gamigo Group successfully continues its growth strategy and shows further revenue and EBITDA growth in Q1 2019
- Revenue increases by 39 percent year-on-year to EUR 13.4 million
- EBITDA increases to EUR 4.0 million (Q1 2018: EUR 2.4 million) due to revenue growth and economies of scale
- EBIT increases to EUR 1.5 million (Q1 2018: EUR 0.3 million), which is an increase of 453%
All figures in this release relate to consolidated group figures in accordance with IFRS.
Hamburg, 28 May 2019 – The gamigo Group (“gamigo”, bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, can look back on a very successful first quarter of 2019. Group revenues increased by 39 percent to EUR 13.4 million (Q1 2018: EUR 9.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased significantly by 70 percent to a total of EUR 4.0 million (Q1 2018: EUR 2.4 million).
In addition to increases in efficiency, such as the ongoing consolidation of the data centers, the acquisition of Trion Worlds assets in October 2018 shows a positive effect and first strong synergy potential in Q1 2019. The majority of players of the Trion Worlds titles have been successfully integrated into the gamigo portfolio. Some of the former Trion titles are now also among the Top 10 MMOs of gamigo. During Q1 2019, there was strong focus on providing the games of the gamigo group with extensive content updates to further engage and motivate the players. The Trion games, as well have led to a significant increase in important KPIs, such as eg. “monthly active users” (MAU). While the number of MAUs of the Top-10-MMO’s in the same period last year amounted to 0.35 million, the number increased by 255 percent to 1.23 million in the first quarter of 2019.
The increase in the bond volume of EUR 10 million in the first quarter of 2019 provides the gamigo group with additional financial flexibility for organic and inorganic growth. That the inorganic growth path is also further continuing in 2019, was shown by the acquisition of the Wild Tangent Assets, a gaming platform with over 5,000 titles and app. 4 million users, in April 2019. The first resulting positive effects on the financials are already expected in the first half of 2019.
Remco Westermann, CEO of the gamigo Group: “We are very satisfied with the development in the first quarter of 2019. Despite the typical seasonal negative effects within the first quarter, we were able to show substantial revenue and EBITDA growth and significantly increased our relevant Game-KPIs. With the tap issue of the bond in the first quarter and the acquisition of the WildTangent assets in April 2019 we additionally laid the foundation for further growth in the following quarters”.
The Q1 report is available as of today on the gamigo AG homepage in the investors area at: https://corporate.gamigo.com/en/investors/
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 28 May 2019 at 13:00 pm.
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 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.
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.
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