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Starbreeze AB (publ) Interim report Q2 2018

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Today at 10.00 am CET, Starbreeze CEO Bo Andersson Klint and CFO Sebastian Ahlskog will host a live stream and present the report on Starbreeze Twitch channel: https://www.twitch.tv/starbreeze

Second quarter 2018   

  • Net sales up to SEK 123.5 million (122.7). 
  • PAYDAY generated SEK 31.3 million (51.4) and Dead by Daylight SEK 71.5 million (65.8) of net sales. 
  • EBITDA amounted to SEK 52.4 million (-2.7).
  • Depreciation, amortization and impairments totaled SEK 46.7 million (15.9).
  • Profit before tax amounted to SEK 26.2 million (-16.7).
  • Basic and diluted earnings per share were SEK 0.13 (-0.04).
  • Oversubscribed rights issue raised approximately SEK 152 million before transaction costs.
  • Joint venture StarVR Corporation listed on the Taipei Exchange Emerging Market board in Taiwan.
  • Sale of the publishing rights to Dead by Daylight closed.

First half 2018

  • Net sales up 30 percent to SEK 233.6 million (180.0). 
  • PAYDAY generated SEK 56.3 million (75.5) and Dead by Daylight SEK 133.5 million (86.7) of net sales. 
  • EBITDA amounted to SEK 101.2 million (-38.0).
  • Profit before tax amounted to SEK 19.8 million (-73.0).
  • Basic and diluted earnings per share were SEK 0.12 (-0.22).
  • Cash and cash equivalents at the end of the period amounted to SEK 269.2 million (384.2).

After the end of the period

  • 505 Games decided on 21 August 2018 to release the console version of OVERKILL’s The Walking Dead in February 2019.
  • Agreement with Acer to extend the convertible bond of SEK 75.5 million with a one-year repayment plan. See separate notice.

CEO Bo Andersson Klint remarks on the report:

In an all-time high, we generated sales of SEK 123.5 million in the second quarter. Even though we did not release any new products during the quarter, we matched our sales record set in Q2 2017 when we had two major game releases. Starbreeze has dramatically boosted profitability since the agreement to sell back the publishing rights to Dead by Daylight. Compared to last year, we have improved EBITDA by SEK 55.1 million, largely due to the Dead by Daylight deal.

FOR MORE INFORMATION:
Ann Charlotte Svensson
Head of Investor Relations and Corporate Communications
Tel: +46 8 202 509
ir@starbreeze.com

Starbreeze AB is required to disclose this information under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact person for publication on 21 August 2018 at 08:30 CET.

About Starbreeze

Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, San Francisco, Barcelona, Brussels, Bangalore and Dehradun, Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games, Publishing and VR Tech & Operations. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com


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