FINANCIAL HIGHLIGHTS Q3
- Net revenue of 1,311 (1,027) MSEK, an increase of 28 percent compared to the third quarter of 2020, of which -11 (19) percent was organic
- EBIT of 243 (306) MSEK, a decrease of 21 percent
- Adjusted EBIT of 433 (419) MSEK, an increase of 3 percent. Adjusted EBIT margin of 33 (41) percent
- Items affecting comparability impacting EBIT amounted to -20 (-18) MSEK, mainly driven by costs related to the acquisition of Jawaker. Amortization of PPA-items amounted to -170 (-95) MSEK
- EBITDA of 499 (454) MSEK, an increase of 10 percent
- Financial net of -55 (-48) MSEK
- Net result of 129 (154) MSEK
- Net result per share undiluted of 0.35 (0.45) SEK. Net result per share diluted of 0.35 (0.45) SEK
- Net debt of 2,645 (1,225) MSEK and adjusted leverage ratio, pro forma of 1.2x (0.7x)
- Cash position of 1,171 MSEK and 3,449 MSEK of undrawn credit facilities
INDICATIVE GUIDANCE FOR Q4 2021
- Net revenue 1,350-1,500 MSEK
- Adjusted EBIT 425-475 MSEK
“Stillfront’s net revenues amounted to 1,311 MSEK, up by 28 percent compared to the third quarter last year, paired with an adjusted EBIT margin of 33%. We continue to grow our business with high margins and strong cash flows. In 2021, we have continued to invest in our underlying operations with a special focus on increasing the level of collaboration between our studios, including new game development projects. We continue to strengthen and expand our growing games portfolio and we are working hard in backing all our studios to achieve their full potential. The past six months have been challenging, with our studios facing comparison figures affected by the strong inflow of new users during the pandemic as well as changing marketing conditions due to the IDFA changes imposed by Apple on iOS devices. Both factors are transitory, and we remain confident in our strategy and in our ability to benefit from the positive underlying market trends in our industry and to generate strong shareholder value.”
Jörgen Larsson, CEO, Stillfront
KEY FIGURES
| 2021 | 2020 | 2021 | 2020 | Last 12 months |
2020 | |
| MSEK | Jul-Sep | Jul-Sep | Jan-Sep | Jan-Sep | Jan-Dec | |
| Bookings | 1,304 | 986 | 3,994 | 2,880 | 5,078 | 3,964 |
| Deferred revenue | 7 | 41 | 19 | 31 | 15 | 27 |
| Net revenue | 1,311 | 1,027 | 4,013 | 2,910 | 5,094 | 3,991 |
| EBIT | 243 | 306 | 785 | 748 | 1 030 | 993 |
| Adjusted EBIT | 433 | 419 | 1,342 | 1,094 | 1,741 | 1,493 |
| Adjusted EBIT margin, % | 33 | 41 | 33 | 38 | 34 | 37 |
| EBITDA | 499 | 454 | 1,488 | 1,135 | 1,906 | 1,553 |
| Adjusted EBITDA | 519 | 472 | 1,568 | 1,236 | 2,028 | 1,697 |
| Adjusted EBITDA margin, % | 40 | 46 | 39 | 42 | 40 | 43 |
| Profit before tax | 187 | 258 | 613 | 611 | 801 | 799 |
| Net result | 129 | 154 | 427 | 418 | 590 | 581 |
| Number of Employees | 1,256 | 832 | 1,256 | 832 | 1,256 | 1,032 |
| Adjusted Leverage Ratio, pro forma, x | 1.2 | 0.7 | 1.2 | 0.7 | 1.2 | 0.9 |
INVITATION TO WEBCAST
Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions in a live webcast 10:00 am CET today. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q3-2021
To participate via phone, please call:
SE: +46 8 505 583 59
UK: +44 33 330 092 64
US: +1 64 672 249 57
FORWARD-LOOKING STATEMENTS
Some statements herein are forward-looking that reflect Stillfront’s current views or expectations of future financial and operational performance. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual results may differ materially from the information set forth in the forward-looking information. Such risks and uncertainties include but are not limited to general business, economic, competitive, technological, and legal uncertainties and/or risks. Forward-looking statements in this report apply only at the time of announcement of the report and are subject to change without notice. Stillfront undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, other than as required by applicable law or stock market regulations.