Slide 1: Interim report Q2 2023
STILLFRONT GROUP Interim report Q2 2023
Slide 2: Record-high margins and cash flows through higher operational efficiency
STILLFRONT IN Q2 2023 Record-high margins and cash flows through higher operational efficiency An increasingly global footprint › Net revenue stable year-over-year › Solid performance from key franchises while Europe 26% North Am 41% building pipeline of soft-launches for second half of the year Asi
Slide 3: Revenue development
Net Revenue, MSEK User acquisition cost, % of Net Revenue REVENUE DEVELOPMENT Net revenue & UAC Net revenue & UAC (LTM) Net revenue bridge +0% +14% 1811 1787 1781 1758 1812 7058 7138 7138 1,811 -5% +7% -1% 1,812 6719 6243 26% 27% 26% 26% 26% 25% 25% 24% 25% 24% Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q2'22 LT
Slide 4: Margin development
Adj. EBITDAC, MSEK Adj. EBITDAC margin, % MARGIN DEVELOPMENT Adj. EBITDA margin, % Adjusted EBITDAC Adjusted EBITDAC (LTM) › Adjusted EBITDAC margin +32% +19% expansion to 28 percent, up from 22 percent same period last year 1780 › Gross margin improvement of 2.5 516 1653 percentage points 1599 1497
Slide 5: Solid performance from key franchises
PORTFOLIO HIGHLIGHTS Solid performance from key franchises Portfolio highlights › Albion Online growing significantly in quarter driven by successful launch of Albion East › Strong performance from Moonfrog’s Ludo Club franchise with increased marketing push across new markets › BitLife continues st
Slide 6: Active portfolio: Total
ACTIVE PORTFOLIO: TOTAL Bookings (‘000 SEK) -1% MAU (‘000 SEK) -12% MPU (‘000 SEK) -19% Bookings by channel DAU (‘000 SEK) -15% ARPDAU (SEK) +17% 1,713 1,693 1,693 1,653 1,698 1,521 Advertising 1,424 13% 65,965 65,767 60,909 60,502 1,231 1,240 1,237 57,971 DTC & Other 26% 12,747 12,519 11,526 11,485
Slide 7: Active portfolio: Total by product area
ACTIVE PORTFOLIO: TOTAL Bookings (MSEK) ARPDAU (SEK) User acquisition cost (MSEK) 8.5 8.0 8.1 8.3 8.3 › Strong growth in bookings year-over- year for Simulation, RPG & Action 605 599 586 586 554 154 145 driven by Albion East launch 129 165 162 › Lower UAC drives lower bookings in Strategy and Casual
Slide 8: Continued strong cash generation
CASH FLOW HIGHLIGHTS Continued strong cash generation Q2, MSEK Q2 2023 Q2 2022 Δ Cash flow from operations (before NWC) 501 531 -5% Change in net working capital 66 -27 - Cash flow from operations (CFFO) 567 503 13% Continued strong underlying cash flow from operations Cash flow from investment acti
Slide 9: Leverage within targets and well-balanced maturity profile
BAL ANCE SHEET HIGHLIGHTS Leverage within targets and well-balanced maturity profile 7,000 5.00 4.50 6,000 874 4.00 1,470 1,350 5,000 989 776 3.50 725 1,869 917 748 749 3.00 4,000 1113 2.50 3,000 2.00 1.84 1.87 1.91 1.75 1.78 4,404 1.50 2,000 3,860 3,923 3,571 3,826 1,881 1.00 1,500 1,000 1,000 0.50
Slide 10: Executing on plan with record-high profits and cash flows
SUMMARY AND OUTLO OK Executing on plan with record-high profits and cash flows › Focused investments in new products and higher gross margin enabling all-time-high adj EBITDAC and EBITDA › Solid performance from key franchises › Important progress in driving synergies across the group › Strong cash
Slide 11: Stillfront Group
STILLFRONT GROUP