DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Change in Forecast/Quarterly / Interim Statement
Media and Games Invest (MGI) with positive half-year figures 2020; Increase of revenue forecast 2020; publication of an EBITDA forecast 2020
August 03, 2020 - Media and Games Invest plc ("MGI", ISIN: MT0000580101; Symbol: M8G; Scale Segment, Frankfurt Stock Exchange) generated revenues of EUR 56.6 million (H1 2019: EUR 28.6 million) and EBITDA* of EUR 11.6 million (H1 2019: EUR 7.5 million) in the first half of 2020 according to the preliminary figures available today. In Q2 2020 MGI achieved a 97% growth in revenues to EUR 30.0 million (Q2 2019: EUR 15.2 million) and an EBITDA* increase of 68% to EUR 6.3 million (Q2 2019: EUR 3.8 million). The reasons for the significant increase in revenues and earnings are acquisitions in the media sector as well as stronger organic growth in the gaming segment.
Based on these preliminary results for the first half of 2020, MGI raises its revenue and earnings forecast for the financial year 2020. MGI now expects revenues in the range of EUR 115 to 125 million for the 2020 financial year. This corresponds to a growth of +37% to +49% compared to 2019. Originally, MGI had only forecasted a revenue growth of EUR 110 million, representing roughly 30%, for 2020. Furthermore, MGI for the first time gives an profit forecast for 2020, according to which MGI expects an EBITDA of between 20 million and 23 million euros in 2020. This EBITDA forecast is above the average of analysts' estimates, who expect an EBITDA of EUR 20 million in 2020.
The complete financial figures as well as further information on the 2020 business development so far will be published in the half-year report on August 12, 2020.
* Earnings before interest, taxes, depreciation and amortization as defined on page 7 of the consolidated financial statements 2019 of Media and Games Invest plc.
About Media and Games Invest plc:
03-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Media and Games Invest plc|
|St. Christopher Street 168|
|VLT 1467 Valletta|
|Phone:||+356 21 22 7553|
|Fax:||+356 21 22 7667|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Scale), Tradegate Exchange|
|EQS News ID:||1108303|
|End of Announcement||DGAP News Service|
1108303 03-Aug-2020 CET/CEST