Interim Report 2020 Everysport Media Group AB (publ.)

Negative impact due to COVID-19, but improvements seen when sports returns

This is a translated version of the Swedish original, in case of deviations is the Swedish version considered to be the one to apply.

This information is such information that Everysport Media Group AB (publ.) Is required to publish in accordance with the EU Market Abuse Regulation. The information was provided, through the agency of the above contact person,for publication on July 23rd, 2020.

Summary of the second quarter 2020

  • Net sales: 17,8 mkr (23,0 mkr)
  • EBITDA: −0,8 mkr (2,5 mkr)
  • Profit after tax: −2,2 mkr (1,6 mkr)
  • Earnings per share: −0,49 kr (0,01 kr)
  • Cashflow from operating activities: 6,2 mkr (7,8 mkr)

Summary of the first half year 2020

  • Net sales: 38,6 mkr (46,6 mkr)
  • EBITDA: 0,0 mkr (4,8 mkr)
  • Profit after tax: −2,6 mkr (3,0 mkr)
  • Earnings per share: −0,57 kr (−0,04 kr)
  • Cashflow from operating activities: 7,6 mkr (2,2 mkr)

CEO, Hannes Andersson, comments:

ESMG has been strongly affected by COVID-19 and, as expected, sales decreased during the second quarter. Revenues in the B2B segment have been affected the most, with advertising revenues being hit the hardest. However, our shift towards consumer products continued where we also saw growth in the B2C segment of 12% compared to previous year.

Despite the circumstances, we have worked hard to be able to deliver high-quality products to our customers, in a world that has been lacking sporting events. Towards the end of the second quarter, a number of leagues and events resumed, and we suspended the short-term work allowance program within the group so that all of our staff is back working as normal. During the second half of June, we saw improvements in revenue levels, both for our B2B and our B2C segment, and we are now taking the increased level of activity into the second half of the year.

In times when the sports world has been shut down and consumer behavior has changed, digitalization in media consumption has taken great strides forward. The demand for high-quality content in the media sector is greater than ever and the willingness to pay has followed. Here, ESMG has taken a clear position in the sports segment. Our Plus and Premium services offer unique content and we continue to invest in its packaging. An example is EliteProspects Premium, which now also offers LinkedIn-like functionality for hockey players globally, which we launched in June and immediately generated an increase level of new subscribers.

Our cash position is strong, and we are well positioned to continue our journey during the second half of the year. With a maintained fast pace in development, we will launch new products during the fall and continue our strategy to achieve a growing B2C segment.


We now see that the sports world, with Sweden included, is gradually beginning to return to everyday life, but COVID-19 will most likely affect both societies and companies for a long time to come. ESMG is dependent on sporting events being held to deliver revenue levels in line with pre-pandemic levels. As there is still uncertainty about how and when events will be held in many countries, we choose not to give a forecast for the second half of 2020.

Significant events during and after the end of the period

The Annual General Meeting was held on May 26, 2020. In accordance with the Nomination Committee's proposal, Michael Hansen, Johan Ejermark, Göran af Klercker, Paul Fischbein, Carl Gyllfors and Charlotte Gustafsson were re-elected as ordinary Board members. Paul Fischbein was re-elected Chairman of the Board.

On June 6th, EP Connect was launched, a new matchmaking service in the hockey industry. Through EP Connect, active players and leaders now have the opportunity to strengthen their online profiles and enable matchmaking in a completely new way. The service is an important part of ESMG's strategy to expand the Group's range of subscription services within sports media.

Net Sales, earnings and financial position during the period

Net Sales

Net sales for the second quarter amounted to SEK 18 million (SEK 23 million). A decrease of 22,5 % compared with the same quarter last year.

The outbreak of Covid-19 had a major impact on sales during the latter part of the quarter, which resulted in a decrease in sales compared to the same quarter last year.


The Covid-19 pandemic has had the strongest negative impact on sales in the B2B segment. In the B2B segment, it was primarily the advertising business that suffered as the demand for advertisement products decreased during the quarter when corporate customers had to cut down on marketing campaigns. However, Everysport Media Group have a number of assignments based on longer production agreements which have not been affected to any great extent. For example within Swedish trotting, which is one of the sports that has continued to be practiced despite the pandemic.


Although sales for the Group as a whole have decreased compared to the same period last year, there has been an increase in the B2C segment of just over 12%. Although sales in the B2C segment have also had a negative impact because of Covid-19 during the second quarter, mainly within gaming betting related products,. However, we see a strong recovery in gaming-related B2C revenue since sporting events resumed. The increase in B2C revenue compared to the same period last year is the result of a long-term effort to find new revenue within subscription income, unit purchase income and other income linked directly to consumers. The transfer of revenue from the B2B to B2C segments is important from a long-term strategic perspective as they are more stable over time and have a better margin.


EBITDA for the second quarter amounted to SEK −1 million (SEK 2,5 million).

The decrease in EBITDA compared with the same quarter last year is directly linked to the impact Covid-19 had on sales during the second quarter. However, the Group has been able to quickly restructure its operations and adjust costs to reasonable levels in relation to sales, without for that matter losing the opportunity to be able to resume more ordinary operations when sporting events were restarted. The Group has, among other things, used government support measures such as short-term layoffs for staff from the end of March to mid-June. Since mid-June, all staff have been back to regular working hours and all operations have resumed.

EBIT for the second quarter amounted to SEK −1,9million (SEK 1,8million).

EBIT during the first quarter of 2020 is affected by depreciation by SEK -0.9 million (SEK -0.7 million). The increase in depreciation is linked to the investments made during the previous year.Capitalized work on own account during the quarter amounts to SEK 0 mkr (0,9 mkr).
Financial position

At the end of the period, Everysport Media Group AB (publ.) has equity of SEK 19,5 million (SEK 19,5 million) and an equity ratio of 34% (35%)

Cash and cash equivalents at the end of the period were SEK 8,2 million (SEK 3,7 million).

Cash flow during the second quarter was affected, among other things, by the company being granted a deferral of tax payments and support for short-term layoffs. According to the regulations, the support measures must be repaid to the Swedish authorities within one year.

In addition to cash and cash equivalents, Everysport Media Group has access to additional banking facilities that strengthen the financial position

Share and shareholders

As of the date on 30th of June, 2020, 4 542 496 shares were issued. All shares have equal rights to the company's profit and assets.

Decision has, through the extraordinary general meeting of 2018-01-16, been adopted to adopt an incentive program for the Board of Directors and an incentive program for the CEO and other senior executives and certain employees of Everysport Media Group (publ.). The incentive programs entail an issue of a maximum of 6,754,847 warrants. 25 warrants entitles the holder to convert for one new share in the company at a price of SEK 14,25 per share. The exercise of the warrants shall be possible during the period from January 13, 2020 to June 13, 2020.

As the market share price was lower than the strike price for using the warrants at the last day for conversion, no participants in the incentive program has chosen to convert for new shares and the incentive program is now ended.

At the end of the quarter, Everysport Media Group AB had 773 (877) shareholders.


The average number of full time equivalents during the quarter was 47 (63).
The large reduction in the workforce compared with the same quarter last year is linked to short-term layoffs of staff used until mid-June. A large part of the workforce has worked 40% until then. From mid- June, all employees work regular working hours.

Accounting principles

This interim report includes the Swedish parent company Everysport Media Group AB (publ), corporate ID 556739-8143, and its subsidiaries. The Group’s main operations are divided into Content and Media. Within Content the Group is a leasing provider of results data, game tips and sports tips. Within Media the Group owns and runs digital sites like, EliteProspects, Svenska Fans, Fotboll Direkt, HockeySverige, Travtjänsten and Sporttjänsten which acts as engines for the products offered within the Group.

The parent company is limited liability company registered in Stockholm, Sweden. The adress for the headquarters is Gamla Brogatan 11, 111 20 Stockholm.

The consolidated accounts for Everysport Media Group AB (ESMG) have been prepared in accordance with IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and RFR 1 Complementary Accounting Rules for Groups . This is the Groups first financial report in accordance with the International Financial Reporting Standards (IFRS) with transition date as 1st of January 2019. The Group has previously applied BFNAR 2012: 1 Annual Report and Consolidated Accounts (K3). The transition to IFRS has been made in accordance with IFRS 1 The first time IFRS is applied and described in more detail in the appendix Transition to IFRS. The Group's complete accounting principles are described in the Appendix Transition to IFRS, where full accounting principles and transition tables are found.The interim report regarding the parent company has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities issued by the Swedish Financial Reporting Board. The parent company has previously applied the Annual Accounts Act and BFNAR 2012: 1 Annual Report and Consolidated Accounts (K3) in the preparation of financial reports. As of these financial reports, the Parent Company, as a result of the Group's transition to IFRS, applies RFR 2 Accounting for legal entities. See separate paragraph for a description of the Parent Company's accounting principles.


This report has not been reviewed by auditors.

Further reporting dates

The quarterly report for the period July - September 2020 will be published on the 29th of October 2020. The quarterly reports for Everysport Media Group are published in the company’s website

Interim Report July - Sep 2020: 29th of October

Year end report 2020: 18th of February 2021

Stockholm 2020-07-23

Hannes Andersson


For further information, please contact:

Hannes Andersson
Phone: +467 07 36 56 25

Everysport Media Group (publ.) (ESMG) is a Swedish publicly listed media group with roots in sports and gaming. Our strategy is based on two main components: Content and Media. Within Content, ESMG is a leading provider of performance data, betting tips and sports news. Some of our clients are gaming operators, sports associations and media organizations. Our media portfolio garners over 2 million interactive viewers across multiple platforms, sites, and networks within the industry.