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YEAR-END and Q4 REPORT 2023

October – December 2023 in Summary

  • Net Revenue of SEK 473.1 (559.0) million, representing an FX-adjusted decline of 15.6 percent.
  • EBITDA of SEK 99.4 (177.6) million, and Adjusted EBITDA of SEK 98.2 (178.8) million.
  • EBIT of SEK 45.2 (-184.2) million, and Adjusted EBIT of SEK 43.9 (130.3) million.
  • Profit before tax of SEK 34.2 (-180.9) million.
  • Earnings per share of SEK 1.12 (-1.01). Adjusted earnings per share of SEK 1.11 (1.80).
  • Cash flows from operations of SEK 100.7 (114.3) million.
  • Cash balance of SEK 480.9 million with no bank debt at group level.
  • Shareholders approved a dividend of SEK 39.9 million for 2023 at the EGM, corresponding to SEK 0.45 per share to be distributed quarterly in two equal installments during the first half of 2024.

Note: Innova was divested in September 2022.

Comment from Ji Ham, Acting CEO of EG7:

For the full year 2023, EG7 delivered SEK 2,045.0 (1,865.9) million in Net Revenue corresponding to a 9.6 percent growth year-over-year and a 5.5 percent organic growth in local currencies. Adjusted EBITDA came in at SEK 542.0 (482.8) million, representing a margin of 26.5 percent and a growth of 12.3 percent year-over-year. The operating cash flows for the year grew 16.9 percent year-over-year to SEK 437.9 (374.6) million.

In the fourth quarter, EG7 delivered Net Revenue of SEK 473.1 (559.0) million and Adjusted EBITDA of SEK 98.2 (178.8) million, representing a margin of 20.8 percent. My Singing Monsters experienced a viral uptick in the fourth quarter 2022, resulting in highly elevated performance for the period. Now a full year from the viral peak, My Singing Monsters has stabilized at a lower level and is the main reason for the unfavorable comparison between the comparable periods in the fourth quarter.

Fiscal year 2024 is expected to be a transition year as the new growth initiatives are expected to contribute from 2024 forward. Consistent with previous communication and based on current trends, we expect Net Revenue of approximately SEK 1.8 billion with EBITDA margin in the 22-25 percent for the full year 2024.

FOR MORE INFORMATION, PLEASE CONTACT:
Fredrik Rüdén, Deputy CEO and CFO
Phone: +46 733 117 262
fredrik.ruden@enadglobal7.com

Ludvig Andersson, Investor Relations Manager
Phone: +46 730 587 608
ludvig.andersson@enadglobal7.com

About EG7
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 470+ game developers and develops its own original IPs, as well as acts as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games, Toadman Studios and Big Blue Bubble. In addition, the group's marketing department Petrol has contributed to the release of 2,000+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution departments Fireshine Games hold expertise in both physical and digital publishing. EG7 is headquartered in Stockholm with approximately 630 employees in 16 offices worldwide.

Nasdaq First North Growth Market Ticker Symbol: EG7

Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00

This information is information that Enad Global 7 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 2024-02-13 07:00 CET.

Attachments
EG7 Year-End and Q4 Report

Source:MFN
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