- Revenues up by 34% after nine months to EUR 14.7 million
- EBITDA soars by around 270% to EUR 2.9 million with positive net earnings of EUR 0.8 million after nine months
- Platform-based strategy combined with market consolidation via smaller acquisitions proves successful
Hamburg, November 24th, 2015 – gamigo AG (“gamigo”, bond ISIN: DE000A1TNJY0) has significantly increased its revenues on the earnings in the 3rd quarter of 2015 according to provisional figures (IFRS). During this period, the gamigo group’s revenues increased compared to Q3 2014 by around 43% to EUR 6.0 million, with EBITDA quadrupling year-on-year to EUR 1.3 million. Net consolidated earnings were still negative in Q3 2014, and turned around in Q3 2015 to plus EUR 255,000. In total, these excellent quarterly figures are due to the platform-based growth strategy introduced in 2013. Scaling the platform, combined with ongoing acquisitions in line with the strategy, have allowed constant increases in revenues and profits. Four publishers were acquired in 2015 (Gamespree, Piraya, Infernum and Looki) and two other acquisitions were made to reinforce the platform (payment specialist MBE and the games portal POGED). The consolidation of smaller game companies which are easier to integrate has led to constant increases in gamigo AG’s revenues and earnings. The market consolidation means that there are many other acquisition targets in Germany and also the rest of Europe.
In the first 9 months of 2015 consolidated revenues soared compared to the same period of the previous year by 34 percent to EUR 14.7 million. At the same time, the gamigo group’s EBITDA improved by around 270% to EUR 2.9 million. Net earnings turned around to plus EUR 0.8 million after the first nine months of 2015.
These figures prove the growing success of the company’s new, capital-saving platform strategy. gamigo AG’s management board believes that the continuing positive revenue and earnings growth will continue in the coming quarters.
Remco Westermann, CEO of gamigo, states, “In the third quarter of 2015, we were able to show once again that we operate profitably and generate lasting positive cash flows. Our strategic orientation towards successful, platform-strengthening acquisitions is bearing fruit. We will display further growth in the fourth quarter, when the positive effects of our most recent acquisition of Looki will come to bear. We expect a great result for the year 2015 and are confident with regards to 2016 as well as following years.“
About the gamigo group
The gamigo group is one of the leading gaming companies in Europe and North America. gamigo was one of the first few companies to discover the booming market segment of online games, and published the first MMOG that was completely localized into German as early as 2000. Over 100 staff members in Hamburg, Berlin, Münster (Germany), Chicago (USA), Seoul (Korea) and Kaliningrad (Russia) are in charge of managing the platform (including Gaming as a Service and gaming portals) and the publishing of free-to-play mobile and online games. Fiesta Online and Last Chaos are just two examples of gamigo’s very successful multiplayer online role-playing game titles with a long-standing and loyal customer base. At the same time, the existing portfolio of games is constantly expanded with new titles, such as: Wickie Online, Kings and Legends, Desert Operations and Dragon’s Prophet. The gamigo group has a total of more than 65 million registered user accounts worldwide. In addition to online multiplayer games, gamigo is also stepping up investments in mobile games, including games such as Dino Empire and the cross-platform game The Rats. In addition to organic growth, the gamigo Group also strives to grow its business through the acquisition of companies specializing in games and technology.