DGAP-News Media and Games Invest; strong nine-month figures already exceed the full year 2019 - adjusted EBIT grows by 150%
DGAP-News: Media and Games Invest plc / Key word(s): 9 Month figures/Quarter Results
Media and Games Invest; strong nine-month figures already exceed the full year 2019 - adjusted EBIT grows by 150%
Media & Games Invest plc ("MGI" or the "Company", ISIN: MT0000580101; Ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) exceeded expectations also in the third quarter 2020. Revenues increased by 29% to €35m and the adj. EBIT by 150% to €4m. Due to the strong performance we raised our forecast for 2020 for the second time this year at the beginning of November. We now expect revenues of up to €135m and up to €26m reported EBITDA
HIGHLIGHTS THIRD QUARTER 2020
- Net revenues amounted to 35.0 mEUR (Q3 2019: 27.1 mEUR), an increase of 29% compared to Q3 2019.
- Adjusted EBITDA amounted to 6.4 mEUR (Q3 2019: 4.0 mEUR), which is an increase of 61%.
- Adjusted EBIT increased to 4.0 mEUR (Q3 2019: 1.6 mEUR), which is an increase of 150%.
- Leverage ratio adjusted for the net proceeds from the capital increase decreased to 2.0 as per 30 September 2020 (3.2 as per 30 June 2020).
- Cash and cash equivalents adjusted for the capital increase amounted to 37.9 mEUR as per 30 September 2020 (15.5 mEUR as per 30 June 2020).
SELECTED KEY PERFORMANCE INDICATORS, MGI GROUP
|In mEUR||Q3 2020||Q3 2019||Q1 - Q3 2020||Q1 - Q3 2019||FY 2019|
|YoY Growth in revenues||29%||-||64%||-||157%|
|Adj. EBITDA margins||18%||15%||21%||22%||22%|
|Adj. EBIT margins||12%||6%||13%||11%||12%|
A WORD FROM REMCO WESTERMANN, CEO