Bifogade filer
EG7 2023 Q1 Interim Report
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Sällanköp |
| Industri | Gaming |
January – March 2023 in Summary
- Net Revenue of SEK 571.7 (399.7) million, representing 43.0 percent growth.
- EBITDA of SEK 189.6 (85.4) million.
- Adjusted EBITDA of SEK 189.8 (106.6) million, corresponding to 78.1 percent growth and 33.2 percent margin. Minimal adjustments for non-recurring items related to acquisition-related costs for the period.
- EBIT of SEK 138.8 (33.8) million.
- Adjusted EBIT of SEK 139.0 (55.0) million.
- Profit before tax of SEK 129.2 (30.7) million.
- Earnings per share of SEK 1.00 (0.02).
- Adjusted earnings per share of SEK 1.00 (0.28).
- Adjusted EPS, excluding M&A related amortizations of SEK 1.28 (0.54).
- Cash flows from operations of SEK 170.6 (65.5) million.
- Cash balance of SEK 452.9 million with no bank debt at the group level after full repayment in Q1.
Note: Innova was divested in September 2022 and is excluded from Jan-Mar 2022 figures.
Comment from Ji Ham, Acting CEO of EG7:
We are pleased to report a great start to the year with solid Q1 results. Net Revenue for the quarter came in at SEK 571.7 (399.7) million, representing 43.0 percent growth year-over-year. Adjusted EBITDA came in at SEK 189.8 (106.6) million, increasing by 78.1 percent with a strong margin of 33.2 percent. The Group generated robust operating cash flows of SEK 170.6 (65.5) million for the period. All of the above represent all-time high figures for the Group.
Big Blue Bubble (“BBB”) delivered another great quarter with the continuing strength of My Singing Monsters (“MSM”). BBB generated SEK 218.3 (26.2) million of Net Revenue and SEK 133.1 (12.4) million of EBITDA for the period, representing 734.4 percent and 971.1 percent growth year-over-year, respectively. While December 2022 represented the peak performance level for MSM, the engagement level has sustained better than expected. We expect MSM to settle down at a higher steady state baseline engagement compared to the historical levels in 2021 prior to the step-up in its performance.
The Group ended the year in its best shape in terms of its liquidity and balance sheet quality. The revolving credit line was fully repaid during the quarter, and the quarter-ending cash balance reached SEK 452.9 million.
Net Revenue for April came in at SEK 154.6 million. Based on the trends observed so far for MSM, we expect Net Revenue of SEK 2.2 billion with EBITDA margin in the range of 23 to 25 percent for the full year 2023.