Stillfront Group Ab · OMXSTO:SF
Stillfront Group Ab — Q4 2019 Earnings Presentation
15 slides from Stillfront Group Ab's earnings presentation, Feb 19, 2020
Slide 1: Year-End Report 2019
Year-End Report 2019 Investor presentation February 19, 2020
Slide 2: Stillfront – a free-to-play power house
Stillfront – a free-to-play power house ST II LL LL FF RO ST RONN TT AT AT A A G G LL A ANN CC EE G LO G LO BA B A LL PP RR EES S EE N N CC EE •• A global A group of global group of gaming gaming studios studios in in the the free-to-play free-to-play online online games games genre genre Europe 48%
Slide 3: Highlights Fourth Quarter and Full-Year 2019
H I G H L I G H T S F O U RT H Q UA RT E R • Net revenue growth of 51% YoY supported by a well-balanced product mix • Adj. EBIT margin of 32% as a result of continued good monetisation • Strong development YoY in Big products, Nida Harb 3 and the midsized portfolio • UAC amounted to 107 MSEK or 19%
Slide 4: Portfolio update Q4
Portfolio update Q4 Diversified portfolio: largest game represents less than 15 percent of revenue 28% 17% 55% <1% EMPIRE BRAND BIG BRAND C O R E P RO D U C T S OT H E R • Five products: Empire, Four • Three products: Big Farm, Mobile • In total 29 products • Long tail products Kingdoms, Millennium,
Slide 5: Active User Base
Active User Base DAU ¹ Y-o-Y ’EMPIRE’ BRAND ’BIG’ BRAND CORE PRODUCTS (’000) 1411 1317 1394 +22% 1309 1140 751 798 +68% 699 724 476 330 342 334 +1% 301 331 335 318 284 284 264 -21% Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 MAU ² Y-o-Y (’000) 6018 +26% COMMENTS Q4 2019 5874 5881 5342 4770 • Sequential
Slide 6: Paying User Base
Paying User Base MPU ¹ Y-o-Y ’EMPIRE’ BRAND ’BIG’ BRAND CORE PRODUCTS (’000) 236 +28% 205 211 184 192 121 +71% 87 103 71 83 44 51 48 47 53 +21% 69 67 60 61 62 -10% Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 ARPMPU ² Y-o-Y (SEK) COMMENTS Q4 2019 +8% +7% +27% +16% 923 902 826 • Loyal paying user base, ex
Slide 7: Strong revenue growth and solid profitability
Strong revenue growth and solid profitability N E T R E V E N U E , UA C D E V E LO P M E N T COMMENTS Net Revenue, MSEK UAC, MSEK UAC, % of Net Revenue 1967 551 480 517 1782 Net revenue growth of 51% YoY 1579 418 1325 1428 – Strong organic growth in the Big products and Nida Harb 3 366 – Medium siz
Slide 8: Income statement Q4 2019
Income statement Q4 2019 COMMENTS MSEK 2019 2018 Deposits 537 MSEK Oct-Dec Oct-Dec IFRS effect 3 MSEK Other game related revenues 11 MSEK Net revenue 551 366 OWC 62 22 Gross Margin 74% Other revenue 5 -1 Other operating expenses: -302 MSEK Total 618 387 • Payment providers, platform fees, royalties
Slide 9: Income statement Full-Year 2019
Income statement Full-Year 2019 MSEK 2019 2018 COMMENTS Net revenue 1,967 1,325 Net revenues amounted to 1,967 (1,325) MSEK, an increase of 48% OWC 197 118 • Organic and acquisitive growth drive diversification and create a better balance in the portfolio • Increased ARPMPU driven by live ops increa
Slide 10: Balance sheet 2019-12-31
Balance sheet 2019-12-31 MSEK 2019-12-31 2018-12-31 COMMENTS Intangible non-current assets 3,293 2,179 Intangible assets mainly consist of: Tangible non-current assets 76 14 Capitalized product development and acquired products 1,083 MSEK Deferred tax assets 71 5 Goodwill 2,211 MSEK Current receivab
Slide 11: Cash flow statement Q4 2019
Cash flow statement Q4 2019 CASH FLOW COMMENTS Q4 Cash flow from operations for Q4 2019 amounted to 148 (50) MSEK MSEK 2019 2018 FY FY • Positively impacted from changes in operating liabilities and operating receivables of 89 MSEK, partly offset by Oct-Dec Oct-Dec 2019 2018 by seasonal tax payments
Slide 12: Robust financing platform enables further growth
Robust financing platform enables further growth CO N S E RVAT I V E L E V E R A G E (SEKm) Net debt Leverage ratio pro forma KEY HIGHLIGHTS 2 000 1 600 → Cash generative business with high debt service capacity Indicative Adjusted 1 200 904 851 Leverage Ratio, pro → Leverage at conservative levels,
Slide 13: Storm8 – Leading mobile mash-up games publisher
Storm8 – Leading mobile mash-up games publisher STO R M 8 AT A G L A N C E K E Y P E RS O N N E L • Storm8 is a California-based market leading mobile game publisher with expertise within casual and puzzle / match-3 games • Founded in 2009, Storm8 has published more than 50 games across a variety of
Slide 14: Looking ahead
Looking ahead At the forefront of the converging gaming industry Build size – increase the addressable market, genre broadening Further leverage the positive scaling of our business model to accelerate synergies Accelerate value add through M&A – leverage on a strong pipeline Use our unique organisa
Slide 15: Stillfront Group
STILLFRONT GROUP