DGAP-Adhoc Media and Games Invest plc: announces preliminary financial figures for the third quarter 2020, increases its revenue and EBITDA forecast for 2020 and evaluates debt financing
DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Change in Forecast/Bond
Disclosure of inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Media and Games Invest announces preliminary financial figures for the third quarter 2020, increases its revenue and EBITDA forecast for 2020 and evaluates debt financing
Media and Games Invest plc ("MGI" or the "Company", ISIN: MT0000580101; Ticker: M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange), hereby announces the Company's preliminary financial figures for the third quarter 2020. The preliminary financial figures shows, after a good first and second quarter 2020, strong revenue and EBITDA growth in the third quarter 2020. As a result of the preliminary financial figures, the Company announces an increase of its revenue and EBITDA forecast for FY2020. Furthermore, MGI evaluates the possibilities for non-equity financing options with the intention to mainly use the proceeds thereof to redeem the outstanding bond in the subsidiary gamigo AG.
Preliminary financial figures for the third quarter 2020
Based on preliminary figures, revenue grew by 29 percent to EUR 35.0 million in Q3 2020 (Q3 2019: EUR 27.1 million) and adjusted EBITDA1 grew by 61 percent to EUR 6.4 million (Q3 2019: EUR 4.0 million).The overall revenue and EBITDA growth is also based on a continuously increasing organic growth, which amounted year to date (YTD) to 16 percent in the games portfolio.
For the last twelve months (LTM) ended 30 September 2020, revenue and adjusted EBITDA2 amounted to EUR 119.7 million and EUR 24.8 million, respectively. Net interest bearing debt3, adjusted for the net proceeds from the capital increase of SEK 300 million settled on 6 October 2020, amounted to EUR 49.3 million, which leads to a net leverage ratio4 of 2.0, as per 30 September 2020.