DGAP-News: Media and Games Invest plc
/ Key word(s): Quarter Results/Miscellaneous
Media and Games Invest (MGI) hits the 100 million Euro revenue on a 12-month basis and grows in the 2nd quarter with 97 percent compared to the previous year
- Revenues in Q2 2020 grows by 97 percent to EUR 30.0 million (Q2 2019: EUR 15.2 million)
- EBITDA increases by 68 percent to EUR 6.3 million (Q2 2019: EUR 3.8 million)
- 12-month revenue climbs to EUR 111.9 million
- Revenue target for 2020 raised to EUR 115 to EUR 125 million (2019: EUR 83.9 million)
- EBITDA to rise to EUR 20 to EUR 23 million in 2020 (2019: EUR 15.5 million)
Q2 2020 revenues grow by 97 percent to EUR 30.0 million (Q2 2019: EUR 15.2 million)
- The number of new players in the gaming segment continued to increase in the 2nd quarter. As a result, gaming revenues also continued to grow organically. At the same time, the focus on a digital customer base leads to a positive development of revenues in the Media segment as well, despite the ongoing corona crisis.
EBITDA increased by 68 percent to EUR 6.3 million in Q2 2020 (Q2 2019: EUR 3.8 million)
- After the successful integration of the last acquisitions in the second quarter, EBITDA increased by 68 percent to EUR 6.3 million (Q2 2019. EUR 3.8 million). In particular, the integration of the Media segment under the leadership of the Verve Group provides further synergy effects in the coming periods, which should lead to improved profitability.
On this basis, MGI has raised its forecast for the full year 2020: The revenue target increases to EUR 115 to EUR 125 million euros. This corresponds to a growth of +37 percent to +49 percent. At the same time, the EBITDA for 2020 is expected to rise to between EUR 20 million and EUR 23 million (2019: 15.5) - an increase of 29 percent to 48 percent. "Our new targets for 2020 reflect the potential of our current structure - not including further acquisitions", says CEO Remco Westermann.
The figures are consolidated in IFRS, preliminary and unaudited. The publication of the full Q2 2020 interim financial statements is scheduled for August 12, 2020.
03.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|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:||1108339|
|End of News||DGAP News Service|