Brief: Starbreeze Q2 EBITDA Swings To Loss Of SEK 25.8 Mln

Starbreeze AB

20/08/2019 07:19

Aug 20 (Reuters) - Starbreeze AB  STZEb.ST :
    * Q2 2019 NET SALES AMOUNTED TO SEK 160.0 MILLION (123.5)
    * COSTS RELATED TO RECONSTRUCTION AMOUNTED TO SEK 12.6
MILLION FOR
Q2
    * Q2 EBITDA AMOUNTED TO SEK -25,8 MILLION (52.4)
    * DECLINE IN EARNINGS IS DUE PRIMARILY TO CAPITAL LOSSES ON
DIVESTITURES OF SUBSIDIARIES DHRUVA AND NOZON TOTALLING SEK 30.6
MILLION AND POORER GROSS PROFIT CONSEQUENT UPON SALE OF
PUBLISHING RIGHTS TO PSYCHONAUTS 2 AND 10 CROWNS
    * WORK WITH LONG-TERM FINANCING IS ON-GOING WITH MULTIPLE
PARALLEL
TRACKS
    * STARBREEZE - IN THE SHORT TERM, OUR FINANCES ARE SECURED
AS WE
DIVESTED ASSETS BELONGING TO OUR NON-CORE SEGMENT WHICH HAS
GENERATED LIQUIDITY TAKING US TO Q2 IN 2020

Source text for Eikon:  ID:nWkry5v7g 
Further company coverage:  STZEb.ST 

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