INSIDE INFORMATION: Stillfront Group AB (publ) (“Stillfront”) is hereby announcing an update regarding its business performance for the fourth quarter 2021. All financial information in this press release is of a preliminary nature and the information has not been audited or reviewed by the company’s auditor. The purpose of the announcement is to provide the market and the shareholders with updated financial information in connection with Stillfront’s acquisition of 6waves and the resolution on the rights issue of approximately SEK 2.0 billion, which was announced earlier today (please refer to the separate press release regarding the acquisition of 6waves and the rights issue, available on www.stillfront.com)
PRELIMINARY FINANCIAL INFORMATION FOR Q4 2021:
- Net revenue of between SEK 1,430-1,450 (1,080) million, an increase of between 32 percent and 34 percent compared to the fourth quarter of 2020
- Adjusted EBIT of between SEK 450-465 (399) million, an increase of between 13 percent and 17 percent compared to the fourth quarter of 2020
- The midpoint in the updated Q4 guidance implies full-year 2021 net revenue of SEK 5,453 million and adjusted EBIT of SEK 1,800 million
- The midpoint in the updated Q4 guidance implies an adjusted EBIT margin of 32 (37) percent
“We continued to deliver according to plan in the fourth quarter. The marketing landscape continued to improve, and our user acquisition spend reached all-time high levels in the quarter with sustained high returns. Several recently acquired studios performed well and gained additional momentum towards the latter part of the quarter. For example, Jawaker, which was consolidated from 1 October 2021, had a very strong first quarter as part of Stillfront and has outperformed our expectations. In addition to the strong performance from our acquired studios, we are pleased that Stillfront as a group grew organically in December compared to December last year, with contribution from many of our studios and through a number of exciting new game launches.”
Jörgen Larsson, CEO, Stillfront
Stillfront’s interim financial results for Q4 2021 will be reported in the upcoming year-end report for 2021 to be published on 16 February 2022.
For more information on the acquisition of 6waves and the rights issue, please see the separate press release regarding the acquisition of 6waves and the rights issue on the company’s website www.stillfront.com
The financial information in this press release has been compiled and prepared on a basis which is comparable with Stillfront’s historical financial information and is in all material respect consistent with the accounting policies applied by Stillfront in the preparation of its annual report for the financial year 2020. The financial information regarding the fourth quarter 2021 and the full-year 2021 is of a preliminary nature. The information has not been audited or reviewed by the company’s auditors.