Starbreeze AB (publ) Interim report Q3 2018

06 November 2018 / / Corporate News,Regulatory Releases

Today at 10.00 am CET, Starbreeze CEO Bo Andersson Klint and CFO Sebastian Ahlskog will host a live stream and present the report on Starbreeze Youtube channel: https://www.youtube.com/starbreeze

Third quarter 2018      

  • Net sales amounted to SEK 33.9 million (77.7), of which PAYDAY accounted for SEK 20.9 million (24.4).
  • EBITDA amounted to SEK -37.9 million (-21.9).
  • Depreciation and amortization totaled SEK 49.5 million (17.1).
  • The loss before tax amounted to SEK -102.3 million (-35.3).
  • Basic and diluted earnings per share were SEK -0.26 (-0.11).
  • Decision to release the console version of OVERKILL’s The Walking Dead in February 2019.
  • Decision by extraordinary general meeting on 14 September to approve the amended terms and conditions of convertible instrument of SEK 75.5 million issued to Acer with a one-year repayment plan. 
  • Mobile game PAYDAY: Crime War in beta release.

The nine-month period 2018

  • Net sales increased by 4 percent to SEK 267.5 million (257.7), of which PAYDAY accounted for SEK 77.3 million (99.9). 
  • EBITDA amounted to SEK 63.4 million (-59.9).
  • The loss before tax amounted to SEK -82.5 million (-108.3).
  • Basic and diluted earnings per share were SEK -0.15 (-0.33).
  • Cash and cash equivalents at the end of the period amounted to SEK 147.5 million (431.5).

After the end of the period

  • Release of OVERKILL’s The Walking Dead for PC on the Steam platform today, the 6th of November.
  • Sebastian Ahlskog stepped down as CFO and Mika Reini was appointed Acting CFO.

CEO Bo Andersson Klint remarks on the report:
As we previously communicated, the sale of the publishing rights to Dead by Daylight closed on 30 June. Consequently, revenues during the quarter were derived virtually exclusively from PAYDAY, resulting in negative earnings as we expected. But our target is to deliver positive EBITDA starting next quarter and thereafter on an annual basis. Today’s the day of our biggest release since PAYDAY 2 more than five years ago. OVERKILL’s The Walking Dead is an important release for Starbreeze and is obviously our main focus right now. The game is the first we are releasing of the eight major games we have invested in to establish Starbreeze as a major and successful game company that is in it for the long haul.

For more information, please contact:
Ann Charlotte Svensson
Head of Investor Relations and Corporate Communications
Tel: +46 8 202 509
ir@starbreeze.com

Starbreeze AB is required to disclose this information under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact person for publication on 6 November 2018 at 08:00 CET.

About Starbreeze

Starbreeze is a global game company whose vision is to be a leading provider in the entertainment industry by creating world-class experiences. Starbreeze was founded in 1998 and has since evolved into a well-established developer and publisher of PC and console games and VR products aimed at the global market. With studios in Stockholm, Paris, Los Angeles, San Francisco, Barcelona, Brussels, Bangalore and Dehradun, Starbreeze develops high-quality entertainment products based on proprietary and third-party rights, both in-house and in partnership with external game developers. Operations are organized in three business areas: Starbreeze Games, Publishing and VR Tech & OperationsStarbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). For more information, please visit starbreeze.com



Attachments

About The Author

Starbreeze