Preliminary revenue July – September 2017
Based on the information available for the period July-September 2017, G5 forecasts quarterly revenue of approximately SEK 265 M, which corresponds to achieving 110 per cent revenue growth versus comparable figures for the same period 2016.
For the interim period January-September 2017, G5 forecasts revenue of approximately SEK 776 M, which corresponds to achieving 134 per cent revenue growth versus comparable figures for the same period 2016.
Vlad Suglobov, G5´s CEO, comments: “We do not normally comment on currency exchange rates, but it is a special situation in this quarter. Since the beginning of the year SEK has strengthened against two currencies responsible for approximately 70% of the group’s revenue: USD and JPY. This affected our rate of growth negatively in the first half of the year, but it was still very high in SEK terms because of extremely strong sequential growth. There was further sharp strengthening of SEK against USD and JPY during Q3. At the same time, our sequential growth has slowed down to more normal sustainable levels: 6% in USD terms from Q2 to Q3, according to our internal revenue reports. While healthy, this rate of sequential growth was not enough to compensate for the strengthening of SEK in this particular quarter, and as a result our sequential quarterly numbers show decline, despite the fact that the company continues to grow fundamentally.”
More information about the Company can be found on www.g5e.se/corporate.
For further information, please contact:
Vlad Suglobov, CEO, investor@g5e.com
Stefan Wikstrand, CFO, +46 76 00 11 115
This information is information that G5 Entertainment AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on October 4, 2017.
About G5 Entertainment
G5 Entertainment AB (publ) (G5) is a developer and publisher of high quality free-to-play mobile games for iOS, Android, Kindle Fire, and Windows-powered devices. G5 develops and publishes games that are family-friendly, easy to learn, and targeted at the widest audience of experienced and novice players. G5’s portfolio includes a number of popular games like Mahjong Journey®, Survivors: the Quest®, Hidden City®, Twin Moons Society®, Supermarket Mania® and The Secret Society®. G5 Entertainment AB (publ) is listed on Nasdaq Stockholm since 2014.