MAG Interactive AB (publ) Publishes Interim Report September - February 2019/2020

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MAG Interactive

01 Apr, 2020, 07:19 GMT

STOCKHOLM, April 1, 2020 /PRNewswire/ -- Revenue increased by 23% in Q2 and EBITDA improved compared to the same period previous year

Summary of the period December 2019 - February 2020:

  • The Group's net sales for the period were 50,527 KSEK (41,166 KSEK), an increase of 23% compared to the same period the previous year
  • EBITDA for the period was 5,059 KSEK (-2,809 KSEK)
  • The Group's game contribution for the period was 31,990 KSEK (22,400 KSEK), an increase of 43% compared to the same period the previous year
  • Average revenue per daily active user, ARPDAU, for the period was 2.9 US cents (2.3 US cents), an increase of 23% compared to the same period last year
  • The result per share during the quarter was -0.16 SEK/share (-0.24 SEK/share)
  • The costs of user acquisition for the period was 13,559 KSEK (13,922 KSEK)
  • Daily and monthly active users (DAU and MAU) were 2.0 million and 6.6 million respectively during the quarter, a decrease of 6% and 15% compared to the same period last year

Comment from the CEO in summary

"In total, the revenue in the quarter grew by 23% landing at SEK 50.5 million with an EBITDA of just over SEK 5 million. We continue to see our multiplayer games grow. Revenues from them in Q2 are 51% higher than the corresponding period last year, and these games now turn over more revenue than the entire business did a year ago.

We are in a good position as a company today. With Wordzee and New QuizDuel, the company has two new products that we expect to be able to scale with user acquisition and contribute to our profits over time, in addition to the stable portfolio that we continue to optimize. Word Domination is in the middle of its growth journey, with subscriptions now accounting for 20% of in-app purchases, and where we expect increased revenue. Looking ahead, we also have a pipeline of game concepts in various phases of development that can create new opportunities for the company", says Daniel Hasselberg, CEO of MAG Interactive.

Summary of the period September 2019 - February 2020 (6 months):

  • The Group's net sales for the period were 97,629 KSEK (81,533 KSEK), an increase of 20% compared to the same period the previous year
  • EBITDA for the period was 10,089 KSEK (-1,579 KSEK)
  • The Group's game contribution for the period was 63,363 KSEK (48,250 KSEK), an increase of 31% compared to the same period the previous year
  • Adjusted EBITDA for the period was 6,491 KSEK (-1,579 KSEK) (adjustments relate to effects from effects from IFRS16)
  • The result per share during the quarter was -0.27 SEK/share (-0.38 SEK/share)

Presentation & Report

On April 1st, 2020 at 10:00 CET, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the interim report live on Twitch. The presentation will be held in English. Link to the Twitch feed here www.twitch.com/maginteractive. Daniel Hasselberg will also take questions on Twitter during the course of the day, write to @d_hasselberg or @maginteractive. For more information and to read the full report please visit https://www.maginteractive.com/investors/investor-relations/reports/.

This is information that MAG Interactive AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 on April 1st, 2020.

For additional information, please contact:

Daniel Hasselberg, CEO
+46-(0)8-644-35-40
daniel@maginteractive.se

Magnus Wiklander, CFO 
+46-(0)8-644-35-40 
magnus.wiklander@maginteractive.se

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