Stockholm, Sweden (May 21, 2024) - Maximum Entertainment AB (Nasdaq: MAXENT B) today released its interim report for the first quarter of 2024. This is the first report the company releases in the Euro currency and under the IFRS format.
Net Sales for the quarter amounted to KEUR 19,900 compared to KEUR 16,363 for Q1 2023, an increase of 22%. Adjusted EBITDA for Q1 2024 is KEUR 1,787, up from KEUR 319 for the same period in 2023, representing a 460% increase year on year. EBIT and Adjusted EBIT for Q1 were KEUR -646. Share of revenue derived from Owned IPs in Q1 2024 was 13% compared to 7% over the same period last year, and the number of employees at the end of the period was 193, a decrease of 19% year on year.
SUMMARY JANUARY - MARCH 2024
- Net sales for the quarter amounted to KEUR 19,900 (KEUR 16,363 in Q1 2023)
- Share of revenue derived from Owned IP amounted to 13% (7% in Q1 2023)
- Gross margin as a percentage of Net sales amounted to 32% (30% in Q1 2023)
- Adjusted EBITDA for the quarter amounted to KEUR 1,787 (KEUR 319 in Q1 2023)
- EBIT for the quarter amounted to KEUR -646 (KEUR -266 in Q1 2023)
- Cash flow from operating activities before the change in working capital for the quarter amounted to KEUR 1,468 (KEUR -83 in Q1 2023)
HIGHLIGHTS DURING THE FIRST QUARTER OF 2024
Launches
- Smalland: Survive the Wilds 1.0 release on PC, PS5, and Xbox Series X|S
Announcements
- Brand-new partnership with Paramount Game Studios, developing a multiplayer fighting game focused on Nickelodeon's Avatar: The Last Airbender franchise
- Smalland: Survive the Wilds VR
- Publisher announcement - Selfloss
- First reveal of Leo: The Firefighter Cat
Other
- TP ICAP and Portzamparc - BNP Paribas Group initiated coverage of Maximum Entertainment
- Maximum Entertainment unified publishing labels and unveiled 2024 roadmap
HIGHLIGHTS AFTER THE FIRST QUARTER OF 2024
Launches
- Smalland VR launch
- Morbid: The Lords of Ire launch
- Double Dragon Gaiden: Rise of the Dragons free DLC "Sacred Reunion"
- Hammerwatch II release on PS4 and Xbox Series X|S
- Whisker Waters release on PC, Nintendo Switch, and PS5
Announcements
- Selfloss platform reveal - PlayStation 5, Xbox Series X|S
- SunnySide release date (July 10)
- Hot Lap Racing release date (July 16)
Other
- Liquidity Provider changed to Pareto Securities AB
- Board resolution on two directed share issues as earn-out payments for Maximum Games and Merge Games
This report, together with previously published reports, is available on the Maximum Entertainment webpage: https://maximument.com/investor-relations/
For more information about Maximum Entertainment, please visit: www.maximument.com.
This information is information that Maximum Entertainment is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-21 07:30 CEST.
For More Information, please contact:
Christina Seelye, CEO
E-mail: ceo@maximument.com | Tel: +46 8 490 094 98
Deborah Bellangé, CFO
E-mail: cfo@maximument.com | Tel: +46 8 490 094 98
For more information regarding the company and investments, please contact ir@maximument.com.
Certified Adviser
Augment Partners AB, info@augment.se, tel +46 (0) 8 604 22 55, is Maximum Entertainment AB's Certified Adviser.
About Maximum Entertainment
Maximum Entertainment is a global entertainment company dedicated to crafting indie to AA video game experiences through original content and licensed partnerships.?A fully integrated group with a broad portfolio of content, the company emphasizes collaboration and inclusivity in its partnerships to produce the highest level of interactive entertainment. With more than 300 titles in its catalog, Maximum Entertainment has joined forces with talented creators and renowned franchises around the globe to deliver magic to the gamer in everyone. Maximum Entertainment employs experienced professionals across the entire value chain of video games including development, publishing, transmedia, sales, and operations. Visit Maximum Entertainment at?www.maximument.com.
