Interim Report January-March 2016

STILLFRONT GROUP AB (PUBL)

The Quarter january - march 2016

• Net revenues amounted to 25.3 MSEK (corresponding period 2015: 11.9 MSEK), which is an increase of 113% compared to the corresponding period 2015 and 29% compared to the previous quarter.
• Underlying EBITDA, i.e. EBITDA adjusted for expensed investments, amounted to 10.0 MSEK (4.8 MSEK), which is an increase of 111%. EBITDA amounted to 6.6 MSEK (3.0 MSEK).
• Profit/loss before tax was 4.7 MSEK (1.2 MSEK), which is an increase of 304%. Profit/loss after tax was 2.5 MSEK (0.9 MSEK).
• Earnings per share before dilution amounted to 0.51 SEK (0.31 SEK). Earnings per share after dilution amounted to 0.47 SEK (0.29 SEK)^[1].
• As of March 31 cash and cash equivalents amounted to 78.0 MSEK (6.5 MSEK).
• Sales of Unravel commenced February 9 and has been very satisfying.
• Coldwood is entering an agreement with Electronic Arts regarding the development of a sequel to Unravel.

An outstanding start of 2016

"2016 has started in an exceptionally strong way for Stillfront, and I look forward to a continued exciting year. Compared with the first quarter of 2015, Stillfront more than doubled sales. Our primary profitability metric, underlying EBITDA, increased 111% and profit before tax amounted to SEK 4.7 million. This growth has been completely organic!

The strong development is primarily based on the success of our German studio Bytro and our Swedish studio Coldwood, not least because of the acclaimed game Unravel.

Stillfront will continue to build on its PLEX strategy, which has proved successful so far. We will strive to accelerate our development further through strategic acquisitions." says Jörgen Larsson, CEO.

Key figures, The Group