Slide 1: A leading free-to-play powerhouse
2021 A leading free-to-play powerhouse Interim report First quarter 2021
Slide 2: Stillfront at a glance
STILLFRONT AT A GL ANCE 60 A leading free-to-play 60 million MAU and 12 million DAU in powerhouse of 19 gaming studios March (39 million and 7 million in Q1) creating significant operational Main markets by revenue are US, synergies million Germany, MENA, UK and France A diverse and evolving game Eu
Slide 3: Highlights from the portfolio
HIGHLIGHTS FROM THE PORTFOLIO Game highlights in the first quarter • 10 new titles from acquired studios added to the active portfolio New games in the active portfolio • Word Collect and Trivia Star consistently ranked within top 3 downloaded apps in US in Word and Trivia categories in Q1 • Success
Slide 4: Net revenue, UAC development & organic growth
NET REVENUE, UAC DEVELOPMENT & ORGANIC GROWTH Net Revenue, MSEK UAC, MSEK UAC, % of Net Revenue 1319 4619 1192 +90% 1080 28% 3991 21% 1319 18% 1027 3462 19% -8.9% 20% 16% 2952 18% 691 +9.5% 2240 19% 691 21% 363 20% 958 216 164 215 635 743 148 438 554 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q1'20 LTM Q2'20 LTM
Slide 5: Adj. EBIT development
ADJ. EBIT DEVELOPMENT Adj. EBIT, MSEK Adj. EBIT, % of Net Revenue 463 1713 419 432 399 1493 37 % 39% 41 % 33% 1272 37 % 37 % 1028 37 % 213 732 35% 31 % 33% Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q1'20 LTM Q2'20 LTM Q3'20 LTM Q4'20 LTM Q1'21 LTM COMMENTS Q1 Adj. EBIT LTM Adj. EBIT • Continued high profitabili
Slide 6: Active portfolio: Total
ACTIVE PORTFOLIO: TOTAL MAU (‘000) +303% YoY DAU (‘000) +237% YoY MPU (‘000) +218% YoY Bookings (‘000) +90% YoY ARPDAU (SEK) -43% YoY UAC (MSEK) +143% YoY UAC, % of Bookings 7458 1261 60153 12065 1159 1170 1046 28% 18% 950 4699 846 877 39410 811 21% 4145 4253 7458 17% 664 22794 4699 22% 19602 21658
Slide 7: Active portfolio: Strategy
ACTIVE PORTFOLIO: STRATEGY MAU (‘000) -5% YoY DAU (‘000) -2% YoY MPU (‘000) +17% YoY Bookings (‘000) +10% YoY ARPDAU (SEK) +14% YoY UAC (MSEK) +19% YoY UAC, % of Bookings 600 398 3349 116 117 531 111 351 2853 513 519 100 100 19% 338 2752 2735 2708 477 318 310 17% 22% 20% 17% 7.3 7.1 7.2 7.5 6.6 63 7
Slide 8: Active portfolio: Simulation, RPG & Action
ACTIVE PORTFOLIO: SIMUL ATION, RPG & ACTION MAU (‘000) +143% YoY DAU (‘000) +69% YoY MPU (‘000) +123% YoY Bookings (‘000) +72% YoY ARPDAU (SEK) +3% YoY UAC (MSEK) +78% YoY UAC, % of Bookings 1643 415 8761 341 1442 373 7668 29% 1273 288 322 28% 5364 972 1024 242 21% 257 197 153 164 28% 19% 3604 3454
Slide 9: Active portfolio: Casual & Mash-up
ACTIVE PORTFOLIO: CASUAL & MASH-UP MAU (‘000) DAU (‘000) MPU (‘000) Bookings (‘000) ARPDAU (SEK) UAC (MSEK) UAC, % of Bookings 14081 27941 5296 700 496 13396 49156 450 533 546 383 33% 11256 478 16% 334 14081 13396 27941 2827 17% 2644 11256 2298 16% 14081 13396 11256 163 3327 112 105 3327 711 1.7 1.6
Slide 10: Financial highlights
Financial highlights First quarter 2021
Slide 11: Financial highlights Q1 2021
FINANCIAL HIGHLIGHTS Q1 2021 Cash generative business with 249 Revenue growth of 91% paired with MSEK of cash flow from operations Adj. EBIT margin of 33% after change in NWC Continuously strong financial position Leverage at conservative levels, 1.3x with a cash balance of 1,225 MSEK and below the
Slide 12: Income statement Q1 2021
INCOME STATEMENT Q1 2021 MSEK Q1 2021 Q1 2020 Net revenue 1 319 691 91% Platform fees -320 -189 70% Gross profit 999 502 99% Gross profit margin 76% 73% 3 pp User acquisition costs (UAC) -363 -148 145% UAC/Net revenue -28% -21% -6 pp Other external expenses -57 -53 8% Other external expenses/Net rev
Slide 13: Cash flow and balance sheet metrics
CASH FLOW AND BAL ANCE SHEET METRICS C A S H F L O W STAT E M E N T BAL ANCE SHEET METRICS 3500 MSEK 3 MSEK Q1 2021 Q1 2020 3116 Net debt, MSEK 3000 2.5 Cash flow from operations (before NWC) 387 120 222% Leverage ratio proforma 2500 Change in NWC -138 43 -423% 2 2000 1787 1814 Cash flow from operat
Slide 14: Summary & Operational update
Summary & Operational update First quarter 2021
Slide 15: Proactive approach to IDFA removal
APPLE’S IDFA CHANGES Proactive approach to IDFA removal • During April, Apple started rolling out changes to identifier for advertisers (IDFA) as a part of the iOS 14.5 update • Previously, 20-40% of iOS players chose to manually opt out from app tracking in iOS settings • As players now have to opt
Slide 16: Solid start to the year in line with our expectations
BUSINESS OUTLOOK Solid start to the year in line with our expectations • A solid start to 2021 with continued strong growth and high profitability, in line with our expectations • Strong pipeline of games entering soft launch in 2021 • Tough comparison numbers expected to lead to a negative organic
Slide 17: Stillfront Group
STILLFRONT GROUP