Stillfront Group's Interim Report January – March 2021
Highlights Q1
- Net revenue of 1,319 (691) MSEK, an increase of 91 percent compared to the first quarter of 2020, of which 9.5 (10.2) percent was organic
- EBIT of 253 (106) MSEK, an increase of 138 percent
- Adjusted EBIT of 432 (213) MSEK, an increase of 103 percent, Adjusted EBIT margin of 33 (31) percent
- Items affecting comparability impacting EBIT amounted to -35 (-50) MSEK, mainly driven by transaction costs related to the acquisition of Moonfrog Labs. Amortization of PPA-items amounted to -144 (-56) MSEK
- Financial net of -45 (-4) MSEK
- Net result of 148 (77) MSEK
- Net result per share undiluted of 0.41 (0.29) SEK. Net result per share diluted of 0.41 (0.28) SEK
- Net debt of 3,116 (1,787) MSEK and adjusted leverage ratio, pro forma of 1.3x (1.2x)
- Cash position of 1,225 MSEK and 1,211 MSEK of undrawn credit facilities
“Stillfront has seen a solid start to 2021 with continued strong growth and high profitability. We continue to deliver in line with our expectations and we are making great progress towards our long-term financial targets and our ambition to create the leading free-to-play powerhouse of gaming studios. During 2021, we have intensified the process of transferring from Nasdaq First North to the main market of Nasdaq Stockholm with the intention to list Stillfront's shares on the main market within the coming months, subject to required regulatory and listing committee approvals.”
Jörgen Larsson, CEO, Stillfront
Key Figures
MSEK | 2021 Jan-Mar | 2020 Jan-Mar | Last 12 months | 2020 Jan-Dec |
| Bookings | 1,313 | 685 | 4,592 | 3,964 |
| Deferred revenue | 7 | 6 | 28 | 27 |
| Net revenue | 1,319 | 691 | 4,619 | 3,991 |
| EBIT | 253 | 106 | 1,140 | 993 |
| Adjusted EBIT | 432 | 213 | 1,713 | 1,493 |
| Adjusted EBIT margin, % | 33 | 31 | 37 | 37 |
| EBITDA | 463 | 204 | 1,811 | 1,553 |
| Adjusted EBITDA | 498 | 254 | 1,941 | 1,697 |
| Adjusted EBITDA margin, % | 38 | 37 | 42 | 43 |
| Profit before tax | 208 | 102 | 906 | 799 |
| Net result | 148 | 77 | 652 | 581 |
| Number of Employees | 1,250 | 743 | 1,250 | 1,032 |
| Adjusted Leverage Ratio, pro forma, x | 1.3 | 1.2 | 1.3 | 0.9 |
Invitation to webcast
The report will be presented in a live webcast at 10:00 a.m. CEST today. Jörgen Larsson, President & CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.
To participate via webcast, please visit:
https://tv.streamfabriken.com/stillfront-q1-2021
To participate via phone, please call:
SE: +46 8 505 583 59
UK: +44 33 330 090 35
US: +1 83 382 305 86