Enad Global 7 Ab · OMXSTO:EG7
Enad Global 7 Ab — Q4 2022 Earnings Presentation
17 slides from Enad Global 7 Ab's earnings presentation, Feb 17, 2023
Slide 1: Investor Presentation Year-End and Q4 2022
I N V E S T O R P R E S E N TAT I O N Ye a r - E n d a n d Q 4 2 0 2 2
Slide 2: Financial Highlights
Financial Highlights • Q4 2022 • Net Revenue of SEK 559 (499) million, representing 12.0% YoY growth • Adjusted EBITDA of SEK 179 (92) million, representing 32% margin and 95% growth • Operating cash flows of SEK 114 million • Full Year 2022 • Net Revenue of SEK 1,866 (1,468) million, 27.1% growth a
Slide 3: A "Monster" Performance from Big Blue Bubble (BBB)
A “Monster” Performance from Big Blue Bubble (BBB) Record performance • Q4 Growth 607% • Net Revenue growth of 607% 200 G ro wt h • Adj EBITDA growth of 615% 180 • Full year Growth • Net Revenue growth of 184%, SEK 310 million 160 • Adj EBITDA growth of 234%, SEK 182 million 140 615% 120 Gro wt h Tr
Slide 4: My Singing Monsters' Transformational Growth
My Singing Monsters’ Transformational Growth (Figures in 000s) 11 129 1 420 938 172 4Q21 4Q22 4Q21 4Q22 Total New Users Average DAU (Y-o-Y) (Y-o-Y) 1,086% Growth 728% Growth
Slide 5: Operational Highlights – Game Segment
Operational Highlights – Game Segment • Financial performance highlights • Net Revenue of SEK 423 million, 83% growth, 47% FX neutral organic growth • Adjusted EBITDA of SEK 168 million, 169% growth YoY and 40% margin • Summary commentary • MSM was the key driver for Game Segment’s outsized performa
Slide 6: Operational Highlights – Service Segment
Operational Highlights – Service Segment • Key figures • Net Revenue of SEK 136 million, representing 49% decline • Adjusted EBITDA of SEK 14 million, representing a 10% margin • Summary commentary • Q4 Net Revenue decline of 49% is due to issues with comparability • In 2021, 48% of full year Net Re
Slide 7: Transition to WFH Business
Transition to WFH Business • Full pivot to WFH for non-live game studios • Financial impact • WFH prioritized over 1st party titles under • Write down of SEK 308.6 million of capitalized development using new unproven IPs or R&D as of 31-Dec-2022 subscale IPs with limited audience • While WFH staffi
Slide 8: Q4 2022 Financial Discussion
Q4 2022 FINANCIAL DISCUSSION
Slide 9: Net Revenue and Adjusted EBITDA
Net Revenue and Adjusted EBITDA MSEK Q UA RT E R LY LT M 600 559 100% 2 000 1 866 100% 1 806 499 90% 1 800 1 716 90% 500 463 1 564 444 80% 1 600 1 468 80% 400 70% 400 1 400 70% 60% 1 200 60% 300 50% 1 000 50% 40% 800 40% 32% 200 27% 26% 25% 179 30% 600 22% 30% 18% 22% 21% 22% 18% 107 113 483 20% 400
Slide 10: Net Revenue by segment
Net Revenue by segment MSEK LTM NET REVENUE NET REVENUE 136 622 708 754 556 611 268 192 150 1 122 144 876 952 779 818 423 1 052 1 243 270 295 912 953 1 007 256 231 4Q21 1Q22 2Q22 3Q22 4Q22 4Q21 1Q22 2Q22 3Q22 4Q22 Game Service Game Service Sustainable Revenue NET REVENUE MIX LTM NET REVENUE MIX 34%
Slide 11: Game Segment – Q4 2022 Net Revenue and Adj EBITDA Mix
Game Segment – Q4 2022 Net Revenue and Adj EBITDA Mix MSEK Q4 Net Revenue Contribution 450 423 100% Daybreak 199 47% 400 90% Big Blue Bubble 193 46% 350 80% Piranha 25 6% 295 70% 300 270 Toadman & AMG 6 1% 256 231 60% Game Segment total 423 100% 250 50% 200 40% 33% 34% 40% Q4 Adj EBITDA Contribution
Slide 12: Service Segment – Q4 2022 Net Revenue and Adj EBITDA Mix
Service Segment – Q4 2022 Net Revenue and Adj EBITDA Mix MSEK QUARTERLY 300 100% 268 90% 250 Q4 Net Revenue Contribution 80% Fireshine 77 57% 192 70% 200 Petrol 59 43% 60% Service Segment total 136 100% 144 150 150 136 50% 40% 100 Q4 Adj EBITDA Contribution 22% 30% Fireshine 10 77% 18% 14% 13% 20% P
Slide 13: Figures in perspective
Figures in perspective 2022 Dec. Incl: 86 MSEK MSEK MTGO LTM NET REVENUE MSEK 600 559 100% 2000 1866 499 90% 1800 500 463 1600 444 80% 1468 400 70% 1400 400 60% 1200 300 50% 1000 40% 800 27% 32% 200 600 25% 179 30% 18% 18% 107 113 20% 400 100 92 84 10% 200 - 0% 0 4Q21 1Q22 2Q22 3Q22 4Q22 Jan Feb Mar
Slide 14: Strong balance sheet
Net Debt to EBITDA ratio and cash MSEK 700 654 0,4 600 534 484 557 493 0,3 0,3 0,3 499 Q4 cash flow 500 449 0,2 381 408 400 0,1 Cash OB 654 0,1 300 Operation +114 188 - 200 Investing -47 - 0,1 Financing -299 100 -0,4 - 0,2 Currency fluctuations in liquidity -15 - Delta Cash -246 - 100 - 0,3 Cash CB
Slide 15: Summary
S U M M A RY
Slide 16: Summary Remarks
Summary Remarks • A record year, successfully overcoming big challenges • SEK 1.87 billion of Net Revenue for the year, growing 27% YoY • SEK 483 million of Adjusted EBITDA at 25.9% margin • My Singing Monsters established as another “superstar” brand for the group • #1 top grossing music game in bo
Slide 17: Q&A
Q&A