Fourth Quarter 2019 Financials
Highlights
- Tencent has launched a voluntary cash offer for all Funcom shares at NOK 17.00 per share, a 27.3% premium and NOK 1.25 more per share than Tencent paid for 29% of the shares in 2019. The offer period ends 16 March 2020 at 16:30 CET. An Offer Document describing the details is available on Funcom’s website
- Conan Exiles continues the strong ‘games as a service’ performance with the longevity of the game highlighted by the number of users growing year on year, December ‘19 being the third best average number PC player month since the January 2017 launch and revenues in 4Q19 being higher than in 4Q18
- With 2019 EBITDA margin of 46%, the company has just completed its three most profitable years to date
- Moons of Madness was released on PC, positively received, with the console version launching on 24 March 2020. A Nintendo Switch version of The Park, initially launched in 2015, was also launched in the quarter
- The game pipeline continues to be strong as we actively invest in 10 games with focus on the upcoming DUNE open world title, and the Mutant Chronicles online shooter launching after that. Further funding to support increased ambitions for the DUNE game will be secured
Words from the CEO
“The final quarter of 2019 saw the continued strength of Conan Exiles, with two DLC launches leading to a month of December that was the third best in terms of average number of PC players, proving once again that Conan Exiles still has a lot to give. It’s with this energy that we are working towards a paid expansion to release during the second half of 2020, growing the game with new content for players to explore. In addition, we will continue launching cosmetic DLCs and doing free updates to the game as we have done so far.
We also released Moons of Madness on PC for Halloween, having been positively received and being a good new entry in the Secret World IP and Funcom’s game portfolio. The console versions of the game are scheduled for release at the end of March and we feel this is a game that lends itself very well to the console gaming experience.
In terms of upcoming games, we have Conan Chop Chop getting close to its launch in 2Q 2020, having taken longer than originally planned due to the complexities of a simultaneous release on four platforms for a multiplayer game.
And finally, the most important event for shareholders has been the announcement and subsequent launch of a voluntary offer to acquire all shares in Funcom SE by Tencent Cloud Europe BV. The offer was recommended by Funcom’s Supervisory and Management boards as it was concluded that the Offer is fair to Funcom’s shareholders from a financial point of view and in the best interest of Funcom, the sustainable success of its business and clients, employees, shareholders and other stakeholders.”
Rui Casais
Chief Executive Officer
The report and presentation can be downloaded from the Company's website: https://investors.funcom.com/financial-reports/
As previously announced a presentation will be held on the Funcom channel on Twitch, www.twitch.tv/funcom at 5:00pm CET (17:00 Oslo Time) today 28 February 2020. The presentation will be held in English by Rui Casais, CEO of Funcom, and Stian Drageset, CFO. Any enquiries may be addressed to: investor@funcom.com prior to the presentation.
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Funcom SE
Badhoevedorp, the Netherlands, 28 February 2020
This information is subject to the disclosure requirements acc. to §5-12 of vphl (Norwegian Securities Trading Act)
