Q2 2024 Enad Global 7 AB (publ) Earnings Call Transcript
Key Points
- Enad Global 7 AB (ENADF) reported a net revenue of SEK353 million for Q2, with expectations of significant revenue growth in the second half of the year.
- The acquisition of Singularity 6 is expected to expand the company's portfolio with the game Palia, which has already attracted approximately 5 million players.
- Cost optimization efforts are projected to reduce annual costs by around SEK100 million, enhancing future profitability.
- Big Blue Bubble contributed significantly to adjusted EBITDA, with My Singing Monsters stabilizing at levels nearly three times greater than in 2021.
- The company successfully uplisted to the Nasdaq main list, potentially increasing its visibility and investor interest.
- Q2 adjusted EBITDA of SEK33 million represents a decline from the previous year and quarter, attributed to My Singing Monsters stabilizing at a lower level.
- Toadman and Petrol faced challenges, with Toadman reporting an adjusted EBITDA loss of SEK8.5 million due to difficulties in ramping up their work-for-hire business.
- Daybreak's margins were lower than usual due to revenue deferrals, impacting the overall profitability for the quarter.
- Fireshine reported a negative adjusted EBITDA of SEK1.8 million, attributed to the timing of product releases.
- The company anticipates ending the year at the lower end of its EBITDA margin guidance range of 22% to 25%, reflecting ongoing industry challenges.
Good morning and welcome to this Q2 earnings call with EG7. My name is Ludvig Anderson, and I will be your moderator during this call.
Together with me to present, we have the company's CEO, Ji Ham; and Deputy CEO and CFO, Fredrik Ruden. After presentation, we will have a short Q&A session. So please feel free to e-mail your questions to the company's Investor Relations e-mail.
But now without further ado, over to you, Ji.
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Great. Thank you, Ludvig. Thank you all for joining us this morning. We'll begin with our key performance figure review.
Please, next slide. For the second quarter, net revenues came in at SEK353 million, adjusted EBITDA of SEK33 million, and end of period cash balance was SEK370 million. This quarter was relatively quiet as communicated before, most of our major product releases are coming in the second half. First half results
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