MAG Interactive AB (publ) publishes Interim Report September – February 2021/2022
MAG shows its strongest second quarter in company history thanks to continuous improvements of its live games. ARPDAU increased by 23%, and net sales grew by 6% compared to the same period the previous year.
Summary of the period December 2021 – February 2022:
- The Group's net sales for the period were 76,772 KSEK (72,606 KSEK), an increase of 6% compared to the same period the previous year
- EBITDA for the period was 21,541 KSEK (10,332 KSEK)
- Adjusted EBITDA for the period was 21,256 KSEK (12,365 KSEK) (adjustments for EBITDA relate to effects from acquisition costs and social contribution costs from revaluation of option programs)
- The Group's game contribution for the period was 54,072 KSEK (42,049 KSEK), an increase of 29% compared to the same period the previous year
- Average revenue per daily active user (ARPDAU) for the period was 6.0 US cents (4.8 US cents), an increase of 23% compared to the same period the previous year
- The result per share during the quarter was 0.29 SEK/share (-0.08 SEK/share)
- The cost of user acquisition for the period was 13,981 KSEK (21,950 KSEK)
- Daily and monthly active users (DAU and MAU) were 1.55 million and 4.9 million respectively during the quarter, a decrease of 23% and 22% compared to the same period the previous year
Comment from the CEO in summary
“The second quarter of this financial year resulted in revenues of 77 MSEK (+6%) and an EBITDA of 22 MSEK (+108%). This is the best Q2 in our history in terms of revenues, and we generated a solid EBITDA margin of 28%. During the last three years we have continuously improved the average revenue per daily active user (ARPDAU), and this quarter was no exception. This important metric improved by 23% relative to the same period last year.
On the back of the strong performance of our live games, we have chosen to continue our ambitious investments in new game development as well as common technology for all our games. This is the foundation for continued growth and profitability for the coming years.
The continued improvements around Solo mode in QuizDuel once again delivered even better results than the previous quarter. There is still a lot of room for the game to grow given all the exciting things happening on the development side right now. The best is definitely yet to come for QuizDuel.
During Q2, we had six games in different stages, under development, four of which were in continued development since the previous quarter. One of these new games is developed by our Apprope studio and as of today, we are officially considering the game Tile Mansion a candidate for future global launch. Tile Mansion is built on Apprope’s Word Mansion framework and uses a Mahjong inspired core game play.
With so many new game projects in development and our colleagues back working together, the future of MAG looks more exciting than ever”, says Daniel Hasselberg, CEO at MAG Interactive.
Summary of the period September 2021 – February 2022 (6 months):
- The Group's net sales for the period were 146,610 KSEK (135,556 KSEK), an increase of 8% compared to the same period the previous year
- EBITDA for the period was 38,674 KSEK (19,622 KSEK)
- Adjusted EBITDA for the period was 38,389 KSEK (21,655 KSEK) (adjustments relate to effects from acquisition costs and social contribution costs from revaluation of option programs)
- The Group's game contribution for the period was 101,892 KSEK (80,515 KSEK), an increase of 27% compared to the same period the previous year
- The result per share during the period was 0.43 SEK/share (-0.08 SEK/share)
Presentation & Report
On April 6, 2022 at 10:00 CET, CEO Daniel Hasselberg and CFO Magnus Wiklander will present the Interim Report live on Twitch. The presentation will be held in English. Link to the Twitch feed: www.twitch.com/maginteractive. Daniel Hasselberg will also take questions on Twitter during the course of the day, write to @d_hasselberg or @maginteractive. For more information and to read the full report please visit https://www.maginteractive.com/investors/investor-relations/reports/.
This is information that MAG Interactive AB (publ) 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 below, at 08:00 on April 6, 2022.