Stillfront

FINANCIAL HIGHLIGHTS Q2

• Net revenue 1,812 (1,811) MSEK, an increase of 0 percent
• Organic net revenue decline of 5 percent
• EBIT 275 (258) MSEK, an increase of 7 percent
• EBITDA 695 (632) MSEK, an increase of 10 percent
• Adj EBITDA 708 (639) MSEK, an increase of 11 percent, Adj EBITDA margin of 39 (35) percent
• Items affecting comparability impacting EBITDA of -13 (-7) MSEK, mainly costs for long-term incentive programs
• Capitalization of product development amounted to 192 (249) MSEK
• Adjusted EBITDAC of 516 (390) MSEK, an increase of 32 percent, Adj EBITDAC margin of 28 (22) percent
• Net result of -54 (117) MSEK
• Free cash flow last 12 months of 969 (1,089) MSEK
• Total net debt, including cash earnout for next 12 months, of 5,130 (4,684) MSEK
• Adjusted leverage ratio, pro forma was 1.6x (1.4x)
• Adjusted leverage ratio, including cash earnout for next 12 months, pro forma was 1.9x (1.8x)
• Cash position of 874 (1,470) MSEK and 2,262 (2,305) MSEK of undrawn credit facilities

“In the second quarter of 2023, we continued to deliver on our communicated agenda from our capital markets day in February with a focus on growing profitability and cash flows. Stillfront’s net revenue was stable year-over-year at 1,812 MSEK in the quarter, while Adjusted EBITDAC grew by 32 percent to 516 MSEK and Adjusted EBITDA by 11 percent to 708 MSEK, corresponding to all-time highs for both metrics. The increased profitability was driven by an increasing share of direct-to-consumer bookings, continued cost optimization, and lower levels of user acquisition and capitalized development costs. We continued to generate strong cash flow across the group and free cash flow in the second quarter increased by 51 percent year-over-year to 363 MSEK.”

Jörgen Larsson, CEO, Stillfront Group

KEY FIGURES

INVITATION TO WEBCAST

The report will be presented in a live webcast at 10:00 a.m. CEST today. Jörgen Larsson, CEO, and Andreas Uddman, CFO, will present the results and answer questions. The conference will be held in English.

To participate via webcast:

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/stillfront-q2-2023

To participate via phone:

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=200881

FORWARD-LOOKING STATEMENTS

Some statements herein are forward-looking that reflect Stillfront’s current views or expectations of future financial and operational performance. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual results may differ materially from the information set forth in the forward-looking information. Such risks and uncertainties include but are not limited to general business, economic, competitive, technological, and legal uncertainties and/or risks. Forward-looking statements in this report apply only at the time of announcement of the report and are subject to change without notice. Stillfront undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, other than as required by applicable law or stock market regulations.