Welcome to the Investor Relations section of the gamigo Group

Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America.

In total, the gamigo Group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Rift, Defiance, ArcheAge, Trove, Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya and Twin Saga.

Gamigo strives for organic growth and growth through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Information about the gamigo AG bond

Issuer:gamigo AG
Type of SecuritySenior Secured Floating Rate Callable Bonds
ISINSE0011614445
ListingNASDAQ Stockholm / Frankfurt Stock Exchange (Open Market)
VolumeEUR 50 million
Initial nominal amount/denominationEUR 100,000
StatusSenior secured
Interest rate / coupon7.75% p.a. over the 3-month EURIBOR rate (minimum 0%)
Payment of interestJanuary 11, April 11, July 11 and October 11 each year. The first payment date shall be January 11, 2019. The last payment date shall be October 11, 2022.
Issue dateOctober 11, 2018
Issue price100% of the nominal amount
Tap Issue 1:April, 2019 with issue price at 100,5% of the nominal amount and a volume of EUR 10 million
Tap Issue 2:June, 2019 with issue price at 101,0% of the nominal amount and a volume of EUR 8 million
Maturity4 years (2018-2022)
CurrencyEURO
RedemptionOctober 11, 2022
Use of proceeds

The proceeds from the issue will be used to (1) refinance the Existing Debt together with accrued but unpaid interest, (2) finance general corporate Purposes (including investments and acquisitions), and (3) finance Transaction Costs.

The proceeds from any Subsequents Bond Issue shall be used to finance general corporate purposes (including investments, Transaction Costs and acquisitions) of the Group.

Sole BookrunnerPareto Securities AB, Stockholm
Terms and ConditionsDownload

Financial calendar

Release Date


31. May 2019Interim Report Q1 2019
31. August 2019Half Year Report Q2 2019
29. November 2019Interim Report Q3 2019
29. February 2020 Year End Report Q4 2020
 
  

 

Ad hoc-News

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 29.11.2019 / 12:00 CET/CEST

gamigo AG continues its growth path in Q3 2019 and significantly exceeds EBITDA for the full year 2018 in the first nine months of 2019 

  • Revenues grow by 34 % to EUR 43.0 million in the first 9 months 2019
  • EBITDA increases in the first 9 months 2019 by 63% to EUR 12.3 million
  • Operating cash flow improves by 33 % and grows to EUR 9.4 million in the first 9 months 2019
  • Successful integration of recent acquisitions almost completed

All figures in this release relate to unaudited consolidated gamigo group figures in accordance with IFRS

Hamburg, 29 November 2019 – gamigo AG (“gamigo”, bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, continued to grow strongly in the first nine months of 2019 and increased its operating profit significantly over-proportionally. EBITDA and EBIT for the first nine months of 2019 were already well above the figures for the full year 2018. Revenues in the first nine months of 2019 rose by 34 percent to EUR 43.0 million compared with EUR 31.8 million in the same period of the previous year. EBITDA improved by 63 percent to EUR 12.3 million after EUR 7.9 million in the first nine months of 2018. The figure for the entire previous year was EUR 11.1 million. EBIT tripled to EUR 4.7 million after EUR 1.6 million in the same period of the previous year. The total EBIT of the previous year amounted to 2.6 million Euro. At EUR 9.4 million, the operating cash flow was 33 percent above the figure for the same period in the previous year (2018, EUR 7.1 million). Cash and cash equivalents as of 30 September 2019 totaled EUR 20.9 million, compared with EUR 4.2 million at the end of 2018.

In the third quarter of 2019, revenues increased by 41 percent to EUR 14.5 million, compared with EUR 10.2 million in the third quarter of the previous year. EBITDA improved by 72 percent to EUR 4.0 million after EUR 2.3 million in the previous year. Thus, growth in revenues and earnings continued in the third quarter. In addition to organic growth, the largely completed integration of the WildTangent and TrionWorlds acquisitions contributed to this very positive business development. The synergy effects generated by the integration have resulted in costs rising significantly less than revenues.

The outlook for further business development remains positive and gamigo expects the strong and profitable growth to continue. The launch of ArcheAge: Unchained in mid-October will generate additional organic growth in the fourth quarter and further promising launches are in preparation for the following quarters.

Remco Westermann, CEO of the gamigo Group: “Having successfully completed most of the integration of the last acquisitions in the first half of the year, which led to cost advantages and efficiency gains, the focus in the third quarter was mainly on organic growth. ArcheAge Unchained: was successfully launched in October and further promising game launches are in preparation for the coming quarters. With our liquid funds of around EUR 21 million, we have the financial resources to exploit the existing organic and inorganic growth opportunities. gamigo is thus ideally positioned for further strong growth.”

The Q3 Report is available for download in the Investor Relations section of the gamigo AG website at: https://corporate.gamigo.com/investoren/ .

For the first time, the gamigo AG Q3 Report is also available as a video presentation. The video will be available from 02 December 2019 under the following link: https://corporate.gamigo.com/investoren/.

This Corporate News is information that gamigo AG is required to publish pursuant to the Market Abuse Ordinance 596/2014 and the Securities Markets Act (2007:528). This information was published by the issuer listed below on 29.11.2019 at 12:00 noon.

 

About the gamigo group:

Since its founding in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. The gamigo group has over 350 employees at its headquarters in Hamburg, Germany, with offices in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin, Bellevue (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful games titles such as ArchAge, Aura Kingdom, Defiance, Fiesta Online, Rift and Trove. gamigo is growing organically and through acquisitions and has made over 25 acquisitions since 2013, including games, media and technology companies as well as selected game assets.

 

Disclaimer:

This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of gamigo AG or companies associated with it. Various known and unknown risks and uncertainties, as well as other factors, could mean that the actual results, financial circumstances, the development or performance of gamigo AG and the companies associated with it may deviate significantly from the estimations presented here. Neither gamigo AG nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.

 

Press contact:

edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Phone: +49 69 9055 05 51
E-Mail: gamigo@edicto.de

 

Company contact:

gamigo AG
Sören Barz, Investor Relations
ir@gamigo.com

 

Emitter:

gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

E-Mail: info@gamigo.com
Web-Page: www.gamigo.ag

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 18.06.2019 / 09:02 CET/CEST

gamigo successfully places a tap issue of its listed bond, increasing the outstanding amount by EUR 8 million to EUR 50 million.

Hamburg, 18 June 2019 – gamigo AG (“gamigo”, bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, has placed a tap issue of EUR 8 million of its senior secured floating rate callable bonds listed on NASDAQ Stockholm. The net proceeds from the tap issue are intended to be used for general corporate purposes, including investments and acquisitions for further growth. Following the tap issue, the bond has a total outstanding volume of EUR 50 million and a coupon of 3 months EURIBOR (with a zero floor) plus 7.75 % per annum. The maturity date is 11 October 2022.

The tap issue was placed over par at a price of 101.00 % of the nominal amount. The settlement is expected to take place on 1 July 2019. The new bonds will be listed under the same ISIN, SE0011614445, on the regulated market of the NASDAQ Stockholm and co-listed on the Frankfurt Stock Exchange Open Market. Pareto Securities, Stockholm acted as sole book runner for the tap issue.

Management commentary
Paul Echt, CFO of gamigo AG: “We are very pleased about the tap issue of the bond with a total volume of EUR 50 million. The tap issue was oversubscribed like the bond issue in March 2019. This shows how attractive the company is for investors and it underpins the track record of the recent years. With the additional funds in combination with our positive operating cash flow and the free liquidity from the last tap issue in March this year, we can continue to pursue our dynamic, strongly M&A-driven growth path.”

About gamigo
Since its foundation in 2000, gamigo has become one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total the gamigo group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Austin, Redwood City, Bellevue (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Rift, Trove, ArcheAge, Defiance, Aura Kingdom and Fiesta Online. gamigo grows organically as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of gamigo or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of gamigo and its affiliated companies and the estimates given here. Neither gamigo nor its affiliated companies assume any liability to update these forward-looking statements or to adapt them to future events or developments.

For further information please contact:

Press:
edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Phone +49 69 9055 05 51
Email: gamigo@edicto.de

Company contact:
gamigo AG
Sören Barz
Investor Relations
Email: ir@gamigo.com

Emitter:
gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany
Email: info@gamigo.com
Web-Page: www.gamigo.ag

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 04.04.2019 / 00:25 CET/CEST

gamigo AG: acquisition of the gamepublisher WildTangent Inc. in the form of an asset deal leads to further profitable growth

  • WildTangent is a leading publisher of casual games, based in Bellevue, Washington State (USA)
  • Attractive asset deal; WildTangent publishes over 4,000 games and makes a positive contribution to EBITDA of the gamigo group from day one after the acquisition
  • Great potential for synergies with gamigo’s game publishing activities

Hamburg, 3, April 2019 – The gamigo AG today, via it’s 100% subsidiary gamigo Inc., acquired substantially all assets of the US games publisher WildTangent Inc. (“WildTangent”). The purchase price is in the mid-single-digit million US dollar range. The parties have agreed not to disclose the exact purchase price. The assets include, among others, a portfolio of over 4,000 games, which are distributed via the company’s own platform and in close cooperation with leading computer and laptop manufacturers. The acquired business of WildTangent is expected to contribute to revenues with a mid-single-digit million US dollar amount in the current financial year and to positively contribute to the gamigo group’s EBITDA from the date of acquisition.

In addition to the positive financial figures, gamigo expects the acquisition to generate significant synergies with gamigo’s current gaming activities and portals. WildTangent operates a gaming platform with more than 4 million visitors per month, a network of more than 400 game developers and publishers, a substantial customer base, as well as contracts for the distribution of the games portfolio via leading computer manufacturers.

Notes
With this acquisition, gamigo AG continues its series of successful acquisitions using the consolidation potential of the market. Based on its platform strategy, synergies between gamigo and the acquired companies can be leveraged and thus contribute to the further profitable growth of the group. With the current acquisition of the WildTangent assets as well as the Trion Worlds assets at the end of 2018, gamigo significantly strengthened its position in the USA, one of the world’s largest gaming markets.

Remco Westermann, CEO of the gamigo group: “We are very happy about this successful acquisition and can thus further expand our market position in the USA. WildTangent is profitable from day one after the acquisition and will as such immediately contribute to gamigo group’s operating profit. The acquisition will allow us to further leverage economies of scale as well as synergies. We further continue our path of growth and continue looking for further suitable targets”.

About the gamigo AG:
Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Austin, Redwood City (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Rift, Trove, ArcheAge, Defiance, Aura Kingdom and Fiesta Online. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of the gamigo AG or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the gamigo AG and its affiliated companies and the estimates given here. Neither the gamigo AG nor its affiliated companies assume any liability to update these forward-looking statements or to adapt them to future events or developments.

Press contact:
edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Phone +49 69 9055 05 51
E-mail: gamigo@edicto.de

Company contact:
gamigo AG
Investor Relations
ir@gamigo.com 

Emitter:
gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany
E-mail: info@gamigo.com
Web page: www.gamigo.ag

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596 / 2014 – March 26, 2019 / 08:11 CET/CEST

gamigo AG; successfully places tap issue of its senior secured listed bond in the amount of EUR 10 million

Hamburg, March 26, 2019: gamigo AG is pleased to announce that, following a short book building process, organized by Pareto Securities, Stockholm, the Company has successfully concluded a tap issue of EUR 10 million of senior secured floating rate callable bonds due October 2022 within the existing EUR 50 million bond issuance program of gamigo AG. The tap issue was oversubscribed. The net proceeds from the tap issue are intended to be used for the general corporate purposes, including investments and acquisitions for further growth.

The tap issue was made over par at a price of 100.50 per cent of the nominal amount and has the same coupon of 3 months Euribor (with a zero floor) plus 7.75 per cent per annum, and maturity date of 11 October 2022. So far gamigo AG had issued EUR 32 million of senior secured bonds within a framework of up to EUR 50 million, in October 2018 with ISIN SE0011614445. Settlement of the tap issue is expected to take place on April 02, 2019. After the tap issue, the total amount outstanding of gamigo AG’s bond loan will amount to EUR 42 million. The tap issue bonds will be listed with the same ISIN SE0011614445 in the regulated corporate bond segment of Nasdaq Stockholm and co-listed on the Frankfurt Stock Exchange Open Market.  

About gamigo AG:
Since its foundation in 2000, gamigo has developed into one of the leading publishers of online and mobile games in Europe and North America. In total, the gamigo group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Redwood City, Austin, Chicago (USA), Warsaw (Poland), Istanbul (Turkey), and Seoul (South-Korea). The company’s core portfolio includes successful gaming titles such as ArcheAge, Trove, Aura Kingdom and Fiesta Online. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Press contact:
edicto GmbH
Dr. Sönke Knop / Axel Mühlhaus
Telefon +49 69 9055 05 51
E-Mail: gamigo@edicto.de

For further information please contact:
gamigo AG
Investor Relations
ir@gamigo.com

Issuer:
gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

Email: info@gamigo.com
Web-Page: www.gamigo.ag

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 14, March 2019 / 09:51 CET/CEST


gamigo AG; financial update, fixed income investor meetings and potential tap issue

Hamburg, March 14, 2019: gamigo AG („gamigo Bond“ WKN: A2NBH2 / ISIN: SE0011614445) has man-dated Pareto Securities AB to arrange a series of fixed income investor meetings starting on 18 March 2019. Subject to market conditions, a tap issue of up to EUR 10 million may follow. The proceeds from such bond issue would be used to finance continued growth of gamigo.

For the purpose of incurrence testing under the bond’s terms and conditions, gamigo announces that as of February 15, 2019, its net interest-bearing debt position amounted to EUR 23.5 million and its EBITDA for the full year 2018 amounted to EUR 11.3 million, calculated in accordance with the bond’s terms and conditions.

About gamigo AG:
Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo Group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Ger-many), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Rift, Trove, Arche-Age, Defiance, Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya and Twin Saga. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of gamigo AG or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial sit-uation, development or performance of gamigo AG and its affiliated companies and the estimates given here. Neither gamigo AG nor its affiliated companies assume any liability to update these forward- look-ing statements or to adapt them to future events or developments.

For further information, please contact:

Remco Westermann, CEO
gamigo AG
Investor Relations
Email: ir@gamigo.com

Issuer:

gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

Email: info@gamigo.com
Web-Page: corporate.gamigo.com


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 06, December 2018 / 14:45 CET/CEST


gamigo AG; publishes bond prospectus and applies for listing of its bonds on Nasdaq Stockholm

gamigo AG (“gamigo”) has issued a senior secured bond loan of EUR 32,000,000 on 11 October 2018, within a total framework amount of EUR 50,000,000, on primarily the Swedish and continental European bond market. The bonds with ISIN SE0011614445 carry a floating interest rate of EURIBOR 3m + 7.75 per cent. per annum (a EURIBOR floor at 0.00 per cent. apply) and matures 11 October 2022.

gamigo has applied for listing of the bonds on the corporate bond list at the regulated market at Nasdaq Stockholm. The bonds will be admitted to trading at Nasdaq Stockholm as soon as possible.

In connection with this, gamigo has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority (“FI”) in accordance with the Financial Instruments Trading Act (Sw. lag (1991:980) om handel med finansiella instrument). The prospectus will be available on FI’s website (www.fi.se) and on gamigo’s website (www.gamigo.com).

This information is information that gamigo is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014/EU) and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 14:15 CET on 06.12. 2018.

For further information, please contact:

Remco Westermann, CEO
+4940411885206
Email: ir@gamigo.com

Issuer:

gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

Email: info@gamigo.com
Web-Page: corporate.gamigo.com


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 – 22, October 2018 / 21:55 CET/CEST


gamigo AG; acquisition of Trion Worlds games company to further strengthen its market-position in the games market.

Hamburg, October 22, 2018: gamigo AG („gamigo Bond“ WKN: A2NBH2 / ISIN: SE0011614445) has acquired major assets from Trion Worlds Inc. Trion Worlds is a leading US gaming company with offices in Redwood City (California) and Austin (Texas) and has as publisher and developer of online and console MMO-games, well-known games such as Rift, Defiance, Trove and ArcheAge in it’s portfolio. The assets of the company have been acquired by gamigo’s subsidiary Golden Gate Games Inc., via an “Assignment for the Benefit of the Creditors” process, in which the buyer only buys those assets, with which he wishes to continue the business.

The gamigo group has acquired the majority of the assets, including the platform, takes over employees to operate the business and gets the full publishing rights of the games. The IP’s of the Trion Worlds games have been acquired by gamigo’s sister company Padmapani GmbH and are made available for gamigo group, worldwide and exclusive.

It is expected that the Trion Worlds acquisition will add on gamigo group level revenues of at least USD 18 million in 2019. Depending on the speed and success of restructuring and integration, management expects an additional EBITDA of USD 1 to 4 million, based on unlocking substantial synergies and economies of scale as proven in numerous acquisitions before.

The full purchase price amounts to a low USD two-digit million amount (including possible earn-outs).

About gamigo AG:
Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo Group employs more than 250 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago (USA) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya and Twin Saga. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of gamigo AG or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of gamigo AG and its affiliated companies and the estimates given here. Neither gamigo AG nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.

For further information please contact:

Gamigo AG
Public and Investor Relations
Email: pr@gamigo.com

Issuer:

gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

Email: info@gamigo.com
Web-Page: corporate.gamigo.com

Press Release

gamigo Corporate News

gamigo AG acquires minority stake in Phoenix Games Holding GmbH and expects to continue its strong growth path

Online games publisher gamigo AG has acquired a minority stake in Phoenix Games Holding, a group of companies in the field of free-to-play mobile games development, in order to unfold synergies and growth opportunities between the two fast-growing companies. Furthermore, in line with developments to date, the Management Board of gamigo expects further revenue CAGR of 25% – 30% for the next 3-5 years, combined with an EBITDA margin of 25% – 30% and an EBIT margin of 15% – 20%. 

Hamburg, 18 September, 2019 – gamigo AG („gamigo“, Anleihe ISIN: SE0011614445), one of the leading publishers of mobile and online games in Europe and North America, today announced that it acquired a minority stake of less than 5% in Phoenix Games Holding. The companies will leverage synergies and growth opportunities in mobile game development and publishing, user acquisition and technical innovation.

Phoenix Games is a family of gaming companies and was founded by games industry entrepreneur veteran Klaas Kersting. Phoenix Games is a holding company focusing on acquiring and maximizing the potential of mobile gaming development studios by offering its own expertise and enabling cooperation between teams. Phoenix concentrates on the development and publishing of mobile games and recently acquired the British studio Well Played Games.

“A strong belief in the power of collaboration goes right to the core of Phoenix, so we are excited to welcome yet more strategic expertise into the family with this partnership”, said Klaas Kersting, CEO of Phoenix Games. “There are clear strategic synergies between Phoenix, gamigo and the companies associated to each that will help us to deliver even more expertise and upside to our growing family of developers.”

gamigo AG has acquired a minority stake in Phoenix Games Holding and is confident that this cooperation will enable it to leverage the potential of the growing mobile games sector even more effectively.

“With this partnership, we strengthen our expertise and foothold in the mobile games market. Also we are convinced that there are several synergies between Phoenix and gamigo, such as launching new games and customer acquisition, that will lead to additional growth and earnings of both companies.”, said Remco Westermann, CEO of gamigo AG.

Gamigo continues to focus on inorganic growth through acquisitions of companies and assets and takes advantage of the market consolidation opportunities. In addition, gamigo also increasingly focuses on organic growth. In the second half of 2019, gamigo has 3 game launches as well as several major content updates. In the Media / Advertising segment, the focus is on organic growth. In addition to its positive operating cash flow and freely available cash of over 20 million euros from the bond issued on Nasdaq Stockholm, gamigo has retained Pareto Securities AB to explore further financing -equity and non-equity- options to support further organic and non-organic growth.

The gamigo business model, that combines organic and anorganic growth and focuses on using synergies via integration and scale, shows good results.  While the total gaming market shows an annual average growth of app. 11% per year, gamigo had over the past 4 and ½ years an average revenue growth of 32% per year. The EBITDA margin has over this period increased to current between 25% and 30% and also the earnings before interest and taxes, EBIT, consistently showed a positive trend reaching 11% of revenues in the first half of 2019 with a further upward trend. Based on these past results, in combination with many acquisition targets being available as well as organic growth opportunities, and further efficiencies that are realized with larger scale, the board of gamigo expects in line with past development continuous further revenue CAGR for the next 3-5 years of 25% – 30% in combination with  an EBITDA margin of 25% – 30% and an EBIT margin of 15% – 20%.

About the gamigo group:
Since its founding in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. The gamigo group has over 400 employees at its headquarters in Hamburg, Germany, with offices in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin, Bellevue (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful games titles such as ArchAge, Aura Kingdom, Defiance, Fiesta Online, Rift and Trove. gamigo is growing organically and through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as selected game assets.

About Phoenix Games:
Phoenix Games was founded by serial games entrepreneur (Gameforge, Flaregames) and investor (Supercell, Wooga) Klaas Kersting in 2019 with the mission to build a family of the world’s most talented game developers and service providers. Phoenix firmly believes that backing great companies with the freedom to create will yield exciting results for everyone.

Disclaimer:
This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of gamigo AG or companies associated with it. Various known and unknown risks and uncertainties, as well as other factors, could mean that the actual results, financial circumstances, the development or performance of gamigo AG and the companies associated with it may deviate significantly from the estimations presented here. Neither gamigo AG nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.

Press contact:
edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Phone: +49 69 9055 05 51
E-Mail: gamigo@edicto.de

Company contact:
gamigo AG
Sören Barz, Investor Relations
ir@gamigo.com 

Issuer:
gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany

E-Mail: info@gamigo.com
Web-Page: www.gamigo.ag

gamigo corporate news

gamigo-Group achieved significant increase in revenues and earnings in 2018

• Revenues increased by 8 percent to EUR 45.3 million
• EBITDA increases to EUR 11.0 million despite M&A costs – a year-on-year increase of 56 percent
• Successful continuation of the market consolidation strategy; acquisition of Trion Worlds Inc. assets, a leading US gaming group
• Successful placement of a EUR 32 million bond with listing on NASDAQ Stockholm
• Further significant revenues and earnings growth also expected for 2019

Selected key financial indicators for the gamigo-Group*

 

*All figures in this release relate to consolidated figures in accordance with IFRS. The figures for the financial year 2018 are preliminary and unaudited.

Hamburg, 27 February 2019 – gamigo-Group (“gamigo”, bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, looks back at a very positive financial year 2018. Consolidated revenues increased by 8 percent to EUR 45.3 million according to preliminary, unaudited figures (2017: EUR 42.1 million). Consolidated revenues increased by 26 percent in the fourth quarter to EUR 13.5 million (Q4 2017: EUR 10.7 million). Consolidated EBITDA also increased significantly by 56 percent to a total of EUR 11.0 million (2017: EUR 7.0 million). The fourth quarter EBITDA amounted to EUR 3.4 million, an increase of 112 percent compared to the same quarter of the previous year (Q4 2017: EUR 1.6 million).

gamigo’s improved efficiency and also revenues in connection with the Trion acquisition that was completed in October had a positive impact on earnings, while substantial one-time transaction and M&A costs had a negative impact on earnings. Adjusted consolidated EBITDA excluding one-time costs amounted to EUR 13.4 million in 2018 (2017: EUR 10.5 million). In the fourth quarter, adjusted EBITDA increased by 147 percent to EUR 4.7 million (Q4 2017: EUR 1.9 million). EBIT also developed well and increased to EUR 2.4 million during the year 2018 compared to EUR -3.4 million in the previous year. In the fourth quarter EBIT amounted to EUR 0.8 million (Q4 2017: EUR -3.1 million). In 2018 gamigo recorded preliminary consolidated net earnings of EUR 1.6 million compared to EUR -5 million in 2017.

In 2018, the number of active monthly users of gamigo’s top 10 MMO games rose significantly by 230 percent from 421,000 users to 1.39 million users.
In October 2018 gamigo-group acquired the majority of Trion Worlds Inc’s assets – a leading US gaming group. This further strengthens gamigo’s market position on the international games market. gamigo also expects extensive synergies from the acquisition, which will be realized step by step through the already started integration in line with similar previous M&A transactions. The well-known online and console MMO games ArcheAge, Defiance, Rift and Trove are now also part of gamigo’s game portfolio as a result of the acquisition of the Trion Worlds assets.

A further milestone for gamigo was the issue of a senior secured corporate bond of EUR 32 million in October 2018, within a total framework amount of EUR 50 million. The bond was primarily placed on the Swedish and continental European bond markets. The bonds carry a floating interest rate of 7.75 percent p.a. (above the 3-month EURIBOR, with a floor of 0.00 percent) and matures 11 October 2022. The bonds are listed on NASDAQ Stockholm and Frankfurt Stock Exchange.
Also, for 2019 gamigo plans to continue its organic and M&A growth path. Both the pipeline for new licensed games and the acquisition pipeline for further market consolidation are promising. This is the basis for further significant revenues and earnings growth in 2019.

Remco Westermann, CEO of the gamigo-Group: “We are very happy with the fiscal year 2018. However, this does not mean that we are resting on our laurels. We are on a sustainable growth path and will continue to successfully expand our market position. The acquisition of Trion World assets will give us additional revenues and a further boost in efficiency and therefore additional profitability potential.”

The 2018 year-end report is available from today on gamigo AG’s website in the Investors’ section https://corporate.gamigo.com/investoren/. The audited 2018 consolidated financial statements are expected to be published by the end of April 2019.

This information is information that Gamigo AG is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014 and the Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out below, at 1:30 CET on February 27th, 2018.

About the gamigo-group:

Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo Group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin (USA), Toronto (Canada) and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Rift, Trove, ArcheAge, Defiance, Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya and Twin Saga. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.

Press contact
edicto GmbH
Dr. Sönke Knop / Axel Mühlhaus
Telefon +49 69 9055 05 51
E-Mail: gamigo@edicto.de


 

INTERIM REPORT JULY – SEPTEMBER 2018

 

“The third quarter of 2018 was a good start for the second half of 2018. While we haven’t done any acquisition in this quarter, we have used this quiet phase to further drive forward our organizational efficiency, work on our M&A pipeline and work on our financing side,” says Remco Westermann, CEO gamigo Group.


THIRD QUARTER 2018 HIGHLIGHTS

Net revenues amounted to 10.2 mEUR (Q3 ’17: 9.5 mEUR; corresponding period excl. payment business unit which was sold), which is 8,3% organic revenue growth.

  • EBITDA amounted to 2.3 mEUR (Q3 ’17: 1.2 mEUR), which is an increase of 97%.
  • The net result for the period amounted to 72 kEUR (Q3 ’17: -592 kEUR).
  • Leverage ratio has improved to 2,1 from 3,6 on Dec. 31, 2017.
  • B2C Segment: Aura Kingdom, the Anime-MMORPG from gamigo group had a brand-new patch with new monsters and other exciting quests. Furthermore, we closed a sub-license contract with the Asian game publisher Asiasoft for our IP owned MMO Last Chaos.
  • B2B Segment: Adspree has had quite an exciting summer. In July we delivered with PUBG one of the biggest campaigns in our company’s history. PUBG Global Invitational 2018 was the first major international tournament organized by PUBG Corporation, with 20 teams competing for a share of the $2,000,000 USD prize pool over four days in the Mercedes-Benz Arena in Berlin.
  • Business Units: The Units made further optimization on structure and cost levels, reduced the number of datacenters and back-ends, further streamlined the organization and worked on the M&A pipeline.

About gamigo AG

Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo Group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Redwood City, Austin, Chicago (USA), Warsaw (Poland), Istanbul (Turkey), and Seoul (Korea). The company’s core portfolio includes successful gaming titles such as Trove, ArcheAge, Aura Kingdom, Rift, Defiance 2050, Desert Operations, Fiesta Online, Shaiya and Twin Saga. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets. The media companies adspree and Mediakraft are part of the platform strategy and also provide B2B services to third parties.

For further information, please contact:

Remco Westermann, CEO
Paul Echt, CFO
Gamigo AG
Public and Investor Relations
Email: ir@gamigo.com

Issuer
gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany
Email: info@gamigo.com

Tel: +49 (0)40 411 885 0
Web-Page: www.gamigo.ag

Bond Prospectus