Slide 1: Stillfront Group Q1 2025
Stillfront Group Q1, 2025 »
Slide 2: Expanding key franchises in Europe during 2025
Expanding key franchises in Europe during 2025 1 New game in Supremacy franchise based on major IP – expected to be announced in May 2 Launch of new game in Big franchise, building on the success of Sunshine Island 3 Soft launch of new game in Narrative franchise with the major IP Webtoon Early impr
Slide 3: Franchise spotlight: Supremacy
Franchise spotlight: Supremacy 1 Completed restructuring of studios as a full franchise organization. 2 Preparing Supremacy account and single sign in for best experience across all present and future games in the Franchise Supremacy 1914, getting a new game client with improved gameplay and visuals
Slide 4: Europe: Net revenues, UAC, Adj EBITDAC
Europe Net revenues UAC Adj EBITDAC (organic growth %) (UAC/Net revenue) (margin) 661 SEKm, (-14,1%) -243 SEKm, (37%) 130 SEKm, (20%) 1,000 7.5% -400 -60% 400 40% 750 1.5% -300 -45% 300 30% 500 -4.5% -200 -30% 200 20% 250 -10.5% -100 -15% 100 10% 0 -16.5% 0 0% 0 0% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24
Slide 5: North America: Net revenues, UAC, Adj EBITDAC
North America Net revenues UAC Adj EBITDAC (organic growth %) (UAC/Net revenue) (margin) 390SEKm, (-21,1%) -182SEKm, (47%) 35 SEKm, (9%) 600 0.0% -300 -80% 60 12% 450 -6.0% -225 -60% 45 9% 300 -12.0% -150 -40% 30 6% 150 -18.0% -75 -20% 15 3% 0 -24.0% 0 0% 0 0% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24
Slide 6: MENA & APAC: Net revenues, UAC, Adj EBITDAC
MENA & APAC Net revenues UAC Adj EBITDAC (organic growth %) (UAC/Net revenue) (margin) 493SEKm, (+2.0%) -23SEKm, (5%) 260 SEKm, (53%) 600 16.0% -40 -8% 300 60% 450 12.0% -30 -6% 225 45% 300 8.0% -20 -4% 150 30% 150 4.0% -10 -2% 75 15% 0 0.0% 0 0% 0 0% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q2
Slide 7: Financial highlights in the quarter
Financial highlights in the quarter Net revenues UAC Adj EBITDAC Free cash flow (organic growth %) (UAC/Net revenue) (margin) LTM 1,545 -448 SEKm, (-11.8%) SEKm, (29%) 402 SEKm, (26%) 1,107 SEKm 1,800 0.0% -800 -40% 600 40% 1200 1,600 -4.0% -600 -30% 450 30% 900 1,400 -8.0% -400 -20% 300 20% 600 1,2
Slide 8: Strong free cash flow generation in the quarter
Strong free cash flow generation in the quarter MSEK Q1 2025 Q1 2024 LTM LTM Cash flow from operations (before NWC) 388 349 Q1’25 Q1’24 Change in net working capital -51 -43 Cash flow from operations (CFFO) 337 305 Cash flow from investment activities -150 -160 Free cash flow 1,107 828 Cash flow fro
Slide 9: Financial position
Financial position Total debt profile Maturity profile Net debt, incl NTM cash earnouts SEKm SEKm SEKm (Leverage ratio*) 6,294 6,197 6,125 5500 3.0 5,872 5,656 514 2.5 1,690 5000 2,178 2,032 1,625 2.2 2.1 2.1 1,871 1.9 2.0 1.9 4500 1.5 2,860 4000 5,022 4,643 4,745 4,736 1.0 4,507 4,115 4,247 4,093 4
Slide 10: Cost optimization
Cost optimization SEK 200 – 250m annualised run-rate 70 50 37 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 10
Slide 11: Strategic review
Strategic review Stillfront launches a strategic review of certain 1 assets The aim of the strategic review is to unlock 2 shareholder value The strategic review may, for example, result in 3 selective divestment or discontinuation of certain assets within the group The strategic review will take th
Slide 12: Key focus going forward
Key focus going forward 1 Focusing investment on key game franchises 2 Successfully launch new games 3 Continue to deliver strong margins & cash flow 4 Execute on strategic review 12
Slide 13: Stillfront
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