Strong growth in active players following acquisition
Interim Report sept – nov 2017 MAG Interactive
SUMMARY OF THE PERIOD SEPTEMBER UNTIL NOVEMBER 2017
- The Group´s Net sales for the period were 52,990 KSEK (60,368 KSEK), a decrease of 12% compared to the same period previous year. Net sales adjusted for currency effects is 55,814 KSEK
- If FEO Media was consolidated from 1 September 2017, the group's Net sales would have been 62,335 KSEK. Compared to the comparison period this corresponds to an increase of 3%
- The Group's game contribution for the period was 23,236 KSEK (22,351 KSEK), an increase of 4% compared to the same period the previous year. If FEO Media was consolidated from 1 September 2017, the group's Game contribution would have been 32,082 KSEK. Compared to the comparison period this corresponds to an increase of 44%
- Adjusted EBITDA for the period was 2,452 KSEK (8,827 KSEK) (note 3) For the period combined, as if FEO Media was consolidated from 1 September 2017, the group's Adjusted EBITDA was 4,813 KSEK
- Cash flow from operating activities was -9,686 KSEK (-3,117 KSEK), from investing activities -71,114 KSEK (9,395 KSEK) and from financing activities 115,018 KSEK (0 KSEK). Cash and cash equivalens at the end of the period totaled 74,848 KSEK (58,178 KSEK)
SIGNIFICANT EVENTS SINCE THE END OF THE PERIOD OF THE REPORTING PERIOD
- On October 12 the game Backpacker was launched globally. Backpacker sip published by MAG Interactive and is developed and owned by WeAreQiiwi Interactive AB
- During October a share purchase agreement was signed regarding the purchase of all shares in FEO Media AB. On November 7 the acquisition was closed and FEO Media is now a fully owned subsidiary in the group. The acquisition was financed through a new issue of 1,811,764 shares, 80 MSEK, and debt of 35 MSEK from Danske Bank
SIGNIFICANT EVENTS DURING THE REPORTING PERIOD
- In the beginning of December MAG Interactive was listed on NASDAQ First North Premier with first day of trading on December 8
- In conjunction with the listing the company raised 200 MSEK, before transaction costs, through a new issue of 4,545,454 shares. In conjunction with the NASDAQ listing all previous preference shares were converted to common shares. The total number of shares and common shares after the issue is 26,321,393
- On January 17 the subsidiary company FEO Media AB notified of a planned reduction of 25 out of 42 employees. This with the ambition to restructure the company with focus on the game Quiz Duel. Co-determination consultations with the relevant trade unions will be initiated immediately. The aim is to implement the personnel reductions as soon as possible.
COMMENT FROM DANIEL HASSELBERG, CEO
“The main event during the quarter was the acquisition of FEO Media which almost doubled our active player base. Including the acquisition combined over the full reporting period, the game contribution increases by 44%. Our growth strategy is based on our own games, publishing as well as acquisitions and this quarter clearly shows the strength of this strategy.”
Full interim report is available at http://www.maginteractive.com/investor-relations/.
Further reporting dates
|Interim report September-February 2017/2018||18 April 2018|
|Interim report September-May 2017/2018||4 July 2018|
|Interim report September-August 2017/2018 and year-end report||17 October 2018|
The 17th of January at 10:30, CEO Daniel Hasselberg and CFO Magnus Wiklander will hold a Twitch video cast call to present the interim report. Link to the Twitch feed www.twitch.com/maginteractive. More information is available at www.maginteractive.se/investor-relations.
|This announcement contains inside information pursuant to Article 7 of the EU Market Abuse Regulation relating to MAG Interactive AB (publ). The information was submitted for publication through the agency of the contact persons set out below, on January 17, 2018 at 08.30 CET.For additional information, please contact: Daniel Hasselberg / VD / +46 (0)8 644 35 40 / firstname.lastname@example.org Magnus Wiklander / CFO / +46 (0)8 644 35 40 / email@example.com|
For full interim report sep – nov 2017 see attached.