Media and Games Invest plc
- ISIN: MT0000580101
- Land: Malta
Nachricht vom 28.06.2019 | 18:18
Media and Games Invest plc publishes consolidated figures for 2018 and reports an EBITDA of EUR 8.6 million and a consolidated net income of EUR 5.3 million for the year
DGAP-News: Media and Games Invest plc / Key word(s): Annual Results
Valletta, Malta, 28 June 2019 - Media and Games Invest plc ("MGI", ISIN: MT0000580101; Symbol: M8G) has published its final, consolidated, audited figures for the fiscal year 2018 in accordance with IFRS, showing a successful development of the business. Revenues of EUR 32.6 million, an EBITDA of EUR 8.6 million and a consolidated net annual profit of EUR 5.3 million (before minority interests) were achieved.
EUR 32.6 million revenue and EUR 1.6 million net annual profit can be attributed to gamigo AG, which was taken over in May 2018 and is fully consolidated, with it's business divisions media and games. The real estate business which was discontinued in May 2018 through the sale of the respective participations, achieved a result of EUR 3.7 million before minority interests. The sale took place in the course of the complete realignment of the company as a strategic investment holding in the area of media and games. Accordingly, comparative figures from the previous year - when the company was active as a real estate investor with other major shareholders - are not relevant.
After the acquisition of 53.1 percent of the voting rights and 38.7 percent of the shares in gamigo AG in 2018, MGI was able to also successfully make another acquisition in 2018 to strengthen its market position in the area of media and games. In addition, further development of the portfolio enabled improvements in efficiency as well as cost reductions. In the context of it's "buy, integrate, build & improve" -strategy, MGI focuses on companies with strong growth potential, which in addition to the organic growth of the companies also boost further revenue and earnings potential through acquisitions. At the end of 2018, MGI's balance sheet equity was at EUR 159 million, with an equity ratio of 67 percent.
Remco Westermann, Chairman of Media and Games Invest plc: "We're pleased to be able to demonstrate a positive result already in the year of the realignment. Our investment in gamigo is developing well, and we are therefore planning to increase our stake in this portfolio company. In addition to gamigo, MGI acquired further portfolio companies in 2019, most recently in June the Berlin-based media companies Applift and PubNative. Based on acquisitions in combination with organic growth, while using internal efficiency and costs-reduction opportunities, we are on track to grow MGI into one of the leading strategic holdings in the synergetic areas of media and games."
The annual consolidated financial statement for 2018 is available on the company's website at www.media-and-games-invest.com in the Investor Relations section.
About Media and Games Invest plc:
Media and Games Invest plc is a strategic investment holding company focusing on a 'buy, integrate, build & improve' -strategy for fast-growing companies in the media and games markets. MGI's portfolio companies are growing through acquisitions and organic growth. New technologies are actively used to improve efficiency and create competitive advantages within the portfolio companies. An important criteriun for the expansion of the portfolio are, a. o. synergy potentials between the investments. The most important investments include gamigo AG, a fast-growing gaming and media company in which Media and Games Invest holds 38% of the shares and 53% of the voting rights, as well as ReachHero (67% of the shares), a leading influencer SaaS platform and Applift GmbH, a leading media company specializing in mobile advertising. Media and Games Invest is headquartered in Valletta (Malta), has subsidiaries in a.o. Switzerland and Germany and is listed on the Frankfurt Stock Exchange and on XETRA.
This communication contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of Media and Games plc or companies associated with it. Various known and unknown risks and uncertainties as well as other factors could mean that the actual results, financial circumstances, the development or performance of Media and Games plc and the companies associated with it may deviate significantly from the estimations presented here. Neither Media and Games plc nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.
|Company:||Media and Games Invest plc|
|St. Christopher Street 168|
|VLT 1467 Valletta|
|Phone:||+356 21 22 7553|
|Fax:||+356 21 22 7667|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Basic Board); Malta|
|EQS News ID:||833279|
|End of News||DGAP News Service|
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