INTERIM REPORT 1 January – 30 June, 2018

ROLLING 12 MONTHS 01/07/2017 – 30/06/2018                    

  • Pro rata – sales: SEK 882.7 million (695.2)
  • Net sales: SEK 1,060.1 million (981.7)
  • Operating profit before depreciations (EBITDA): SEK 42.1 million (17.9)
  • Operating profit/loss EBIT SEK 25.2 million (1.6)
  • Operating margin, pro rata: 2.9% (0.2%)
  • Operating margin: 2.4% (0.2%)
  • Earnings per share: SEK 1.10 (0.01)

SECOND QUARTER 2018

  • Pro rata – sales: SEK 237.9 million (163.8)
  • Net sales: SEK 262.5 million (199.8)
  • Operating loss before depreciations (EBITDA): SEK -13.9 million (-8.8)
  • Operating profit/loss EBIT SEK -18.8 million (-12.3)
  • Operating margin, pro rata: -7.9% (-7.5%)
  • Operating margin: -7.1 % (-6.2%)
  • Earnings per share: SEK -1.20 (-0.71)

A WORD FROM THE CEO 

An application to Nasdaq Stockholm submitted and yet another acquisition completed. 

Moment Group is on its way to take the next step in establishing itself as the leading operator in the experience industry. In May, the Group submitted an application for listing on Nasdaq Stockholm and also carried out a start-up meeting with Nasdaq and the stock exchange auditor during the quarter. The main reasons were our growth ambitions in a burgeoning industry, and the fact that the Group has grown considerably larger since last year. On a rolling 12-month basis, sales (pro rata) have increased by 27 per cent. The second quarter also showed a high rate of growth totalling 45 per cent and reaching pro rata sales of SEK 237.9 million (163.8). The additional sales are mainly from Hansen in the Event businesses area, in Venues from the inauguration of Kungsportshuset in Gothenburg and the acquisition of Ballbreaker. In all during the quarter, 38 per cent constitutes organic growth, and 7 per cent acquired growth. 

However, at the EBITDA level, earnings softened by SEK 5 million compared with the second quarter during the previous year. Trends in Venues are holding earnings back, where occupancy rates were worse due to extremely good weather in Sweden since the end of April, but mainly because the start-up at Kungsportshuset is also charged to this quarter. Internally, the Wallmans Group is focusing keenly on bringing Kungsportshuset into full operation during the autumn for it to gradually begin making positive contributions to the Group's revenue generation. Adjusted for the operating loss during the Kungsportshuset start-up period, the second quarter shows instead a marginal improvement compared to the previous year. On a rolling 12-month basis, the Group's EBITDA amounts to SEK 42.1 million (17.9).

The implementation of our growth strategy continues, and in June we acquired the STAR Bowling activity centre in Gothenburg. STAR has annual sales of SEK 50 million and an operating margin of around 22 per cent (2017). The purchase sum amounted to SEK 50 million, which corresponds to an EBITDA multiple of 4.5. STAR will operate as an independent company within the Venues business area as an affiliate to Ballbreaker.

During the autumn, a new business area will be established – Immersive Experiences – with the ambition of reaching new target groups in the experience concept that differ from those in the Group’s existing portfolio. The focus will be on those parts of the industry where digitalization drives new consumption patterns and the borders between the real and virtual worlds are erased. Thus the initiative has a distinct future focus. The business will operate under the Moment Group brand and will consist of a portfolio of companies/brands aimed at both the consumer and commercial markets.

It’s going to be an exciting autumn, but before that I wish everyone a great summer!

Gothenburg 20 July 2018

Pelle Mattisson
CEO/Group CEO
pelle.mattisson@momentgroup.com 

+46 705 80 06 57

Moment Group AB discloses the information provided herein pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication by the contact persons above on 20 July 2018 at around 08:30 CET.  

Moment Group is one of the leading players within the Nordic experience industry The Group creates experiences for more than 2 million guests every year. Moment Group operations are conducted in three business areas from offices in Gothenburg, Stockholm, Copenhagen, Oslo, Hamburg, Falkenberg and Växjö. The head office is located in Gothenburg. Moment Group is listed on First North Premier with FNCA Sweden as the Certified Adviser and has bonds listed on the Corporate Bond List of Nasdaq Stockholm.

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