DGAP-News: Media and Games Invest plc
/ Key word(s): 9 Month figures/Quarter Results
Media and Games Invest; strong nine-month figures already exceed the full year 2019 - adjusted EBIT grows by 150%
Media & Games Invest plc ("MGI" or the "Company", ISIN: MT0000580101; Ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) exceeded expectations also in the third quarter 2020. Revenues increased by 29% to €35m and the adj. EBIT by 150% to €4m. Due to the strong performance we raised our forecast for 2020 for the second time this year at the beginning of November. We now expect revenues of up to €135m and up to €26m reported EBITDA
HIGHLIGHTS THIRD QUARTER 2020
SELECTED KEY PERFORMANCE INDICATORS, MGI GROUP
A WORD FROM REMCO WESTERMANN, CEO
We achieved a special milestone by end of Q3 with the acquisition of freenet Digital GmbH, which from the fourth quarter onwards will strongly boosts our mobile games revenues. While we expect PC and console games to further remain our strongest revenue generators, we also see strong growth potential in mobile gaming through organic growth, a.o. by enabling part of our existing games portfolio for mobile devices and by launching newly licensed mobile games, as well as through further acquisitions. Growth in mobile will also be strongly supported by the media unit via efficient user acquisition.
Another key milestone was the listing on Nasdaq First North Premier which we combined with a capital increase. With good trading volumes, gaming affine investors and many gaming peers we have high expectations from this listing, which was already proven by our capital increase being well oversubscribed.
Our expectations for the fourth quarter of 2020 are very positive, combining the usual strong positive seasonality of Q4 with a lot of activities in the games. Next to launching Atlas Rogue there will also be several other large updates in our games. Based on our strong Q3 as well as this positive outlook for Q4 we have increased our forecast, expecting full year 2020 consolidated revenues in the range of EUR 125 to 135 million and an reported EBITDA of EUR 23 to 26 million. This would correspond to YoY revenue growth between 49% and 61% and EBITDA growth between 48% and 67%.
In the coming quarters we are planning to further accelerate our organic growth. After our repositioning from end of 2012, we first mostly drove growth via M&A, with now cumulatively well over 30 acquisitions. We are seeing positive results from this, as YTD, our organic growth in the gaming portfolio increased to 16% YoY at the end of Q3. We expect a further increase of organic growth in the coming quarters.
Overall, the company is in a very good position to continue its profitable growth track and have sufficient cash and flexibility to take advantage of M&A opportunities. We are looking forward to the next quarters and I would like to thank all partners and investors as well as our employees for their trust and enthusiasm."
Chairman of the Board of Directors and CEO of Media and Games Invest Group
CEO Remco Westermann & CFO Paul Echt will hold an investor presentation today at 10 am CET and the presentation will also be available on-demand after the event on MGI's website.
Link to the audiocast:
For more information, please contact:
Jenny Rosberg, ROPA, IR contact Stockholm
Axel Mühlhaus / Dr. Sönke Knop, edictor, IR contact Frankfurt
About Media and Games Invest plc
Media and Games Invest plc (MGI), is a fast-growing and profitable company operating in the digital games sector with a strong supportive media unit and a focus on North America & EMEA. The company combines organic growth with value-accretive acquisitions, delivering strong and sustainable earnings growth. Since 2014 the MGI Group has successfully acquired more than 30 companies and assets which are integrated onto our platform, exploiting efficiency-enhancing technologies such as the cloud. The Company's shares are listed on Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange.
The Company's certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; email@example.com, +46-8-528 00 399.
30.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Media and Games Invest plc|
|St. Christopher Street 168|
|VLT 1467 Valletta|
|Phone:||+356 21 22 7553|
|Fax:||+356 21 22 7667|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Scale), Tradegate Exchange|
|EQS News ID:||1151360|
|End of News||DGAP News Service|