- gamigo nearly breaks even for the first time after its repositioning
- Operating result (EBITDA) climbs to EUR 956 thousand
- Revenue up substantially to EUR 4.3 million
- Acquisitions of INTENIUM and Gamespree have a positive effect
Hamburg, 30 June 2015 – The gamigo group, a leading gaming company in Europe and North America, today announced that according to preliminary figures (IFRS) it continued its positive earnings trend in the first quarter of 2015. In the first three months of this year, gamigo nearly broke even in terms of net profit/loss for the first time since its repositioning in the form of a cost-effective platform strategy. The net loss was trimmed to EUR 43 thousand in the first three months of 2015 from EUR 2.5 million in the prior-year period.
The operating result (EBITDA) climbed to EUR 956 thousand in the first quarter of 2015 compared with EUR -179 thousand in the same period in 2014. In the opening quarter of 2015, the revenue of gamigo AG developed extremely positively, reaching EUR 4.3 million versus EUR 3.4 million in the year-earlier period.
The significant, profitable growth in the first quarter of 2015 was fueled by the addition of several new games to the portfolio such as The Rats, Kings and Legends, and Wickie Online. In addition, the new Gaming as a Service platform is attracting a great deal of interest and has considerable potential for growth. What is more, the strategic acquisitions of INTENIUM and Piraya Mobile in recent months have made a sizable contribution to the overall positive performance of the promising Mobile Games division.
The final figures for the 2014 financial year of gamigo AG calculated for the first time in accordance with International Financial Reporting Standards (IFRSs) are in line with the preliminary figures already reported. The company’s revenue in 2014 amounted to EUR 15.1 million (2013: EUR 15.1 million). The group’s operating result (EBITDA) registered a marked improvement from EUR -0.04 million in 2013 to EUR 1.9 million in 2014. Earnings before taxes (EBT) came to EUR -2.42 million in 2014, up substantially on 2013 (EUR -4.98 million). Although the group still recorded a net loss, this was reduced significantly in 2014 to EUR 0.91 million (2013: EUR 2.43 million). Cash flows from operating activities were positive in 2014 at EUR 1.9 million (2013: EUR -2.9 million).
For 2015 as a whole, gamigo’s target is revenue growth of at least 20 percent in addition to posting a net profit.
Theodor Niehues, a member of gamigo’s management board, said: “The strategic realignment is proving to be a resounding success. After having already recorded a clear year-on-year improvement in 2014, we are delighted to report that we almost broke even in terms of net profit/loss in the first quarter of 2015. We are operating at a profit once more. Based on our extremely encouraging performance in the early months of 2015, I am confident that we will break even in 2015 as a whole.”
The use of IFRSs for the first time has led to adjustments in the prior-year figures. The audited 2014 Annual Report of gamigo AG can be downloaded at https://www.gamigo-anleihe.de/.
About 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 130 employees in Hamburg, Berlin (Germany), San Francisco, Chicago (USA), Seoul (Korea) and Kaliningrad (Russia) support the three business areas Platform Services (including Gaming as a Service and Game Portals), Publishing free-to-play mobile and online games. 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.