MindArk Interim Report Q1 2024

MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's interim report for Q1 2024 has been published.

Comment from Acting CEO, Leif Evander Andersson:

"Our financial results for the last quarter—both turnover and operating profit—did not match the figures from the same period last year. However, this discrepancy primarily stems from the first quarter of 2023 being exceptionally strong due to the launch of our 20th anniversary event, TWEN.

In early 2024, MindArk has focused on advancing AI integration across the organization. This initiative is already enhancing our operational efficiency, accelerating development, and improving gaming experiences. Additionally, our AI-driven approach to data management is paving the way for more informed strategic decisions."

Reporting period
The report covers the period January 1 – March 31, 2024 (“Q1”).

January 1 – March 31, 2024

Group figures. Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 20.7 MSEK (26.5 MSEK) 
• Work in progress amounted to 5 MSEK (7.7 MSEK) 
• Operating profit amounted to 1.1 MSEK (4.2 MSEK) 
• Profit before tax amounted to 88 TSEK (4.5 MSEK) 
• Cash & cash equivalents including short-term investments 38.3 MSEK 
• No interest-bearing liabilities
• Provision for unspent user funds 35.6 MSEK 
• Earnings per share for the period amounted to -0.07 SEK (0.11 SEK)

Significant events during Q1
Henrik Nel Jerkrot steps down as CEO in March 2024 after six years in the position. Leif Evander Andersson, who has been a member of the Board since May 2023, takes over as acting CEO.

Significant events after the end of the reporting period
In April 2024, MindArk terminated the agreement with Pareto Securities AB, the liquidity provider for MindArk’s shares. MindArk’s Board of Directors concludes that the service is no longer necessary.

Financial reports 

The Company's financial statements, including the forthcoming report, are available on the Company's website, www.mindark.se/investor-relations/financial-reports/. It is available in a Swedish and an English version.

Auditor

This financial statement has not been reviewed by the Company’s auditor.

Financial calendar

Interim report Q2, 2024 August 28, 2024

Interim report Q3, 2024 October 25, 2024

This disclosure contains information that Mindark PE AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-05-2024 08:00 CET.

For more information, please contact:

Gunilla Krogh
CFO, MindArk PE AB (publ)
gunkro@mindark.com
Tel: +46 31 607 260
MindArk PE AB (publ) 
Org. nr. 556640-4769
Masthamnsgatan 5
413 29 Gothenburg
www.mindark.com

About MindArk

MindArk PE AB (publ) (“the Company” or “MindArk”) develops and operates Entropia Universe, the world's first MMORPG (Massive Multiplayer Online Role-playing Game) with a “Real-Cash-Economy”, and Entropia Platform. Entropia Universe is a virtual universe consisting of a number of planets with different themes and activities. The software is provided globally and free of charge with the possibility to spend money in the virtual universe for anyone with access to PC and the internet. Entropia Universe consists of a digital economy where resources, materials, land, and buildings are represented as digital assets with an underlying base value. Entropia Platform is the technology platform that powers Entropia Universe. The platform is shared with partners who develop their own unique game content for their planets in Entropia Universe.