Stillfront Group Ab · OMXSTO:SF
Stillfront Group Ab — Q2 2019 Earnings Presentation
13 slides from Stillfront Group Ab's earnings presentation, Aug 15, 2019
Slide 1: Second Quarter 2019
Second Quarter 2019 1 Interim report Q2 2019 2019-08-15
Slide 2: Stillfront – a market leader in online strategy games
Stillfront – a market leader in online strategy games S T I L L F R O N T AT A G L A N C E GLOBAL PRESENCE • A global group of gaming studios in the free-to-play online strategy games genre Europe 49% • A diverse and evolving game portfolio with two common themes; loyal users and long lifecycle game
Slide 3: Financial and Operational Highlights Q2
FINANCIAL HIGHLIGHTS Q2 • Revenue growth of 46% YoY • Adjusted EBIT margin of 32% • Long term goal of > 30% Adjusted EBIT LTM reached • UAC amounted to 99 MSEK or 21% in relation to net revenue • New debt financing in place and a successfully conducted share issue supporting further growth O P E R A
Slide 4: Portfolio update Q2
Portfolio update Q2 All three active product areas deliver a third quarter of sequential growth 36% 18% 46% <1% EMPIRE BRAND BIG BRAND CORE PRODUCTS OTHER • Four products: Empire, Four Kingdoms, • Three products: Big Farm, Mobile • In total 25 products • Long tail products Millennium, World War 3 Ha
Slide 5: Active User Base
Active User Base DAU ¹ Y-o-Y ’ EMP I RE’ BRAND ’ BI G’ BRAND CORE P RODUCT S (’000) 1411 1317 +29% 1140 1021 954 751 699 +184% 246 476 259 372 350 330 342 334 -10% 403 345 335 318 284 -29% Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 MAU ² Y-o-Y (’000) COMMENT S Q1 2 0 1 9 5874 5881 +39% 4770 • MAU and D
Slide 6: Paying User Base
Paying User Base MPU ¹ Y-o-Y ’ EMP I RE’ BRAND ’ BI G’ BRAND CORE P RODUCT S (’000) 205 192 +15% 184 167 153 87 38 71 83 +122% 38 53 48 44 51 48 -10% 76 67 69 67 60 -20% Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 ARPMPU ² Y-o-Y (SEK) COMMENT S Q2 2 0 1 9 +24% +21% +6% +20% 902 873 801 778 826 782 • MPU
Slide 7: Kixeye at a glance
Kixeye at a glance A perfect fit with strong profitability and loyal customer base P I O N E E R S I N F R E E - T O - P L AY G A M I N G KIXEYE BLOCKBUSTER IPs • Founded in 2009, Headquartered in Victoria Canada with 120 FTEs • Offices in Canada, US, Vietnam and Australia • Active in same genre as
Slide 8: Strong revenue growth and solid profitability
Strong revenue growth and solid profitability NET REVENUE, UAC DEVELOPMENT COMMENTS Net Revenue, MSEK UAC, MSEK 1579 UAC, % of Net Revenue 1428 480 1180 1243 1325 • Strong revenue growth of 46% YoY 418 366 329 315 • High profitability: EBIT margin 32%: – UAC of 99 MSEK or 21% in relation to net reve
Slide 9: Income statement Q2 2019
Income statement Q2 2019 MSEK 2019 2018 COMMENTS Apr-Jun Apr-Jun Deposits 451 MSEK Net revenue 480 329 IFRS effect 19 MSEK Other game related revenues 10 MSEK OWC 38 35 Other revenue 57 14 Gross Margin 75% Payment providers, platform fees, royalties 122 MSEK Total 575 378 Depreciation and Amortizati
Slide 10: Balance sheet 2019-06-30
Balance sheet 2019-06-30 MSEK 2019-06-30 2018-06-30 COMMENT S Intangible non-current assets 2,242 1,531 Intangible assets mainly consist of: Tangible non-current assets 55 9 Capitalized product development and acquired products 553 MSEK Deferred tax assets 18 14 Goodwill 1689 MSEK Current receivable
Slide 11: Cash flow statement Q2 2019
Cash flow statement Q2 2019 C A S H F L O W F R O M O P E R AT I O N S COMMENTS Cash flow from operations for Q2 2019 amounted to 135 MSEK (-22) 2019 2018 2019 2018 2018 • Healthy cash flow generation from operations MSEK Apr-Jun Apr-Jun Jan-Jun Jan-Jun LTM Jan-Dec Cash flow from operations 135 -22
Slide 12: Summary
Summary 4, HIGH PROFITABILITY COMBINED WITH A OUR AIM: STRONG FINANCIAL To be the leading group of indie game developers and publishers POSITION AND CONSERVATIVE LEVERAGE • Offering long term first class digital entertainment • with high quality cross platform games • Operational excellence combinin
Slide 13: Stillfront Group
STILLFRONT GROUP