Starbreeze Ab Class A · OMXSTO:STAR_A
Starbreeze Ab Class A — Q1 2024 Earnings Presentation
31 slides from Starbreeze Ab Class A's earnings presentation, May 14, 2024
Slide 1: Building Community by Making Games
starbreeze.com Building Community by Making Games First Quarter 2024 2024-05-14
Slide 2: Today’s presenters
Interim Report Q1 2024 Today’s presenters JÜRGEN GOELDNER, CEO MATS JUHL, CFO
Slide 3: Agenda
Agenda Agenda 1. Starbreeze in Brief 2. Quarter and Period in Brief 3. Our Games 4. Third Party Publishing 5. Group Financials 3
Slide 4: Starbreeze in Brief
STARBREEZE Starbreeze in Brief
Slide 5: Starbreeze in Numbers
Starbreeze in Brief Starbreeze in Numbers FOUNDED IN NET SALES, SEKm (R12) 1998 663.5 INITIAL PUBLIC OFFERING EBITDA, SEKm (R12) 2000 483.8 PERSONNEL CASH & CASH EQUIVALENTS, SEKm 191 387.2 5
Slide 6: About Starbreeze
Starbreeze in Brief About Starbreeze • Independent developer and creator of PC and console games targeting the global market • Develops games based on proprietary STOCKHOLM (HQ) and third-party rights, both in-house and together with external game developers • Executing on a multi-IP, cross-media, a
Slide 7: Starbreeze history timeline
Starbreeze in Brief 1998 It all begins… Founded under the name O3 Games AB 2000 2002 2004 2007 2009 2011 2012 Listed Enclave Knights of the Temple The Darkness Chronicles of PAYDAY: The Heist Syndicate on NASDAQ A medieval, multiplayer-only Gritty, first-person, Riddick – Assult on The original. Co-
Slide 8: Quarter & Period in Brief
STARBREEZE Quarter & Period in Brief a :
Slide 9: First Quarter – Key Takeaways
Quarter & Period in Brief First Quarter – Key Takeaways ‘Operation Medic Bag’ launched several improvements, sentiment turning Third-party publishing continued to perform strongly Tech demo of Project Baxter shown to prospective partners at GDC Future roadmap for ‘Operation Medic Bag’ to be publishe
Slide 10: Financial update, Q1 2024
Quarter & Period in Brief Financial update, Q1 2024 NET SALES, SEKm DEPRECIATION, AMORTIZATION & IMPAIRMENT, SEKm 56.6 (26.7) 71.8 (15.6) EBITDA, SEKm PROFIT/LOSS AFTER TAX, SEKm 48.5 (4.1) -21.0 (-24.7) CASHFLOW FROM OPERATING ACTIVITIES, SEKm CASH AND CASH EQUIVALENTS, SEKm 78.4 (20.7) 387.2 (78.0
Slide 11: Operational Summary
Quarter & Period in Brief Operational Summary Tribe Must Survive 1.0 launch announced Vertical slice of Project Baxter at GDC ‘Operation Medic Bag’ launched Roboquest ’Arsenal’–update Three patches under ‘OMB’ launched 11
Slide 12: Our Strategy
STARBREEZE Our Strategy
Slide 13: Strategy – A Strong Foundation to Deliver and Grow
Starbreeze in Brief Strategy – A Strong Foundation to Deliver and Grow Core focus created …into a broadened IP ...building games, IP and capacity for growth... portfolio… beyond ü PAYDAY 3 launching in • Self-publishing of own titles ü Secure PD3 development and quality September 2023 • Operating se
Slide 14: We make cooperative multiplayer games with a strong focus on community engagement
Starbreeze in Brief We make cooperative multiplayer games with a strong focus on community engagement, committed to having a long lifetime by updates and support 14
Slide 15: Our Game Cornerstones
Starbreeze in Brief Our Game Cornerstones Experience Lifetime Community “Larger than Life” Together Commitment Engagement Experience • Creating a foundation • Co-creating the • Focus on gameplay and • Cooperative Multiplayer for engagement to gameplay experience embodying iconic – where you really w
Slide 16: Our Approach to Future Projects
Starbreeze in Brief Our Approach to Future Projects • Starbreeze will be publisher by name of PAYDAY™ 3 Branch Bank all own titles – a significant move Concept Art upwards in the value chain • We will expand our Publishing department to manage our own titles as well as a portfolio of third-party gam
Slide 17: Our Games
STARBREEZE Our Games
Slide 18: Our Projects
Our Games Our Projects 2026 2027 OWN TITLES STATUS: RELEASED SEPTEMBER 21, 2023 STATUS: RELEASED SEPTEMBER 21, 2023 STATUS: IN PROUDUCTION STATUS: PROOF-OF-CONCEPT/PITCH GENRE: CO-OPERATIVE MULTIPLAYER GENRE: CO-OPERATIVE MULTIPLAYER GENRE: CO-OPERATIVE MULTIPLAYER GENRE: CO-OPERATIVE MULTIPLAYER BU
Slide 19: Third Party Publishing
Third Party Publishing 03 19
Slide 20: Third Party Publishing & Other Projects
Third Party Publishing & Other Projects Third Party Publishing • Established during 2022 Games reviewed and declined • Leveraging Starbreeze experience as developer and publisher to help developers bring their games to market >200 • Looking for games with Games currently in review Starbreeze pillars
Slide 21: Roboquest 1.0
Third Party Publishing & Other Projects Roboquest 1.0 Steam® reviews, positive Units, Early Access W1 vs 1.0 launch W1 94 percent +850 percent Peak Daily Active Users (DAU) GaaS roadmap ~100,000 4 DLCs in 2024 Average increase in DAU Available on: +1,000 percent 21
Slide 22: The Tribe Must Survive
Third Party Publishing & Other Projects The Tribe Must Survive About: Set in a gloomy lovecraftian stone age The Tribe Must Survive is about finding ways to grow and to protect your tribe from what lurks in the shadows around it. All your tribe members have their own personality and AI-will and gene
Slide 23: Turtle vs Turtle
Third Party Publishing & Other Projects Turtle vs Turtle About: Turtle vs Turtle is a Fortnite Island where two giant moving battle platforms set the stage for an epic conflict! The game is played in two teams (1 vs 1 to 8 vs 8 ) and players need to gather resources around the map to fund the buildi
Slide 24: Group financials
Group financials Group financials 05 24
Slide 25: Revenue development – growth in PAYDAY
Group financials Revenue development – growth in PAYDAY 99% 94% 93% 96% 99% 99% 100% 81% 60% 23.5m 31.8m 38.7m 33.6m 26.7m 43.2m 494.4m 69.2m 56.6m • Net sales for Q1 2024 totaled to SEK 56.6m (26.7m). SEKm • PAYDAY Generated 34.2m out 490,0 of Net sales (26.4m). 6,3 390,0 • Remaining Net Sales main
Slide 26: EBITDA development
Group financials EBITDA development SEKm 500 479,4 483,8 439,3 • EBITDA in LTM Q1 2024 amounted 400 to SEK 483.8m (65.9m) • PAYDAY 3 release in third quarter 300 2023 200 100 64,6 74,9 62,7 66,4 65,9 61,9 55,1 56,4* 56,9 58,2 0 LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM LTM Q1'21 Q2'21 Q3'21 Q4
Slide 27: Cashflow development
Group financials Cashflow development SEKm Q1 2024 1. 1 Operating activities after changes in 78 working capital, 10 387 SEK 78.4m 348 -49 2. 2 Investing activities, SEK -49.0m (game development) 3 3. Financing activities, SEK 9.9m (financing for game 157 development 13.7m, 129 108 and financial lea
Slide 28: Operating expenses
Group financials Operating expenses Cost base development SEKm NOTE Q1’24 Q1’23 2023 A Direct costs for Q1’24 amounted to SEK 86.5m (15.8m) and consists of costs related to game development, depreciations of IP:n, royalty payments and Direct costs A -86,5 -15,8 -309,3 non-activatable personnel expen
Slide 29: Balance sheet
Group financials Balance sheet Assets Liabilities As per December 31, 2023 As per March 31, 2024 SEKm SEKm • Intangible assets amounted • Non-current liabilities to SEK 504m and consist of IP amounted to SEK 100.0m, rights SEK 122m, capitalized including Current Current costs for own game and – Leas
Slide 30: First Quarter – Key Takeaways
Key takeaways First Quarter – Key Takeaways ‘Operation Medic Bag’ launched several improvements, sentiment turning Third-party publishing continued to perform strongly Tech demo of Project Baxter shown to prospective partners at GDC Future roadmap for ‘Operation Medic Bag’ to be published shortly Ca
Slide 31: Building Community by Making Games
starbreeze.com Building Community by Making Games 31