Year-end report 2022
MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's year-end report for 2022 and interim report for the fourth quarter of 2022 have now been published.
Comment from CEO Henrik Nel Jerkrot:
“It is with great pleasure that with our first financial report as a listed company, we have had a record quarter in terms of net revenue. During the quarter, we have been working extensively on the graphics engine transition to Unreal Engine 5. However, we have been careful not to let this affect the user experience or content creation in the current Entropia Universe. It has been a success as we have had an increase in user activity between Q4 2022 and Q4 2021 of approximately 7%.”
Reporting period
The report covers the period 1 January - 31 December 2022 and 1 October - 31 December 2022.
1 OCTOBER - 31 DECEMBER 2022
Refers to group. Comparative figures in brackets refer to the same period last year.
- Turnover amounted to SEK 29.1 MSEK (20.3 MSEK).
- Work in progress amounted to 6.9 MSEK (8.3 MSEK).
- Operating profit amounted to 10.4 MSEK (8.3 MSEK).
- Profit before appropriations and tax amounted to 12.8 MSEK (6.7 MSEK).
- Cash & cash equivalents including short-term investments 41.6 MSEK (56.4 MSEK).
- No interest-bearing liabilities.
- Provision for unspent user funds 47.1 MSEK (39.5 MSEK).
- Insurance reimbursement fixed at 4.75 MSEK.
1 JANUARY - 31 DECEMBER 2022
Refers to group. Comparative figures in brackets refer to the same period last year.
- Turnover amounted to 92.8 MSEK (81.2 MSEK).
- Work in progress amounted to 26.5 MSEK (16.1 MSEK).
- Operating profit amounted to 21.4 MSEK (21.3 MSEK).
- Profit before appropriations and tax amounted to 12 MSEK (18.5 MSEK).
- Earnings per share before reverse split SEK 0.03/share, after reverse split in
- January 2023 SEK 0.15/share. Adjusted earnings per share before reverse split
- SEK 0.05/share, after reverse split in January 2023 SEK 0.24/share.
- The Board of Directors proposes that no dividend is to be paid and that the profit for the year be carried forward.
Significant events during the reporting period
- Record sales of 29.1 MSEK for the period.
- Long-running dispute settled and compensation from insurance company determined.
- The Board was expanded with a fourth member, Magnus Götenfelt, former partner at PwC.
Significant events after the end of the reporting period
- Insurance compensation paid January 2023.
- The company carried out a 1:5 reverse split in January 2023, resulting in the number of outstanding shares changing from 157,623,125 to 31,524,625.
- Listing on the Spotlight Stock Market on January 27, 2023.
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.
Annual General Meeting 2023
The Annual Report 2022 including the auditor's report will be available on the Company's website, www.mindark.se/investor-relations/financial-reports/ and at the Company's head office, Masthamnsgatan 5, 413 27 Gothenburg, from April 20, 2023 onwards.
Financial calender
The tentative dates for the publication of the interim reports for quarter 1 and quarter 2 have changed from the dates stated in previous communications.
Interim report quarter 1 2023 2023-05-25
Interim report quarter 2 2023 2023-08-28
Annual General Meeting 2023-05-05
Annual report 2023-04-20
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 2023-02-28.
For more information, please contact:
Gunilla Krogh
CFO, MindArk PE AB (publ)
Tel: +46 31 607 260
MindArk PE AB (publ)
Org. nr. 556640-4769
Masthamnsgatan 5
413 27 Gothenburg
About MindArk
MindArk PE AB (publ) 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 the internet and a PC. 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.