Interim Report for the Period July 1, 2021 to September 30, 2021
July – September 2021 in Summary
- Net revenue amounted to SEK 409.4 million corresponding to a growth of 409 percent compared to the same period the previous year.
- EBITDA amounted to SEK 78.3 million, EBITA amounted to SEK 64.5 million and EBIT amounted to SEK 12.0 million.
- Adjusted EBITDA amounted to SEK 88.8 million. The non-recurring cost items affecting comparability of SEK 10.5 million comprised of SEK 5.5 million of restructure related severance and expenses, SEK 2.3 million M&A and financing related expenses, and SEK 2.7 million prior period’s capitalized development costs.
- Net profit amounted to SEK -28.2 million.
- The cash balance amounted to SEK 442.2 million.
- Equity amounted to SEK 4,435.7 million.
Comment from Ji Ham, Acting CEO of EG7:
“Q3 2021 was a period of transition for EG7. After a period of extraordinary M&A driven growth, the company took necessary steps to reorganize and prepare for a transition to a sustainable organic growth strategy. With the world class portfolio of live games and the iconic IPs we have successfully acquired, the company is very well-positioned to utilize these assets for sustainable organic growth plans while we continue to aggressively seek a more tailored M&A strategy for our next phase of growth.
For Q3 2021, EG7 performed according to plan, successfully navigating the challenges posed by the reorganization and transition. Net revenue for the period was SEK 409 million, increasing by 409 % over the same period last year, primarily driven by the key acquisitions over the last 12 months. Adjusted EBITDA came in at SEK 89 million, representing a 22% margin. Both figures were in-line with the provided guidance range for the period. For Q4 2021, the company is on track, and we are reiterating our guidance.”
FOR MORE INFORMATION, PLEASE CONTACT:
Ji Ham, Acting CEO
Phone: +46 70 065 07 53
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 440+ game developers and develops its own original IP:s, as well as act as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games, Toadman Studios, Big Blue Bubble and Antimatter Games. In addition, the group's marketing department Petrol has contributed to the release of 1,500+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution departments Innova and Sold Out hold expertise in both physical and digital publishing. EG7 is headquartered in Stockholm with approximately 880 employees in 16 offices worldwide.
Nasdaq First North Growth Market Ticker Symbol: EG7
Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00
This information is information that Enad Global 7 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, on November 25, 2021 at 6:00am CET.