Bifogade filer
YEAR-END AND Q4 REPORT 2022
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Sällanköp |
| Industri | Gaming |
October – December 2022 in Summary
- Net Revenue in Q4 amounted to SEK 559.0 (499.0) million, representing 12.0 percent growth.
- EBITDA of SEK 177.6 (426.1) million.
- Adjusted EBITDA of SEK 178.9 (91.8) million, corresponding to 94.8 percent growth and 32.0 percent margin. The adjustment for non-recurring items affecting EBITDA in Q4 was SEK -1.3 million of acquisition related costs.
- EBIT of SEK -184.2 (84.5) million.
- Adjusted EBIT was SEK 130.4 (26.5) million, adjusted for non-recurring items mentioned above and write-downs of game related capitalized R&D of SEK 308.6 million. Along with the group’s decision to prioritize the WFH business, the first party games with new unproven IPs or subscale IPs with limited audience are no longer part of the group´s core strategy.
- Profit before tax of SEK -180.9 (57.9) million.
- Earnings per share of SEK -1.01 (1.27).
- Adjusted earnings per share of 1.80 (0.59) SEK.
- Cash flow from operations of SEK 114.3 (79.0) million, and cashflow from investing activities amounted to SEK -46.6 (-71.2) million.
- SEK 300 million of credit facilities was repaid in Q4 and the remaining part was repaid in February 2023.
- Year-end cash balance of SEK 407.8 million and the net cash position of SEK 303.7 million.
Note: Innova was divested in September 2022 and is excluded from all actual and comparable figures unless otherwise stated. For further details please see note 5.
Comment from Ji Ham, Acting CEO of EG7:
For Q4, Net Revenue came in at SEK 559.0 (499.0) million, representing 12.0 percent growth YoY. Adjusted EBITDA nearly doubled from the prior year to SEK 178.9 (91.8) million with solid margin of 32.0 percent. The strength in profitability resulted in SEK 114.3 (79.0) million of operating cash flows.
For the full year 2022, EG7 delivered SEK 1,865.9 (1,467.9) million in Net Revenue corresponding to a solid 27.1 percent growth YoY and 6.2 percent organic growth in local currencies. Adjusted EBITDA came in at SEK 482.8 (324.8) million, representing a solid growth rate of 48.6 percent YoY. The operating cash flows grew by 57.1 percent YoY to SEK 374.6 (238.5) million.
Headlining the group’s performance for the quarter was Big Blue Bubble’s My Singing Monsters. My Singing Monsters had a “monster” quarter literally, and the title reached the top 10 spot in over 100 countries in the App Store games category and reached the number one spot in more than 15 countries. With this viral uptick in popularity, Big Blue Bubble delivered a record performance in Q4, contributing Net Revenue and Adjusted EBITDA of SEK 192.7 (27.3) million and SEK 116.5 (16.3) million, respectively. The growth was exponential with both metrics topping 600 percent growth YoY.
January 2023 results came in strong, reflecting the continuing momentum from My Singing Monsters. However, at this time, we are refraining from providing guidance until we evaluate additional data over a longer sampling period to better estimate the new baseline level of performance for the title going forward.