Q2 2024 G5 Entertainment AB (publ) Earnings Call Transcript
Key Points
- G5 Store's revenue contribution increased significantly, making up 15.2% of total net revenue compared to 9.4% a year ago.
- The G5 Store experienced a 42% growth year-over-year in Swedish kroner and 40% in USD terms.
- Gross margin improved slightly to 67.8% from 67.4% last year, aided by the growth of G5 Store.
- The company maintained a strong cash position with SEK193 million, up from SEK173 million last year, despite paying a substantial annual dividend.
- G5 Entertainment AB (LTS:0QUS) continues to have zero debt and a solid cash flow, indicating strong financial health.
- Revenue in the second quarter was SEK287 million, which was 13% lower than the previous year in Swedish kroner and 14% lower in USD terms.
- Earnings per share decreased to SEK3.02 from SEK4.96 in the same quarter last year.
- Operating profit (EBIT) dropped to SEK21.8 million from SEK38.9 million a year before, resulting in a lower EBIT margin of 7.6%.
- User acquisition spend decreased to 17% of revenue from 19% last year, indicating potential challenges in acquiring new users.
- The company faced a negative impact from FX revaluations, affecting the EBIT margin negatively.
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Morning, everyone. I will give it a few seconds whilst attendee list is loading now that we've opened up the webinar for this morning with earnings call. (Event Instructions)
Yeah, I think we're ready to go. So I hand over to our CEO, Vlad Suglobov.
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Hello, everyone. Good morning. Thank you for joining the call, and thank you, Stefan, for the introduction. Stefan is, of course, our CFO. So let's begin and move on to Slide number 1.
So the revenue in the second quarter this year was SEK287 million, which was 13% lower than last year. That's in Swedish kroner. And in USD terms, it was 14% lower. We saw a negative performance year-over-year in our actively managed portfolio, and that fell 13% year-over-year in USD terms. But audience monetization metrics and gross margin
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