Funcom N.V.: Kvartalsrapport - Q3 (FUNCOM.OL)

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Third Quarter 2019 Financials

Highlights

• 3Q19 revenue was USD 5 353 thousand, mainly driven by “Conan Exiles” and
  …

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“Mutant Year Zero: Road to Eden”. 3Q18 revenue was USD 7 534 thousand driven by
the very successful “Conan Exiles” Japan launch and a strong effect of the
“Conan Exiles” full game launch in 2Q18

• Despite 3Q19 being a quarter without new game releases the EBITDA was USD
  2 148 thousand, and the EBITDA margin was 40% for the quarter and 49% for the
  last 12 months. 3Q18 EBITDA was USD 4 642 thousand, again mainly driven by the
  launch effect of “Conan Exiles”
• On 31 July, Funcom made its first release on the Nintendo Switch platform with
  the critically acclaimed “Mutant Year Zero: Road to Eden”. A new DLC was also
  released on all platforms and retail
• On 22 October, after the third quarter, “Moons of Madness” was released on PC,
  positively received by gamers and press. A Nintendo Switch version of “The
  Park”, initially launched in 2015, was released on the same day
• The pipeline of projects in development continues to be strong, with two
  internally developed major multiplayer titles, two revealed publishing titles
  not yet fully launched, and 6 other active projects
• Tencent, the world’s largest online gaming company, announced in September
  2019 the acquisition of 29% of the Shares in Funcom SE at 15.75 NOK / share from
  KGJ Capital AS, becoming the largest shareholder in Funcom

Words from the CEO

"We’re very happy to welcome Tencent as our largest shareholder, a sign of trust
and recognition that we are humbled by and excited about. We thank KGJ for all
their support over the years and we are glad to see their ownership be
transferred to such a knowledgeable investor as Tencent.

The third quarter of 2019 was a low-key period in terms of releases for the
company, with several small activities happening on several games. We released a
game for the first time on Nintendo Switch - “Mutant Year Zero: Road to Eden” -
in addition we released a DLC for the game and had it on the Epic Games Store as
a free game of the week. We also continued delivering on the DLCs for “Conan
Exiles”, with “Blood and Sand” during the quarter and “Debaucheries of Derketo”
in October. “Moons of Madness” had its Steam release in time for Halloween and
has been positively received by players and press. The console release for the
game is scheduled for January for Xbox One and PlayStation 4.

We continue the investments into our games pipeline and particularly into our
internally developed games “Conan Exiles”, the DUNE open world survival game and
the Mutant Chronicles online shooter.

We’re excited about everything we have in the pipeline and strengthened by the
support shown by Tencent. We’re steadily growing our teams, knowledge and
expertise which helps us pave the way for future successes."

Rui Casais,

Chief Executive Officer

The report and presentation can be downloaded from the Company’s website:
https://investors.funcom.com/financial-reports/

As previously announced a presentation will be held on the Funcom channel on
Twitch, www.twitch.tv/funcom at 8:00pm CET (20:00 Oslo Time) today 11 November
2019. The presentation will be held in English by Rui Casais, CEO of Funcom, and
Stian Drageset, CFO.

Any enquiries may be addressed to: investor@funcom.com

To receive Funcom news directly to your e-mail sign up to our e-mail service at
https://investors.funcom.com/

Funcom SE

Badhoevedorp, The Netherlands, 11 November 2019

This information is subject to the disclosure requirements acc. to §5-12 of vphl
(Norwegian Securities Trading Act)

Kilde

Presentation of Third Quarter 2019 Financials

Funcom will present its financial result for the Third Quarter of 2019 on Monday
11 November 2019 at 20:00 hrs CET (20:00 local Oslo time). The presentation will
be held in English on Twitch by CEO Rui Casais and CFO Stian Drageset.
…

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To watch the presentation please visit the Funcom Channel on Twitch
https://twitch.tv/funcom

For questions, please contact us by email at: investor@funcom.com

Please note that the Third Quarter 2019 report and presentation will also be
made available just ahead of the presentation on the company’s website at:
https://www.funcom.com/

To receive Funcom news directly to your e-mail sign up to our e-mail service at
https://investors.funcom.com/

Funcom SE

Badhoevedorp, the Netherlands, 4 November 2019

This information is subject to the disclosure requirements acc. to §5-12 of vphl
(Norwegian Securities Trading Act)

Kilde

[Savepig]

Q3: 2019
Highlights

• 3Q19 revenue was USD 5 353 thousand, mainly driven by Conan Exiles and Mutant Year Zero: Road to Eden. 3Q18 revenue was USD 7 534 thousand driven by the very successful Conan Exiles Japan launch and a strong effect of the Conan Exiles full game launch in 2Q18
• Despite 3Q19 being a quarter without new game releases the EBITDA was USD 2 148 thousand, and the EBITDA margin was 40% for the quarter and 49% for the last 12 months. 3Q18 EBITDA was USD 4 642 thousand, again mainly driven by the launch effect of Conan Exiles

Q2 2019:
Financials

• Revenue for the quarter increased 53% from 1Q19 to USD 8 876 thousand
• EBITDA increased 72% from 1Q19 to USD 4 372 thousand. The 12-month rolling EBITDA margin at 2Q19 was 53%, close to the highest in Funcom’s history
• EBIT increased to USD 594 thousand from USD 128 thousand in 1Q19
• The equity increased 4% from 1Q19 to USD 47 639 thousand
• The cash position increased by 3% from 1Q19 to USD 20 272 thousand
• Cash flow from operating activities increased 60% from 1Q19 to USD 6 570 thousand

Q1 2019
Financials

• Revenues for the quarter increased by 117% to USD 5 812 thousand, versus same period last year (1Q18: USD 2 677 thousand)
• EBITDA increased by USD 2 467 thousand to USD 2 544 thousand (77)
• EBIT increased by USD 1 265 thousand to USD 128 thousand (-1 138)
• The equity increased by 31% to USD 45 955 thousand (35 137)
• The cash position increased by 19% to USD 19 614 thousand (16 533)
• Cash flow from operating activities for the quarter increased by 572% to USD 4 102 thousand (611)

[h3nk1]

Eneste nye er at de sier det kommer ny stor update til CE H1 2020 - les: nytt map mv. Utover det er finansene som forventet ish. Ikke mye spennende mao. Enda godt kursen har utviklet seg positivt etter Tencent kjøpte seg inn

[Gamer1]

Ser de har listet opp disse utviklerne på publishing. Noen som har testet ut spill fra disse?

[amateurleague]

Ja, Battlefield og Payday 2 er jo greie spill

[eklof99]

Synes @antzzo stilte et godt og betimelig spørsmål tidlig i streamen:

:

Ble dette glatt oversett av Stian og Rui?
Fikk med meg at de gjentok at det blir gitt ut i 2020, slik det sto i presentasjonen, men ble spørsmålet for ukomfortabelt til at de tok det opp?

[arcone]

De nevnte at ett spørsmål var veldig uhøflig. Det var vel ikke dette spørsmålet de referte til?!

[Evilfreud]

Det var nok noe de motok på mail.