DGAP-News: gamigo AG: continues its growth course in Q3 2019 and already significantly exceeds EBITDA for the full year 2018 in the first nine months of 2019

2019. november 29., péntek, 12:13







DGAP-News: gamigo AG


/ Key word(s): 9 Month figures/Quarter Results






gamigo AG: continues its growth course in Q3 2019 and already significantly exceeds EBITDA for the full year 2018 in the first nine months of 2019








29.11.2019 / 12:13




The issuer is solely responsible for the content of this announcement.




gamigo AG continues its growth path in Q3 2019 and already significantly exceeds EBITDA for the full year 2018 in the first nine months of 2019


  • Revenues grow by 34 % to EUR 43.0 million in the first 9 months 2019

  • EBITDA increases in the first 9 months by 63% to EUR 12.3 million 2019

  • Operating cash flow improves by 33 % and grows to EUR 9.4 million in the first 9 months 2019

  • Successful integration of recent acquisitions almost completed



All figures in this release relate to unaudited consolidated gamigo group figures in accordance with IFRS

Hamburg, 29 November 2019 - gamigo AG ("gamigo", bond ISIN: SE0011614445), one of the leading publishers of online games in North America and Europe, continued to grow strongly in the first nine months of 2019 and increased its operating profit significantly over-proportionally. EBITDA and EBIT for the first nine months of 2019 were already well above the figures for the full year 2018. Revenues in the first nine months of 2019 rose by 34 percent to EUR 43.0 million compared with EUR 31.8 million in the same period of the previous year. Earnings before interest, taxes, depreciation and amortization, EBITDA, improved by 63 percent to EUR 12.3 million after EUR 7.9 million in the first nine months of 2018. The figure for the entire previous year was EUR 11.1 million. Earnings before interest and taxes tripled to EUR 4.7 million after EUR 1.6 million in the same period of the previous year. The total EBIT of the previous year amounted to 2.6 million Euro. At EUR 9.4 million, the operating cash flow was 33 percent above the figure for the same period in the previous year (EUR 7.1 million). Cash and cash equivalents as of 30 September 2019 totaled EUR 20.9 million, compared with EUR 4.2 million at the end of 2018.


In the third quarter of 2019, revenues increased by 41 percent to EUR 14.5 million, compared with EUR 10.2 million in the third quarter of the previous year. EBITDA improved by 72 percent to EUR 4.0 million after EUR 2.3 million in the previous year. Thus, growth in revenues and earnings continued in the third quarter. In addition to organic growth, the largely completed integration of the WildTangent and TrionWorlds acquisitions contributed to this very positive business development. The synergy effects generated by the integration have resulted in costs rising significantly less than revenues.


The outlook for further business development remains positive and gamigo expects the strong and profitable growth to continue. The launch of ArcheAge: Unchained in mid-October will generate additional organic growth in the fourth quarter and further promising launches are in preparation for the following quarters.


Remco Westermann, CEO of the gamigo Group: "Having successfully completed most of the integration of the last acquisitions in the first half of the year, which led to cost advantages and efficiency gains, the focus in the third quarter was mainly on organic growth. ArcheAge Unchained: was successfully launched in October and further promising game launches are in preparation for the coming quarters. With our liquid funds of around EUR 21 million, we have the financial resources to exploit the existing organic and inorganic growth opportunities. gamigo is thus ideally positioned for further strong growth.


The Q3 Report is available for download in the Investor Relations section of the gamigo AG website at: https://corporate.gamigo.com/en/investors/ 


This Corporate News is information that gamigo AG is required to publish pursuant to the Market Abuse Ordinance 596/2014 and the Securities Markets Act (2007:528). This information was published by the issuer listed below on 29.11.2019 at 12:00 noon.

About the gamigo group:

Since its founding in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. The gamigo group has over 350 employees at its headquarters in Hamburg, Germany, with offices in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Redwood City, Austin, Bellevue (USA), Toronto (Canada) and Seoul (Korea). The company"s core portfolio includes successful games titles such as ArchAge, Aura Kingdom, Defiance, Fiesta Online, Rift and Trove. gamigo is growing organically and through acquisitions and has made over 25 acquisitions since 2013, including games, media and technology companies as well as selected game assets.

Disclaimer:

This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of gamigo AG or companies associated with it. Various known and unknown risks and uncertainties, as well as other factors, could mean that the actual results, financial circumstances, the development or performance of gamigo AG and the companies associated with it may deviate significantly from the estimations presented here. Neither gamigo AG nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.

Press contact:

edicto GmbH

Axel Mühlhaus / Dr. Sönke Knop

Phone: +49 69 9055 05 51

E-Mail: gamigo@edicto.de

Company contact:

gamigo AG

Sören Barz, Investor Relations

ir@gamigo.com

Emitter:

gamigo AG

Behringstraße 16 B

22765 Hamburg

Germany

E-Mail: info@gamigo.com

Web-Page: www.gamigo.ag

 














29.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: gamigo AG

Behringstr. 16b

22765 Hamburg

Germany
Phone: +49 (0)40-411 885-0
Fax: +49 (0)40-411 885-255
E-mail: ir@gamigo.com
Internet: www.gamigo.ag
ISIN: SE0011614445
WKN: A2NBH2
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart, Tradegate Exchange; Stockholm
EQS News ID: 924781





 
End of News DGAP News Service





924781  29.11.2019 



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