gamigo AG: Revenue growth and positive net earnings in H1 2015
– Revenues soar by 22 percent to EUR 8.7 million
– EBITDA more than triples to EUR 1.6 million
– Positive outlook for 2015 as a whole
Hamburg, September 24, 2015 – The gamigo group (“gamigo”, Bond ISIN: DE000A1TNJY0) has published its H1 figures and has confirmed the positive trend in earnings. As a result of the excellent growth in its existing business and acquisitions in line with its strategy, revenues are up by 22 percent compared to the same period of the previous year to EUR 8.7 million. Net earnings have recorded pleasing growth to EUR 0.6 million.
The clear improvement in operating results (EBITDA) in particular shows that the new, capital-saving platform strategy is increasingly bearing fruit. EBITDA has more than tripled compared to the same period of the previous year (EBITDA: EUR 1.6 million H1 2015 compared to EUR 0.4 million H1 2014). Net earnings in H1 2015 totalled EUR 0.6 million, compared to a net loss of EUR 1.1 million in the first half of 2014. Gamigo’s positive operating growth can also be clearly seen in the operating cash flow. In the first half of 2015 this totalled EUR 2.3 million and was thus clearly higher than in 2014 as a whole (EUR 1.9 million). The Group has used IFRS for the first time to present its H1 2015 figures, which are initially provisional. In view of its H1 2015 figures, gamigo has confirmed its positive outlook for 2015 as a whole.
Theodor Niehues, a member of gamigo AG’s Management Board, explained: “The figures evidence the economic success of our strategic reorientation. We are working at a profit and our cash flow from operating activities is positive. As we have been able to reinforce our platform via various acquisitions in the recent past, and as there is huge demand for software as a service on the games market, I am very confident that our business will continue to enjoy positive growth in 2015 as a whole and beyond.”
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 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. Approximately 110 employees in Hamburg, Berlin (Germany), San Francisco, Chicago (USA), Seoul (Korea) and Kaliningrad (Russia) support the business areas platform (including gaming as a service and gaming portals), publishing of free to play mobile and online games and running gaming portals. gamigo has a wide range of highly-popular titles and a loyal customer base, including successful multiplayer online role-playing games such as “Fiesta Online” and “Last Chaos”. On top, the games portfolio continues to be further expanded with new titles, such as “Wickie Online” and “Kings and Legends”. The gamigo group has a total of well over 40 million registered game accounts worldwide. In addition to multiplayer online games, gamigo is also increasingly investing in mobile games, including games such as “Dino Empire” and the cross-platform game “The Rats Online”.
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