Stillfront Group Ab · OMXSTO:SF
Stillfront Group Ab — Q4 2020 Earnings Presentation
17 slides from Stillfront Group Ab's earnings presentation, Feb 17, 2021
Slide 1: A leading free-to-play powerhouse
A leading free-to-play powerhouse Year-end report Fourth quarter and full year 2020
Slide 2: Stillfront at a glance
STILLFRONT AT A GLANCE A leading free-to-play powerhouse of 19 gaming studios creating significant operational synergies 22 million 22 million MAUs and 4 million DAUs1 A diverse and evolving game portfolio Main markets by revenue are US, with two common themes; loyal users Germany, MENA, UK and Fran
Slide 3: Global presence and 19 game studios
GLOBAL PRESENCE 1 19 GAME STUDIOS Europe 37% North Am 48% Asia 10% Africa 1% B South Am 2% Oceania 3% Sales Offices 3 1) Per December 31st, does not include sales or offices from Sandbox Interactive, Super Free Games or Moonfrog Labs.
Slide 4: Net revenue, UAC development
NET REVENUE, UAC DEVELOPMENT Net Revenue, MSEK UAC, MSEK UAC, % of Net Revenue 3991 1192 3462 19% 1027 1080 2952 18% 18% 16% 20% 2240 19% 691 1967 551 20% 21% 20% 19% 216 215 635 743 148 164 397 438 554 107 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 LTM LTM LTM LTM LTM COMMENTS Net
Slide 5: Adj. EBIT development
ADJ. EBIT DEVELOPMENT Adj. EBIT, MSEK Adj. EBIT, % of Net Revenue 1493 463 1272 419 399 37% 39% 1028 41% 37% 37% 732 35% 213 645 177 33% 31% 33% 32% Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 LTM LTM LTM LTM LTM COMMENTS Adj. EBIT growth of Adj. EBIT in relation to revenue • Continu
Slide 6: Active portfolio: Total
ACTIVE PORTFOLIO: TOTAL MAU (‘000) +274% YoY MPU (‘000) +278% YoY DAU (‘000) +215% YoY Bookings (MSEK) +95% YoY ARPDAU (SEK) -38% YoY UAC (MSEK) +101% YoY 22794 21658 UAC, % of Bookings 4699 19602 4253 846 877 4145 1170 1170 811 1046 18% 950 950 21% 664 664 17% 9785 2214 365 537 504 537 22% 5795 135
Slide 7: Active portfolio: Strategy
ACTIVE PORTFOLIO: STRATEGY MAU (‘000) +1% YoY MPU (‘000) +16% YoY DAU (‘000) +3% YoY Bookings (MSEK) +13% YoY ARPDAU (SEK) +9% YoY UAC (MSEK) +7% YoY UAC, % of Bookings 3349 116 600 2853 111 531 2712 2752 2735 100 100 496 513 96 477 398 318 310 338 299 19% 6,6 6,6 7,3 7,1 7,2 20% 17% 17% 18% 54 63 7
Slide 8: Active portfolio: Simulation, RPG & Action
ACTIVE PORTFOLIO: SIMULATION, RPG & ACTION MAU (‘000) +149% YoY MPU (‘000) +112% YoY DAU (‘000) +69% YoY Bookings (MSEK) +56% YoY ARPDAU (SEK) -7% YoY UAC (MSEK) +95% YoY UAC, % of 373 1442 7668 288 Bookings 1273 322 28% 5364 972 1024 242 21% 257 197 239 855 153 164 19% 3604 3454 136 22% 28% 3083 10
Slide 9: Active portfolio: Casual & Mash-up
ACTIVE PORTFOLIO: CASUAL & MASH -UP MAU (‘000) MPU (‘000) DAU (‘000) Bookings (MSEK) ARPDAU (SEK) UAC (MSEK) UAC, % of 533 546 2827 Bookings 450 14081 2644 13396 478 383 2298 16% 11256 334 17% 16% 3327 112 711 105 72 64 54 1,6 1,7 1,6 1,6 16% 17 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q1'20 Q2'20 Q3'20
Slide 10: Financial highlights Q4
FINANCIAL HIGHLIGHTS Q4 Cash generative business with 281 Revenue growth of 96% paired with MSEK of free cash flow prior to Adj. EBIT margin of 37% acquisitions and financing Continuously strong financial position with a cash balance of 1,005 MSEK and an Leverage ratio below the group’s undrawn long
Slide 11: Income statement Q4 2020
INCOME STATEMENT Q4 2020 MSEK Q4 2020 Q4 2019 Net revenue 1 080 551 96% OWC and Other Revenue 91 67 36% Total revenues 1 172 618 90% Platform Fees -291 -142 105% Gross Margin % 73% 74% -1 pp User acquisition costs -215 -107 101% UAC/net revenues % -20% -19% 0 pp Other external expenses -43 -49 -12%
Slide 12: Income statement full year 2020
INCOME STATEMENT FULL YEAR 2020 MSEK FY 2020 FY 2019 Net revenue 3 991 1 967 103% OWC and Other Revenue 343 208 65% Total revenues 4 334 2 175 99% Platform Fees -1 103 -506 118% Gross Margin % 72% 74% -2 pp User acquisition costs -743 -397 87% UAC/net revenues % -19% -20% 2 pp Other external expense
Slide 13: Balance sheet Q4 2020
BALANCE SHEET Q4 2020 MSEK Q4 2020 Q3 2020 31 Dec 2019 Intangible non-current assets 10 751 8 608 25% 3 293 Tangible non-current assets 113 110 3% 76 Deferred tax assets & current receivables 497 1 273 -61% 341 Cash and cash equivalents 1 005 1 052 -4% 342 Total assets 12 366 11 043 12% 4 052 Total
Slide 14: Cash flow Q4 and full year 2020
CASH FLOW Q4 AND FULL YEAR 2020 MSEK Q4 2020 Q4 2019 FY 2020 FY 2019 Cash flow as reported Cash flow from operations 413 131 215% 1 251 484 158% Cash flow from investment activities -1 010 -86 1070% -4 737 -1 251 279% Cash flow from financing activities 599 -77 -879% 4 214 861 390% Cashflow for the
Slide 15: Summary fourth quarter 2020 and full-year 2020
SUMMARY FOURTH QUARTER 2020 SUMMARY FULL-YEAR 2020 High speed ended 2020 Building the leading F2P powerhouse • Continued strong growth and high • Further strengthening and leveraging the profitability in the fourth quarter Stillfront platform for long-term growth • High volatility in the prices of o
Slide 16: Outlook 2021
OUTLOOK 2021 Business outlook • Positive start to the year: strong performance across our game portfolio in January • Tough comparison numbers short-term due to strong positive impact from Covid- 19 in the same period last year • Strong business momentum and exciting B opportunities ahead: • 20+ upc
Slide 17: Stillfront Group
STILLFRONT GROUP