MAG Interactive AB (publ) publishes Interim Report September - February 2020/2021

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MAG Interactive

31 Mar, 2021, 06:14 GMT

STOCKHOLM, March 31, 2021 /PRNewswire/ -- The revenues in Q2 grew by 44% to 72.6 MSEK and ARPDAU increased with 67% compared to the same period last year thanks to an increase in In-App Purchases.

Summary of the period November 2020 - February 2021:

  • The Group's net sales for the period were 72,606 KSEK (50,527 KSEK), an increase of 44% compared to the same period the previous year
  • EBITDA for the period was 10,332 KSEK (5,059 KSEK)
  • Adjusted EBITDA for the period was 12,365 KSEK (5,059 KSEK) (adjustments for EBITDA relate to effects from acquisition costs and social contribution costs from revaluation of option programs)
  • The Group's game contribution for the period was 42,049 KSEK (31,990 KSEK), an increase of 31% compared to the same period the previous year
  • Average revenue per daily active user (ARPDAU) for the period was 4.8 US cents (2.9 US cents), an increase of 67% compared to the same period the previous year
  • The result per share during the quarter was -0.08 SEK/share (-0.16 SEK/share)
  • The costs of user acquisition for the period was 21,950 KSEK (13,559 KSEK)
  • Daily and monthly active users (DAU and MAU) were 2.0 million and 6.3 million respectively during the quarter, a decrease of 2% and 4% compared to the same period the previous year

Comment from the CEO in summary

"We are very proud to share that the revenues in Q2 grew by 44% to 72.6 MSEK compared to the same period last year. The growth was primarily boosted by continued improvements in the average revenue per daily active user (ARPDAU). In Q2 the ARPDAU was 4.8 cents which is 67% higher than the same period last year. The key driver for the ARPDAU improvement is an increase in In-App Purchase revenue (IAP) - which in Q2 was 74% higher than a year ago.

EBITDA reached 10.3 MSEK in Q2 which is more than doubled compared to a year ago. We were also able to generate a record high Game Contribution of 42 MSEK, 31% higher than last year.

During the first two months as part of MAG, Apprope generated more than 7 MSEK in revenues. We can already see clear synergy effects in terms of game analytics and user acquisition efficiency, having quickly integrated Apprope's games with MAG's central analytics platform. We aim to continue to grow their biggest game Word Mansion during 2021 based on great collaboration between our teams.

Wordzee and New QuizDuel continue to develop at a high pace. On March 8 we launched the live show QuizDuel Live in New QuizDuel to the German market. We have established a number of commercial partners for the live mode and are now regularly running sponsored shows. Wordzee has an ARPDAU that is significantly stronger than any other MAG game. In late March we launched the biggest update in the game since Wordzee's initial release to give the players a much deeper sense of progression in the game.

Looking back at the last couple of years we have seen a strong and steady development in the right direction for MAG. We have launched better games, operated the live games more efficiently and recruited great talent that will help us improve even further. Thanks to the launch of QuizDuel Live combined with the recent updates of Wordzee and the potential we see in Word Mansion there is a lot to be excited about when moving into Q3", says Daniel Hasselberg, CEO of MAG Interactive.

Summary of the period September 2020 - February 2021 (6 months):

  • The Group's net sales for the period were 135,556 KSEK (97,629 KSEK), an increase of 39% compared to the same period the previous year
  • EBITDA for the period was 19,622 KSEK (10,089 KSEK)
  • Adjusted EBITDA for the period was 21,655 KSEK (10,089 KSEK) (adjustments relate to effects from acquisition costs and social contribution costs from revaluation of option programs)
  • The Group's game contribution for the period was 80,515 KSEK (63,363 KSEK), an increase of 27% compared to the same period the previous year
  • The result per share during the quarter was -0.08 SEK/share (-0.27 SEK/share)

Presentation & Report

On March 31, 2021 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 herewww.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 visithttps://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 March 31, 2021.

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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