Stillfront

Financial highlights Q2 2024

• Net revenue 1,744 (1,812) MSEK, a decline of -4 percent
• Organic net revenue decline of -4 percent
• Adjusted EBITDAC of 505 (516) MSEK, a decline of -2 percent, Adj EBITDAC margin of 29 (28) percent
• Capitalization of product development amounted to 152 (192) MSEK, 9 (11) percent in relation to net revenue
• EBIT 253 (275) MSEK, a decline of -8 percent
• Net result of -107 (-54) MSEK
• Free cash flow last 12 months of 737 (969) MSEK
• Total net debt, including cash earnout for next 12 months, of 5,022 (5,130) MSEK
• Adjusted leverage ratio, including cash earnout for next 12 months, pro forma was 2.15x (1.91x)
• Cash position of 895 (874) MSEK and 1,519 (2,262) MSEK of undrawn credit facilities

“Stillfront’s net revenue amounted to 1,744 MSEK in the second quarter, in line with the first quarter. Adjusted EBITDAC amounted to 505 MSEK during the quarter, representing an adjusted EBITDAC margin of 29 percent. During the past 18 months, Stillfront has taken several measures to increase efficiency and lower costs across the group. Staff costs were down by -12 percent in the second quarter compared to the same period last year, as we have delivered on our promise to reduce capex spending and address the cost-base of underperforming studios. This, in combination with gross margin improvements and lower user acquisition levels compared to the past two quarters led to the highest adjusted EBITDAC margin in the quarter that Stillfront has had in three years.”

Jörgen Larsson, CEO, Stillfront

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-report-2024

To participate via phone:

If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

https://conference.financialhearings.com/teleconference/?id=50048607

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.