DJ Media and Games Invest exceeds revenue and EBITDA targets significantly; announcement of preliminary financials for the fourth quarter and FY 2020.
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[Disclosure of inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 ]
Media and Games Invest exceeds revenue and EBITDA targets significantly; announcement of preliminary financials for the
fourth quarter and FY 2020
18 February 2021 - Media and Games Invest plc ("MGI" or the "Company", ISIN: MT0000580101; Ticker: M8G; Nasdaq First
North Premier Growth Market and Scale Segment Frankfurt Stock Exchange), accelerated its growth path in Q4 2020 and
outperformed its financial targets of EUR 125-135 million revenues and EUR 23-26 million EBITDA for the financial year
2020, which were most recently uplifted in November 2020. Preliminary revenues amount to EUR 140.2 million and adj.
EBITDA to EUR 29.1 million. Backed by an excellent Q4 2020 MGI was well above the upper end of the already uplifted
target range with EUR 5.2 million in terms of revenue and EUR 3.1 million in terms of adj. EBITDA. Based on the average
of the initial Guidance for 2020 (revenue: EUR 115-125m; EBITDA: EUR 20-23m) MGI outperformed its revenue-target by
16.8 percent and its EBITDA-target by 35.3 percent. Compared to the full financial year 2019 the revenue increased by
67 percent and the adj. EBITDA grew by 61 percent. Based on the strong operational development, MGI mandated Carnegie,
Jefferies, Swedbank in cooperation with Kepler Cheuvreux and Pareto Securities to evaluate potential further equity and
non-equity financing options to support further fast organic and non-organic growth.
Excellent Q4 2020: Revenue increased by 73 percent and EBITDA grew by 74 percent
Based on preliminary figures, revenue grew by 73 percent to EUR 48.7 million in Q4 2020 (Q4 2019: EUR 28.2 million) and
adjusted EBITDA1 grew by 74 percent to EUR 10.1 million (Q4 2019: EUR 5.8 million).The overall revenue and EBITDA
growth is also based on a continuously increasing organic growth in the media and games segment underscored by M&
A-growth.
For the Financial Year ended 31 December 2020, revenue and adjusted EBITDA2 amounted to EUR 140.2 million and EUR 29.1
million, respectively. Including the pro-forma-EBITDA from KingsIsle for 2020, the adjusted pro-forma-EBITDA would
amount to EUR 46.0 million.
As per 31 December 2020 net interest bearing debt3 amounted to EUR 61.6 million (31 December 2019: EUR 34.9 million)
resulting in a net leverage ratio4 of 2.1, as per 31 December 2020. The net interest bearing debt adjusted for the
capital increase with Oaktree and the paid purchase price payments for the KingsIsle and LKQD acquisition in January
2021 amounted to EUR 91.6 million, which leads to a net leverage ratio of 2.0 against the adjusted pro-forma-EBITDA of
EUR 46.0 million.
SELECTED KEY PERFORMANCE INDICATORS, MGI Group
In mEUR MGI Group MGI Group MGI Group MGI Group
Q4 2020 Q4 2019 FY 2020 FY 2019
Net Revenues 48.7 28.2 140.2 83.9
YoY Growth in revenues 73% - 67% -
Adj. EBITDA 10.1 5.8 29.1 18.1
Adj. EBITDA margins 21% 21% 21% 22%
EBITDA 9.0 4.1 26.5 15.5
EBITDA margins 19% 14% 19% 19%
In mEUR FY2020 Consensus Actuals vs FY 2020 Updated Actual vs Updated Initial Actual vs. FY'20
(A) Consensus Guidance FY'20 Guidance Guidance Initial Guidance
Net Revenues 140,2 131,9 +8,3 +6% 125-135 +10.2 +8% 115-125 +20.2 +17%
Adj. EBITDA 29,1 24,9 +4,2 +17% 23-26 +4.6 +19% 20-23 +7.6 +35%
All financials are preliminary and not reviewed by the auditor nor audited. MGI expects to publish its unaudited Year-End-Report on 25 February 2021.
Notes - All KPIs are defined according to MGI's latest financial report (Q3 2020) [Note (1) EBITDA: Earnings before interest, taxes, depreciation and amortization.]
[Note (2) Adjusted EBITDA: Reported EBITDA excluding one-time costs ]
[Note (3) Net interest bearing debt: Interest bearing Financial Indebtedness excluding Shareholder and Related Party Loans minus Cash and Cash Equivalents]
[Note (4) Net leverage ratio: Net Interest Bearing Debt divided by adjusted EBITDA for the past 12 months excluding Shareholder and Related Party Loans]
Responsible parties
This information is such information Media and Games Invest plc is obliged to make public in accordance with the (EU) Market Abuse Regulation 596/2014. The information in this release has been made public through the agency of the responsible persons set out below for publication at the time stated by MGI's news distributor EQS Newswire at the publication of this release. The responsible persons below may be contacted for further information.
For further information, please contact:
Remco Westermann
Chairman of the Board and CEO
+49 40 411 885206
Sören Barz
Leiter Investor Relations
+49 170 376 9571
soeren.barz@mgi.group, info@mgi.group
www.mgi.group
Jenny Rosberg, ROPA, IR contact Stockholm
Phone: +46707472741
Mail: Jenny.rosberg@ropa.se
Axel Mühlhaus / Dr. Sönke Knop, edicto GmbH, IR contact Frankfurt
Phone: +49 69 9055 05 51
Mail: mgi@edicto.de
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 well over 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 also has a bond listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market.
The Company's certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; info@fnca.se, +46-8-528 00 399.
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from MGI nor from someone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. MGI has not authorized any offer to the public of shares or other securities in any member state of the EEA and no prospectus has been or will be prepared in connection with the directed share issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.
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