Stillfront Group Ab · OMXSTO:SF
Stillfront Group Ab — Q2 2020 Earnings Presentation
16 slides from Stillfront Group Ab's earnings presentation, 2020
Slide 1: A leading free-to-play powerhouse – Interim report Q2 2020
A leading free-to-play powerhouse Interim report Second Quarter 2020
Slide 2: Today's presenters
TODAY´S PRESENTERS Jörgen Larsson Andreas Uddman CEO CFO jorgen@stillfront.com andreas@stillfront.com 2
Slide 3: Stillfront at a glance
STILLFRONT AT A GLANCE A leading free-to-play powerhouse of 14 gaming studios creating significant operational synergies 23 million 23 million MAUs and 5 million DAUs A diverse and evolving game portfolio Main markets by revenue are US, with two common themes; loyal users Germany, MENA, UK and Canad
Slide 4: Global presence – 14 game studios
GLOBAL PRESENCE 14 GAME STUDIOS Europe 33% North Am 48% Asia 13% Africa 1% South Am 2% Oceania 3% Sales Offices 4 Note: Candywriter included since May 1, 2020.
Slide 5: Net revenue, UAC development
NET REVENUE, UAC DEVELOPMENT Net Revenue, MSEK UAC, MSEK UAC, % of Net Revenue 2952 1192 19% 18% 2240 1967 1782 20% 691 1579 20% 551 20% 480 517 21% 22% 16% 19% 554 21% 216 365 397 438 99 107 148 346 83 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 LTM LTM LTM LTM LTM • Revenue growth
Slide 6: Adj. EBIT development
ADJ. EBIT DEVELOPMENT Adj. EBIT, MSEK Adj. EBIT, % of Net Revenue 463 1028 39% 35% 732 604 645 527 33% 213 34% 33% 167 175 177 33% 31% 35% 34% 32% Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 LTM LTM LTM LTM LTM Adj. EBIT growth of Adj. EBIT in relation to revenue • Adj. EBIT growth d
Slide 7: Active portfolio: Total
ACTIVE PORTFOLIO: TOTAL MAU (‘000) +306% YoY MPU (‘000) 352% YoY DAU (‘000) +270% YoY Bookings (MSEK) +160% YoY ARPDAU (SEK) -30% YoY UAC (MSEK) +126% YoY 22794 4699 UAC, % of Bookings 846 1170 18% 9785 2214 664 365 504 537 450 22% 5612 5094 5795 232 1269 1262 1351 20% 187 207 3.3 16% 216 2.7 21% 14
Slide 8: Active portfolio: Strategy
ACTIVE PORTFOLIO: STRATEGY MAU (‘000) +12% YoY MPU (‘000) +23% YoY DAU (‘000) +10% YoY Bookings (MSEK) +23% YoY ARPDAU (SEK) +12% YoY UAC (MSEK) +43% YoY UAC, % of Bookings 3349 2985 116 600 2712 2853 544 531 2482 94 96 100 491 496 398 93 322 299 318 279 19% 6.5 6.6 6.6 7.3 17% 20% 6.2 15% 18% 53 54
Slide 9: Active portfolio: Simulation, RPG & Action
ACTIVE PORTFOLIO: SIMULATION, RPG & ACTION MAU (‘000) +104% YoY MPU (‘000) +113% YoY DAU (‘000) +76% YoY Bookings (MSEK) +153% YoY ARPDAU (SEK) +44% YoY UAC (MSEK) +61% YoY 1273 UAC, % of Bookings 322 5364 197 21% 972 239 242 3604 153 855 225 3083 136 725 771 22% 28% 2626 2612 114 17% 93 127 3.2 3.0
Slide 10: Active portfolio: Casual & Mash-up
ACTIVE PORTFOLIO: CASUAL & MASH-UP MAU (‘000) MPU (‘000) DAU (‘000) Bookings (MSEK) ARPDAU (SEK) UAC (MSEK) UAC, % of Bookings 533 450 14081 2827 16% 3327 112 711 105 1.7 72 1.6 16% 17 Q4'19 Q1'20 Q2'20 Q4'19 Q1'20 Q2'20 Q4'19 Q1'20 Q2'20 Q4'19 Q1'20 Q2'20 COMMENTS 8 100% • Totals 38% of bookings in
Slide 11: Financial highlights Q2
FINANCIAL HIGHLIGHTS Q2 Revenue growth of 148% - further Cash generative business with 228 increased revenue diversification MSEK of free cashflow prior to paired with Adj. EBIT margin of 39% acquisitions and financing Strong financial position following 1,200 MSEK rights issue Leverage ratio clearl
Slide 12: Income statement Q2 2020
INCOME STATEMENT Q2 2020 MSEK Q2 2020 Q2 2019 Net revenue 1 192 480 148% OWC and Other Revenue 88 41 115% Total revenue 1 280 521 146% Platform Fees -343 -122 181% Gross Margin % 71% 75% 3 pp User Acquisition Cost -216 -99 118% UAC/net revenue % -18% -21% -3 pp Other external expenses -47 -27 74% Pe
Slide 13: Balance sheet Q2 2020
BALANCE SHEET Q2 2020 MSEK Q2 2020 Q1 2020 31 Dec 2019 Intangible non-current assets 8 897 7 852 13% 3 293 Tangible non-current assets 2 541 2 388 6% 1 158 Deferred tax assets & current receivables 720 642 12% 341 Cash and cash equivalents 936 472 98% 342 Total assets 10 679 9 072 18% 4 052 Total Sh
Slide 14: Cash flow Q2 2020
CASH FLOW Q2 2020 MSEK Q2 2020 Q2 2019 Q2 2020 LTM Q2 2019 LTM Cash flow as reported Cash flow from operations 344 140 145% 752 410 83% Cash flow from investment activities -469 -1 037 -55% -3 018 -1 386 118% Cash flow from financing activities 609 949 -36% 2 890 1 216 138% Cash flow for the period
Slide 15: At the forefront of the converging gaming industry
AT THE FOREFRONT OF THE CONVERGING GAMING INDUSTRY 1 Increased addressable market Mirroring the industry composition group Well-diversified product-mix 14 38 Solid presence in largest game genres (Mid-Core & Casual) Strong growth across all three product areas Stillfront’s platform realizing synergi
Slide 16: Stillfront Group
STILLFRONT GROUP