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Stillfront Group’s Interim Report July – September 2020

Highlights Q3

  • Net revenue of 1,027 (517) MSEK, an increase of 99 percent compared to the third quarter of 2019
  • Adjusted EBITDA (EBITDA excluding items affecting comparability) of 472 (208) MSEK, an increase of 127 percent
  • Adjusted EBIT of 419 (175) MSEK, an increase of 140 percent, Adjusted EBIT margin of 41 (34) percent
  • Items affecting comparability impacting EBIT amounted to -18 (-3) MSEK, mainly driven by transaction costs related to the acquisition of Nanobit. Amortization of PPA-items amounted to -95 (-36) MSEK
  • EBIT of 306 (136) MSEK, an increase of 125 percent
  • Financial net of -48 (-3) MSEK
  • Net result of 154 (111) MSEK
  • Net result per share undiluted of 4.50 (4.12) SEK. Net result per share diluted of 4.47 (4.11) SEK
  • Net debt of 1,225 (851) MSEK and adjusted leverage ratio, pro forma of 0.7 (0.9)x
  • Cash position of 1,052 MSEK and 926 MSEK of undrawn long-term credit facilities

Quote from the CEO

“Our business momentum remained strong in the third quarter and we continue to deliver high growth and profitability across the company. Group net revenues increased by 99 percent YoY to 1,027 MSEK in the third quarter, paired with a record high adjusted EBIT margin of 41 percent and continued strong cash generation. The record high profitability in the quarter was a result of well-executed live operations from across the group. Revenues in the third quarter were negatively impacted by FX headwinds as well as the usual seasonality effects. Our balance sheet remains strong and we ended the quarter with a cash position of 1,052 MSEK. We continue to identify and assess a number of exciting opportunities. With our strong financial position, we are well positioned to continue to execute on our growth strategy and build the leading free-to-play powerhouse.”

Jörgen Larsson, CEO, Stillfront

Invitation to webcast

Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the interim report in a live webcast at 10:00 a.m. CET today. The conference will be held in English.

To participate via webcast, please visit:

To participate via phone, please call:

SE: +46 8 566 426 92
UK: +44 333 300 90 34
US: +1 833 249 840 3

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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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