Starbreeze Ab Class A · OMXSTO:STAR_A
Starbreeze Ab Class A — Q2 2022 Earnings Presentation
22 slides from Starbreeze Ab Class A's earnings presentation, Jun 30, 2022
Slide 1: Presentation 1 April–30 June 2022
PRESENTATION 1 APRIL–30 JUNE 2022
Slide 2: Today's presenters
Today’s presenters Tobias Sjögren, CEO Mats Juhl, CFO Background: Former CEO of White Wolf Entertainment, previous Background: CFO of Mips AB (publ.), CFO of Tengbomgruppen AB, positions at Paradox Interactive, Stardoll and international video CFO of Sweden Arena Management KB (Friends Arena), Finan
Slide 3: Stepping up to the next level
• HIGHLIGHTS • STARBREEZE & STRATEGY • THE BUSINESS • FINANCIALS Stepping up … … to the next level 3
Slide 4: Highlights
44 _ MigHLIcHTs “8
Slide 5: Summary Q2
HIGHLIGHTS Summary Q2 • PAYDAY 3, development according to plan • PAYDAY 2, MAU + 585k peak in Q2 • Net Revenue, in line with previous year 31.8 MSEK • EBITDA, 18.1 MSEK • New IP, started development of a new game-IP 5
Slide 6: Summary Q2
HIGHLIGHTS Summary Q2 • Net sales growth -0.8% SEKm Q2 2022 Q2 2021 R12M 2021 • PAYDAY -4.7% Net sales 31,764 32,010 121,052 125,689 Highest MAU during Q2 2022: 585,467 • Adj. EBITDA* increase SEK 1.3m EBITDA 18,106 -51,849 -328 6,268 • Profit before tax increase SEK EBITDA 18,106 16,823 58,182 74,9
Slide 7: Starbreeze & Strategy
= = STARBREEZE & STRATEGY
Slide 8: Long-term game developer, with a big community
STARBREEZE & STRATEGY Long-term game developer, with a big community FOUNDATION FUTURE GROWTH PAYDAY is one of the strongest Maximize the PAYDAY offer brands in the games industry • Complement with other type of video • Starbreeze a leading developer in games and platforms long-term value for its ga
Slide 9: Create value beyond the gaming experience
STARBREEZE & STRATEGY Create value beyond the gaming experience Our four pillars for success Developing Games as a games, IP and Service beyond A co-creating The place community to be 9
Slide 10: The Business
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Slide 11: The PAYDAY franchise
THE BUSINESS The PAYDAY franchise Co-op for PC and console PAYDAY franchise in gross sales >300m USD Installed base >36,000,000 DLCS and updates >230 Steam community members >8,300,000 11
Slide 12: PAYDAY 2 – KPI development
THE BUSINESS PAYDAY 2 – KPI development PAYDAY–Peak CCU per month PAYDAY 2–Base game vs DLC split PD2 Steam launch to date1 CCU per month % 70 000 100 4 46 55 53 78 71 67 73 76 79 96 60 000 80 50 000 60 40 000 54 30 000 40 47 45 20 000 33 20 29 27 22 24 10 000 21 0 0 2013 2014 2015 2016 2017 2018 20
Slide 13: A big community creates opportunities
THE BUSINESS A big community creates opportunities A key factor in PAYDAY’s success is the involvement of players in the product, which includes maintaining a close dialogue between developers and fans Breakdown of Starbreeze’s revenues “ Since 2018, the company has established the world’s largest g
Slide 14: Strong foundation for a successful launch of PAYDAY 3
THE BUSINESS Strong foundation for a successful launch of PAYDAY 3 A strong franchise built over eight years Launch of PAYDAY 3 Large installed base Strong reviews Well established Multiple platforms Games as a service community Simultaneous launch on A game designed around >36,000,000 89/100 PC and
Slide 15: A solid foundation to deliver and grow
THE BUSINESS A solid foundation to deliver and grow Roadmap 2022 2023–2024 2025 and beyond Core focus creates ... into a broadened IP ... to become a GaaS capacity for growth ... portfolio ... leader – building games, IP and beyond. • Secure PD3 development and quality • Launch of PD3 and focus on t
Slide 16: Financials
FINANCIALS
Slide 17: Revenue development – growth in PAYDAY
FINANCIALS Revenue development – growth in PAYDAY 97% 94% 96% 98% 90% 97% 99% 94% 32.1m 32.6m 27.9m 32.0m 34.7m 31.1m 23.5m 31.8m • Net sales for Q2 2022 totaled to SEK 31.8m SEKm (32.0m) 60,0 • PAYDAY negative 50,0 growth of -4.7% Q2 40,0 2,4 6,3 2022, compared to Q2 3,3 4,9 2021. 30,0 1,5 20,0 • O
Slide 18: Operating expenses
FINANCIALS Operating expenses Cost base development SEKm NOTE Q2-22 Q2-21 2021 A Direct costs for Q2 22 amounted to SEK 15.1m (14.2) and consist of Direct costs A 15,142 14,201 56,302 costs related to game production and game development. 10.9 million of direct cost relates to amortization and depre
Slide 19: EBITDA development
FINANCIALS EBITDA development SEKm 25 • EBITDA in Q2 2022 of 18.1m, 22,6 EBITDA margin of 57%, 19,9 4.4% higher than Q2 2021. 20 18,1 16,8* • EBITDA impacted by higher personell 15,5 15,6 cost for LTI, non activated personell 15 costs and increase in royalty 11,7 payments compared to 2021, offset by
Slide 20: Balance sheet
FINANCIALS Balance sheet Assets Liabilities As per June 30, 2022 As per June 30, 2021 • Intangible assets amounted to • Non-current liabilities SEK 499m and consist amounted to SEK 502m, SEKm SEKm primarily of IP rights SEK including 185.9m, capitalized costs for – Convertible debt of Current Curren
Slide 21: Cash flow development
FINANCIALS Cash flow development 1.1 Cash flow from SEKm YTD 2022 Operating activities after changes in 157,4 24,1 working capital, SEK 24.1m 128,6 2.2 Investing activities (game development), 86,3 82,8 SEK -66.0m - 66,0 - 0,6 69,3 3.3 Financing activities, SEK -0.6m (financing game development of 1
Slide 22: Thank you!
= THANK YOU!