Stillfront, the global group of gaming studios, has seen revenue increase in the first quarter of this year.
In its interim report, the company saw net revenue increase 33 per cent compared to the same period in 2018. EBITDA amounted to 154SEK, an increase of 50 per cent.
Net result per share undiluted amounted to 2.93SEK. The net result per share diluted amounted to 2.91 SEK. Net debt amounted to 485 MSEK and the adjusted leverage ratio was 0.9x.
Jörgen Larsson, CEO of Stillfront, said: “"In the first quarter, our user acquisition cost was 108SEK or 26 per cent in relation to net revenue. The growth in the quarter is a result of us evidencing our ability to execute highly profitable marketing campaigns. Our evolving game portfolio continue to perform well driven both by continued organic growth as well as strong contribution from acquisitions. Our newly acquired studios Imperia Online and Playa Games are contributing with high margins in the first quarter. New launches are delivering according to plan and our largest brands Empire and Big continued to grow sequentially.
"Looking ahead, our strategy remains unchanged – to focus on low risk and long life-cycle games. Our healthy financial position supports investments in business development and in addition, we continue to see strong opportunities for profitable growth through acquisitions."
