Stillfront Group AB: Stillfront provides selected preliminary financial information for the third quarter 2018
NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL
November 5, 2018
Stillfront provides selected preliminary financial information for the third quarter 2018
As previously communicated, Stillfront Group AB (publ) ("Stillfront" or the "Company") is intending to meet with Nordic bond investors between November 7 and November 9, 2018 and is now against that background releasing selected preliminary financial information for the third quarter 2018. The Company is also publishing a presentation on its website including a selection of operational data points not previously disclosed to the capital markets. The presentation is also attached to this press release.
For the period July 1 - September 30, 2018, Stillfront generated net revenues of approx. 315 MSEK (corresponding period 2017: 252 MSEK (Proforma as if Stillfront's acquisition of Goodgame Studios had been completed as of July 1, 2017.)) and adjusted EBITDA of approx. 120 MSEK (99 MSEK (Proforma)), corresponding to a revenue growth of 25% and an increase in adjusted EBITDA of 21%. At the end of the third quarter, the Company's cash position amounted to 99.6 MSEK excluding the Company's overdraft facility, corresponding to an increase during the period of 19.2 MSEK.
Stillfront is now publishing a presentation on its website https://www.stillfront.com/site/the-bond/ which includes a selection of operational figures, not previously disclosed to the capital markets, including specific growth figures for selected acquired studios and KPIs on marketing spend. The presentation is also attached to this press release. The Company is publishing the information solely for the purpose of the aforementioned investor meetings and is not intending to make similar releases on a current or ongoing basis.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jörgen Larsson, CEO
Phone: +46 703 211 800
Sten Wranne, CFO
Phone: +46 705 851 258
Stillfront is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through ten near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States, Babil Games in UAE and Jordan, eRepublik in Ireland and Romania, OFM Studios in Germany, Goodgame Studios in Germany and Imperia Online, Bulgaria. Stillfront's games are distributed globally. The main markets are Germany, the United States, France, UK and MENA. For further information, please visit www.stillfront.com.
Stillfront's portfolio includes games across multiple platforms. Unravel and Unravel Two are widely acclaimed console games developed by Coldwood in collaboration with Electronic Arts. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Siege: Titan Wars(TM) is a popular mobile game developed by Simutronics. Nida Harb III and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War: WW2 and War and Peace: Civil War are successful mobile strategy games developed and published by eRepublik Labs. Online Fussball Manager is a leading sports management game. EMPIRE and BIG FARM are major brands operated by Goodgame Studios. Imperia Online, is a MMO strategy game published on both browser and mobile platforms by Imperia Online.
Nasdaq First North Ticker Symbol: SF
Certified Adviser: FNCA, phone +46 8 528 00 399
This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.30 CET on November 5, 2018.
NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED
STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW
ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS
PRESS RELEASE WOULD BE UNLAWFUL.
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, Switzerland, South Africa or New Zealand or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or any other jurisdiction. Any securities that may be issued in connection with the transactions referred to in this announcement will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly will not be offered or sold in the United States.
This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Stillfront Group AB (publ) believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice.