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Maximum Entertainment Interim Report Q3 2023

MAR

Stockholm, Sweden (November 15, 2023) – Maximum Entertainment (Nasdaq: MAXENT B) Net Sales for the quarter amounted to MSEK 295.7, an increase of 14% compared to the corresponding period in 2022. Continued strong performance of our OIP releases from the first half of the year together with successful 3rd party game launches are the main contributors. Gross margin as a percentage of Net Sales is 32.2%. Before balance sheet adjustments to Earn-outs, EBITDA for the quarter amounted to MSEK 45.6. This represents 15.4% of Net Sales compared to 7.3% for the same period in 2022.

SUMMARY JULY – SEPTEMBER 2023

  • Net revenue amounted to MSEK 295.7 (MSEK 258.6 in Q3 2022)
  • EBITDA before balance sheet adjustments to Earn-outs amounted to MSEK 45.6 (MSEK 18.9 in Q3 2022)
  • EBITDA amounted to MSEK 149.2 (MSEK 18.9 in Q3 2022)
  • Operational EBIT amounted to MSEK 28.4 (MSEK 12.7 in Q3 2022)
  • EBIT after balance sheet adjustments to Earn-outs and Goodwill amounted to MSEK -21.3 (MSEK -16.1 Q3 2022)
  • Cash flow from operating activities before the change in working capital amounted to MSEK 24.8 (MSEK 9.0 in Q3 2022)
  • At the end of the quarter, the Group performed an evaluation of Goodwill which takes into account changing market conditions, resulting in an impairment of MSEK 123

HIGHLIGHTS DURING THE THIRD QUARTER

Game Launches

  • Super Animal Royale Season 8 Launched with 10M players
  • Massive content update for Smalland: Survive the Wilds – Forbidden Monuments
  • Double Dragon Gaiden: Rise of the Dragons
  • Hammerwatch II
  • Paleo Pines
  • Super Animal Royale Season 9

Game Announcements

  • Whisker Waters coming in 2024
  • Smalland: Survive the Wilds 1.0 & console release date in 2023

Corporate

  • Company name change registration and MAXENT B share on Nasdaq

HIGHLIGHTS AFTER THE THIRD QUARTER

  • Smalland: Survive the Wilds 3rd Content Update – Amber Valleys
  • Erik Penser Bank engaged as liquidity provider
  • Spirit of the North 2 announcement
  • Spells and Secrets Launch
  • New Partnership and Updates to Portfolio

This report, together with previously published reports, is available on the Maximum Entertainment webpage: https://maximument.com/investor-relations/

This information is information that Maximum Entertainment is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-11-15 07:30 CET.

About Maximum Entertainment

Maximum Entertainment is a global entertainment company dedicated to creating high quality experiences spanning the entire value chain of video games, including development, publishing, transmedia, sales and operations. Maximum Entertainment provides collaborative resources to its partners, through in-house publishing labels Maximum Games, Modus, Merge Games and Just For Games, as well as its development division, Modus Studios. With more than 300 titles in its catalog, Maximum Entertainment has partnered with best-in-class creators and franchises around the world to deliver magic to the gamer in everyone. Maximum Entertainment has offices around the world and employs more than 200 professionals. Visit Maximum Entertainment at www.maximument.com.

For More Information, please contact:

Christina Seelye, CEO
E-mail: ceo@maximument.com | Tel: +46 8 490 094 98

Deborah Bellangé, CFO
E-mail: cfo@maximument.com | Tel: +46 8 490 094 98

For more information regarding the company and investments, please contact ir@maximument.com.

Certified Adviser
Augment Partners AB, info@augment.se, tel +46 (0) 8 604 22 55, is Maximum Entertainment AB's Certified Adviser.

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Datum 2023-11-15, kl 07:30
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ENG Max Ent Earnings Report Q3 VF
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