Media and Games Invest (MGI) hits the 100 million Euro revenue on a 12-month basis and grows in the 2nd quarter with 97 percent compared to the previous year
– Revenues in Q2 2020 grows by 97 percent to EUR 30.0 million (Q2 2019: EUR 15.2 million)
– EBITDA increases by 68 percent to EUR 6.3 million (Q2 2019: EUR 3.8 million)
– 12-month revenue climbs to EUR 111.9 million
– Revenue target for 2020 raised to EUR 115 to EUR 125 million (2019: EUR 83.9 million)
– EBITDA to rise to EUR 20 to EUR 23 million in 2020 (2019: EUR 15.5 million)
August 03, 2020 – Media and Games Invest plc (“MGI”, ISIN: MT0000580101; Symbol: M8G; Scale, Frankfurt Stock Exchange) has, according to preliminary, unaudited figures, again strongly increased its revenues and EBITDA in the second quarter of 2020 and generated revenues of EUR 111.9 million in the past twelve months – organically and through acquisitions (full year 2019: EUR 83.9 million). EBITDA in the past 12 months amounted to EUR 19.6 million (full year 2019: EUR 15.5 million).
Q2 2020 revenues grow by 97 percent to EUR 30.0 million (Q2 2019: EUR 15.2 million)
– The number of new players in the gaming segment continued to increase in the 2nd quarter. As a result, gaming revenues also continued to grow organically. At the same time, the focus on a digital customer base leads to a positive development of revenues in the Media segment as well, despite the ongoing corona crisis.
EBITDA increased by 68 percent to EUR 6.3 million in Q2 2020 (Q2 2019: EUR 3.8 million)
– After the successful integration of the last acquisitions in the second quarter, EBITDA increased by 68 percent to EUR 6.3 million (Q2 2019. EUR 3.8 million). In particular, the integration of the Media segment under the leadership of the Verve Group provides further synergy effects in the coming periods, which should lead to improved profitability.
On this basis, MGI has raised its forecast for the full year 2020: The revenue target increases to EUR 115 to EUR 125 million euros. This corresponds to a growth of +37 percent to +49 percent. At the same time, the EBITDA for 2020 is expected to rise to between EUR 20 million and EUR 23 million (2019: 15.5) – an increase of 29 percent to 48 percent. “Our new targets for 2020 reflect the potential of our current structure – not including further acquisitions”, says CEO Remco Westermann.
The figures are consolidated in IFRS, preliminary and unaudited. The publication of the full Q2 2020 interim financial statements is scheduled for August 12, 2020.
About Media and Games Invest plc:
Media and Games Invest plc, MGI, is a fast and profitable growing company in the synergetic sectors of digital media and online games. The company combines organic growth with value-generating acquisitions. The MGI Group has successfully acquired over 30 companies and assets over the past six years. The acquired assets and companies are integrated and amongst others technology is actively used to achieve efficiency gains 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 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.
Axel Mühlhaus / Dr. Sönke Knop
Telephone: +49 69 9055 05 51
Media and Games Invest plc
Sören Barz, Head of Investor Relations
St. Christopher Street 168
Valletta VLT 1467, Malta