Jörgen Larsson, CEO
Sten Wranne, CFO
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 www.stillfront.com.
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: http://www.stillfront.com/site/investor-relations/financial-reports/
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 November 22, 2016.