gamigo AG
gamigo AG: gamigo with profitable revenue growth in the 1st half of 2019 – EBIT up 149 percent
DGAP-News: gamigo AG / Key word(s): Half Year Results gamigo with profitable revenue growth in the 1st half of 2019 – EBIT up 149 percent – Revenue grows by 32 percent to EUR 28.4 million (H1 2018: EUR 21.5 million) – EBITDA increases by 59 percent to EUR 8.3 million (H1 2018: EUR 5.2 million) – The cash flow from operating activities amounts to EUR 6.5 million and thus grows by 19 percent (H1 2018: EUR 5.5 million). – Organic growth and successful integration of the acquired TrionWorlds assets (Q4 2018) and WildTangent assets (Q2 2019) contribute to growth All figures in this release relate to unaudited consolidated group figures in accordance with IFRS Hamburg, 30 August 2019 – The gamigo Group (“gamigo”, bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, continued to show strong and profitable growth in the second quarter and the first half of 2019 according to unaudited consolidated IFRS Group figures. Driven by organic growth in combination with the revenue and earnings contributions of the successfully acquired TrionWorlds and WildTangent assets, consolidated revenues increased by 32 percent to EUR 28.4 million in the first half of 2019 (H1 2018: EUR 21.5 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also developed very positively, rising by 59 percent to EUR 8.3 million (H1 2018: EUR 5.2 million), while earnings before interest and taxes (EBIT) rose by 149 percent to EUR 3.2 million (H1 2018: EUR 1.3 million). Operating cash flow improved by 19 percent to EUR 6.5 million (H1 2018: EUR 5.5 million). Second quarter, April – June 2019 A major part of the focus in the first half of the year was on the integration of TrionWorlds assets and WildTangent assets. Both assets developed very positively and the integration processes were largely successfully completed by the end of the first half of 2019. The considerable synergy potential at various levels is now beginning to show its first positive effect on the Group’s results. Both acquisitions are proof that the strategy of gamigo AG to take advantage of the potential of the consolidating market at a low risk is working. The critical mass now achieved by this strategy enables gamigo to focus on organic growth without having to take the usual industry-specific risks. In this context, gamigo also used the first half of 2019 to build the basis for stronger organic growth in the second half of the year by preparing three major game launches that could become milestones for the company in the second half of 2019. That includes: Relaunch Desert Operations ArchAge Unchained Remco Westermann, CEO of the gamigo Group: “Following the successful integration of the recently acquired assets, we have once again focused on organic growth by optimizing our games portfolio. In addition to smaller and already launched updates, e.g. in the games Trove, Defiance 2050, ArchAge and Fiesta, three major launches are planned for the second half of the year, whose preparations are currently in full swing. Due to the positive development of our operating business and the increase of our bond by a further 18 million Euro in the course of the first half of the year, we have substantial financial resources available to continue our strategy of market consolidation in the second half of 2019. Our acquisition pipeline is accordingly well filled with interesting targets. All in all, gamigo is in a very promising position. We are showing strong growth and the capital market demonstrates confidence in our business model. In addition, we are well funded and our pipelines for organic and inorganic growth are well filled. Players, investors and shareholders as well as gamigo employees can look forward to a promising second half of 2019”. The Q2 and H1 2019 report of gamigo AG is available as of today on the gamigo AG homepage in the Investors section of the website: https://corporate.gamigo.com/investoren/ 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 below on 30.08.2019 at 08:00 hours. About the gamigo group: Disclaimer: Press contact: Company contact: gamigo AG Sören Barz, Investor Relations ir@gamigo.com
gamigo AG Behringstraße 16 B 22765 Hamburg Germany E-Mail: info@gamigo.com Web-Page: www.gamigo.ag
30.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | gamigo AG |
Behringstr. 16b | |
22765 Hamburg | |
Germany | |
Phone: | +49 (0)40-411 885-0 |
Fax: | +49 (0)40-411 885-255 |
E-mail: | ir@gamigo.com |
Internet: | www.gamigo.ag |
ISIN: | SE0011614445 |
WKN: | A2NBH2 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart, Tradegate Exchange; Stockholm |
EQS News ID: | 865971 |
End of News | DGAP News Service |