Sweden's EG7 Q2 revenue rises 25% on game launches
Sweden's EG7 Q2 revenue rises 25% on game launches
Overview
Sweden gaming group's Q2 net revenue rose 25% yr/yr, FX-adjusted organic growth 30%
Adjusted EPS for Q2 rose to SEK 0.52 from SEK 0.11 a year ago
Quarter driven by Fireshine's strong game launches, including Far Far West
Outlook
Company did not provide specific financial guidance for the current or future periods in the press release
Result Drivers
FIRESHINE GAME LAUNCHES - Fireshine delivered the quarter’s largest contribution, with net revenue growth of 127% in local currency, primarily driven by the early access launch of Far Far West, which sold over 1 mln units on Steam within two weeks
BIG BLUE BUBBLE FEATURES - Big Blue Bubble continued its momentum with net revenue up 21% yr/yr, supported by the new Clubbox gameplay feature and ongoing influencer strategy
DAYBREAK CONTENT UPDATES - Daybreak delivered a stable quarter, driven by DC Universe Online and Palia, which surpassed 10 mln lifetime players and launched the Royal Highlands expansion in May
Company press release: ID:nMFN46gMxC
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 474.60 mln |
|
Q2 Adjusted EPS |
| SEK 0.52 |
|
Q2 EPS |
| SEK 0.52 |
|
Q2 Adjusted EBITDA |
| SEK 99.40 mln |
|
Q2 Adjusted EBIT |
| SEK 62.50 mln |
|
Q2 Pretax Profit |
| SEK 59.60 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Enad Global 7 AB (publ) is SEK30.00, about 51.2% above its August 18 closing price of SEK19.84
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 18 three months ago
Reuters Recommended Reads
Aug 17 - Finland's Nitro Games swings to profit in Q2 on loan waiver, cost cuts
Aug 18 - Sweden's Klarna Q2 revenue beats estimates; lowers FY outlook
Aug 18 - Sweden's Alcadon Q2 net sales rise 2.1%, EBITA up 9.1%
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)