Starbreeze AB (publ) Interim report Q1 2018
Today at 10.00 am CET, Starbreeze CEO Bo Andersson Klint and CFO Sebastian Ahlskog will host a live stream and present the report on Starbreeze Twitch channel: https://www.twitch.tv/starbreeze
First quarter 2018
- As of the first quarter of 2018, Starbreeze presents the income statement classified by function.
- Net sales increased by 92 percent to SEK 110.1 million (57.3).
- PAYDAY generated SEK 25.1 million (24.1) and Dead by Daylight accounted for SEK 62.0 million (20.9) of net sales.
- EBITDA amounted to SEK 48.8 million (-35.3).
- Depreciation, amortization and impairments totaled SEK 42.6 million (15.5), including an impairment of discontinued publishing projects by SEK 6.3 million.
- The loss before tax amounted to SEK -6.4 million (-56.3).
- Basic and diluted earnings per share were SEK -0.02 (-0.18).
- Cash and cash equivalents at the end of the period amounted to SEK 295.2 million (516.9).
- A directed issue of new shares to Swedish and international investors raised approximately SEK 238 million before transaction costs.
- The publishing rights to Dead by Daylight were sold for USD 16 million.
- A new publishing agreement was made for the 10 Crowns game project with an investment of USD 7.7 million.
After the end of the period
- Oversubscribed rights issue raised approximately SEK 152 million before transaction costs.
- Joint venture StarVR Corporation listed on the Taipei Exchange Emerging Market board in Taiwan.
CEO Bo Andersson Klint remarks on the report:
Net sales rose by 92 percent compared to the first quarter of last year. At SEK 110 million, this is our best Q1 ever in terms of revenue, even though our major game releases are ahead of us. The publishing title Dead by Daylight and our own PAYDAY 2 are still selling very well and we have improved EBITDA by a full SEK 84 million, from SEK -35 million last year to SEK 49 million this year. The Dead by Daylight deal is driving much of the improvement and we can see that the positive effect will continue until we have received the full consideration of USD 16 million.
For more information, please contact:
Ann Charlotte Svensson, Head of Investor Relations and Corporate Communications
Tel: +46(0)8-209 208, email: email@example.com
Starbreeze AB is required to disclose this information under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact person for publication on 9 May 2018 at 08:00 CET.
Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, Barcelona and Brussels, Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games, Publishing and VR Tech & Operations. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com