In This Article:
Press Release, Feb 22, 2018
Year End Report January-December 2017
STILLFRONT GROUP AB (PUBL)
The Year January - December 2017
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The scope of this year end report is Stillfront Group excluding Goodgame Studios. Goodgame Studios will be consolidated from January 2018. A pro forma income statement and balance sheet for the new group structure is presented in the investor presentation published on the company`s website.
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Net revenues amounted to 166.0 MSEK (2016:94.8 MSEK), which is an increase of 75% compared to the full year 2016.
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EBITDA excluding effects of revaluations of conditional contingent considerations amounted to 52.3 MSEK (34.3 MSEK), which is an increase of 53%. EBITDA including effects of revaluations of conditional contingent considerations amounted to 135.3 MSEK (34.3). Further, EBITDA has increased due to a written-off debt and has been charged with acquisition costs, costs pertaining to improved IT infrastructure at Bytro, conversion to IFRS, acquisitions and move to Nasdaq First North Premier however with no net effect on the profit and loss.
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Operating result after financial items amounted to 92.6 MSEK (23.4 MSEK). The increase is mainly caused by the revaluation of the conditional contingent considerations. The net result for the year amounted to 91.4 MSEK (21.0 MSEK).
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Net result per share before dilution amounted to 14.35 SEK (2.89 SEK). Net result per share after dilution amounted to 14.15 SEK (2.86 SEK).
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As of December 31, cash and cash equivalents amounted to 65.9 MSEK (35.8).
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The board proposes that the annual profit be appropriated by profit carried forward.
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Stillfront issued a bond loan amounting to MSEK 110 within a frame of MSEK 500 in May.
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The acquisition of eRepublik Labs Limited was announced May 30 and completed June 27.
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The trade in the Stillfront share was moved to First North Premier in June.
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An asset acquisition of Online Fussball Manager was made in July.
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Acquisition agreement for Altigi GmbH was entered in December. The acquisition was completed in January 2018.
The Quarter October - December 2017
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Net revenues amounted to 53.2 MSEK (corresponding period 2016: 24.6 MSEK), which is an increase of 116% compared to the fourth quarter 2016.
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EBITDA amounted to 15.4 MSEK (6.8) excluding effects of revaluations of conditional contingent considerations. EBITDA including effects of revaluations of conditional contingent considerations amounted to 98.4 MSEK (6.8 MSEK).
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Operating result after financial items amounted to 81.3 MSEK (1.2 MSEK). The increase is mainly caused by the revaluation of the conditional contingent considerations. The net result amounted to 82.7 MSEK (7.7 MSEK).
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Earnings per share before dilution amounted to 12.83 SEK (1.39 SEK). Earnings per share after dilution amounted to 12.64 SEK (1.37 SEK).
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Acquisition agreement for Altigi GmbH was entered in December. The acquisition was completed in January 2018.