MindArk Interim Report Q3 2023
MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's interim report for Q3 2023 has been published.
Reporting period
The report covers the period July 1 – September 30, 2023 and January 1 - September 30, 2023.
July 1 – September 30, 2023
Group figures. Comparative figures in parentheses refer to the same period last year.
- Turnover amounted to 22.9 MSEK (21.4 MSEK)
- Capitalized work amounted to 6.1 MSEK (7 MSEK)
- Operating profit amounted to 1.8 MSEK (3.4 MSEK)
- Profit before tax amounted to 1.7 MSEK (-1.8 MSEK)
- Cash & cash equivalents including short-term investments 27.7 MSEK
- No interest-bearing liabilities
- Provision for unspent user funds 50.4 MSEK
- Earnings per share for the period amounted to 0.07 SEK (-0.05 SEK)
January 1 – September 30, 2023
Group figures. Comparative figures in parentheses refer to the same period last year.
- Turnover amounted to 75.7 MSEK (63.7 MSEK)
- Capitalized work amounted to 21.4 MSEK (19.6 MSEK)
- Impact of restructuring costs on profit - 14 MSEK* (0 MSEK)
- Operating profit amounted to -5.5 MSEK (11 MSEK)
- Profit before tax amounted to -7.5 MSEK (-0.7 MSEK)
- Cash & cash equivalents including short-term investments 27.7 MSEK
- No interest-bearing liabilities
- Provision for unspent user funds 50.4 MSEK
- Earnings per share for the period amounted to -0.29 SEK (-0.02 SEK)
*In the second quarter, approximately SEK 14 million has been reserved for restructuring costs, which mainly refers to costs for salary and severance pay in connection with the reorganization. This 14 million SEK is thus a non-recurring cost.
Significant events during Q3
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MindArk announced changes in the management team as part of the reorganization. Magnus Eriksson resigned as COO.
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MindArk’s previously communicated reorganization and AI implementation is highlighted in several nationwide news stories.
Significant events after the end of the reporting period
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The company announces a new strategy for the development of Entropia Universe in Unreal Engine 5.
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As a result of the reorganization, Mats Kling has changed his role from CTO (Chief Technology Officer) to CIO (Chief Information Officer). Magnus Ryme is appointed CTO (Chief Technology Officer) and Terrence Verlander is appointed as CAIO (Chief Artificial Intelligence Officer).
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.
Financial calendar
Interim report Q4 2023 February 28, 2024
Interim report Q1 2024 May 28, 2024
This information is such that MindArk PE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person indicated, at 08:00 CET on November 28, 2023.
Contact person
Henrik Nel Jerkrot
CEO, MindArk PE AB (publ)
Tel: 031 607 260
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.
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