gamigo AG publishes audited consolidated financial statements
Group revenues increase by 30 % to EUR 59 million
EBITDA increases over proportionally by 48% to EUR 16 million
gamigo also expects furtherprofitable growth for 2020
MGI expects additional opportunities for acquisitions
April 27, 2020 – Media and Games Invest plc (“MGI”, ISIN: MT0000580101; Symbol: M8G) continues its profitable growth with its 99% subsidiary gamigo AG, as confirmed by gamigo’s audited consolidated financial statements: being a leading publisher of online games in North America and Europe, the company has improved all of its key figures:
- Revenues: EUR 59 million; + 30% (2018: EUR 45 million)
- EBITDA: EUR 16 million; + 48% (2018: EUR 11 million)
- EBIT: EUR 6.3 million; + 142% (2018: EUR 2.6 million)
- Net result: EUR 2.0 million; + 22% (2018: EUR 1.6 million)
- EBITDA: margin 28%; + 17% (2018: 24%)
- EBIT: margin 11%; + 83% (2018: 6%)
The complete annual report for the fiscal year 2019 is now available for download on gamigo’s investor relations website.
The gamigo Group started well into the current financial year with the acquisition of the main assets of the media company Verve. In addition to further strengthening the user acquisition capabilities for gamigo’s games portfolio, there are substantial synergies – both in terms of revenues and costs – with the other activities of MGI.
As previously reported, game revenues are developing very positively due to the stay-at-home policy. Even a recession that might follow the Corona crisis, would have a rather positive effect on revenue and profit development based on historical experience. Overall, gamigo therefore expects to continue it’s structural growth in 2020.
Remco Westermann, CEO “I am very happy about gamigo’s good results and the positive future prospects. We are in an interesting time, which shows how quickly people and also companies can adapt to new circumstances. I am glad to see that our productivity remains stable under the home office policy. We are currently seeing strong changes on the M&A side. Companies that are not profitable or face financing challenges will struggle in the current market. We are increasingly receiving enquiries for financing and acquisitions and expect a further increase in this respect in the coming weeks. Having substantial cash in our accounts, we believe that good opportunities will arise for us, although due diligence procedures are somewhat more difficult due to the circumstances. ”
About Media and Games Invest plc:
Media and Games Invest plc, MGI, is a fast and profitable growing company in the digital media and games sectors. The company comines organic growth with value-generating synergetic acquisitions, MGI continues to demonstrate strong profitable growth. In the past 6 years, the MGI Group has successfully acquired more than 30 companies and assets. The acquired assets and companies are consequently integrated, and amongst others cloud technologies are implemented to generate efficiency improvements and competitive advantages. Media and Games Invest is listed on the Frankfurt Stock Exchange and on XETRA.
This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of Media and Games Invest plc 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 Media and Games Invest plc and the companies associated with it may deviate significantly from the estimations presented here. Neither Media and Games Invest plc nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.
Media and Games Invest plc
Sören Barz, Head of Investor Relations
St. Christopher Street 168
Valletta VLT 1467, Malta
Axel Mühlhaus / Dr. Sönke Knop
Telephone: +49 69 9055 05 51