- Further growth and efficiency improvements due to successful platform strategy
- Consolidated revenues in H1 2016 increased to EUR 13.9 million (+59%)
- Consolidated EBITDA in H1 2016 increased to EUR 2.5 million (+61%)
The gamigo group (“gamigo”, bond ISIN: DE000A1TNJY0), has published its unaudited, consolidated H1 figures for 2016 according to IFRS and confirms its positive trend. The group’s consolidated revenues increased in the first six months of 2016 compared to the same period of 2015 by 59 percent to EUR 13.9 million (H1 2015: EUR 8.7 million) as a result of the growth in existing business as well as acquisitions in line with the group’s strategy.
The platform-focused strategy of the group is showing continuously improving results, which shows in both revenue and also EBITDA improvements. The consolidated group EBITDA lifted by 61 percent compared to the same period of the previous year to EUR 2.5 million (EBITDA H1 2015: EUR 1.5 million).
As a result of the M&A strategy, EBITDA in the first half of 2016 was strongly influenced by one-time costs, due to acquisitions as well as the costs for preparing the merger with the ProSiebenSat.1 subsidiary Aeria Games. Excluding the non-operational costs, the EBITDA in the first six months of the current year totalled EUR 3.4 million, which is more than double the figure of the first half of 2015.
The group’s consolidated net earnings in the first half of 2016 totalled minus EUR 0.5 million (compared to plus EUR 0.6 million in the first half of 2015). After adjustment for the non-recurring expenses, net earnings in the six-month period would have been positive.
In the first six months the work to improve the company’s further growth has continued. The buy & build strategy has been continued with the acquisition of the platform company highdigit and the games developer Playzo Games including its games licenses. The integration of the latest acquisitions is on schedule. In addition, in H1 an agreement has been reached with ProSiebenSat.1 to merge Aeria Games into gamigo based on a share transaction. Due to closing this transaction on 1 July 2016, the new participating interests in Aeria Games and adspree media will only be consolidated from the second half of the year 2016.
Remco Westermann, gamigo AG’s CEO, explains: “Our buy & build strategy shows clear positive results, revenues grow steadily and thanks to larger scaling in combination with strict cost control we also show positive EBITDA growth. We are planning to further pursue our strategy based on non-organic growth via M&A as well as organic growth in the areas of games publishing and B2B services. We are very confident in view of further positive growth for 2016 and the following periods.”
The H1 2016 financial report will be made available in the financial reports section on gamigo’s IR website.
About the gamigo group
The gamigo group is one of the leading gaming companies in Europe and North America with more than 100 million registered user accounts and over 300 staff members in Hamburg, Berlin, Münster, Darmstadt (Germany), Chicago (USA) and Seoul (Korea). Apart from gamigo AG, the group consists of, among others, Aeria Games, Infernum, Intenium, adspree and GameSpree. The company functions as a publisher for free-to-play mobile and online games and also offers modular Software as a Service solutions for business customers within the scope of the gamigo platform strategy. The gamigo platform helps publishers and developers from all over the world publish and promote their products efficiently and cost-effectively. The company’s core portfolio is comprised of successful games like Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya, The Rats and Twin Saga. As early as in the year 2000, gamigo published the first MMOG that was completely localized into German. gamigo strives to grow its business organically as well as via acquisitions and has performed 10+ M&As since 2013, including companies specializing in games and technology as well as individual game assets.
Axel Mühlhaus / Dr. Sönke Knop
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