Ikke lenge siden man kunne kjøpe SF under 250 og i dag var kursen over 320 en liten stund. Tenker jeg skal følge litt med på CMDen som begynner senere i dag :
EDIT: Kursen endte på 334kr så man kan vel si at salget til Laureus Capital (3mill aksjer på 250kr) i september ble en gavepakke . Kursen var vel rundt 290kr da de solgte.
Begynner å bli grei størrelse på SF :
" The combined group has pro forma net revenues and adjusted EBIT[1] for the twelve months ended 30 September 2019 of SEK 2,883 million and SEK 1,198 million, respectively"
Mer i ebit enn funcom er verdt 
“justert ebit” 
Bare en liten emisjon på 1,3 milliarder kroner 
Efter dagens ”tvangssalg” så har jag lite kapital att investera. Någon som äger Stillfront och tankar runt ingång på den här nivån? Jag sätter mig in i flera case på egen hand men värdesätter era inspel här på TI 
Jeg har begynt å kjøpe meg inn i SF med penger fra salg av Funcom og SSO. Jeg har en teori om at SF på et vis kan betraktes som et software/spill/teknologi fond siden det består av mange ulike selskaper. Risikoen er derfor (muligens) mindre enn i enkelte andre tilsvarende selskaper.
Köpt in mig lite i toadman & zordix men SF är fortfarande aktuell. Jag har läst och trålat så mycket info jag har hunnit sista två dagarna och bestämde mig för att börja med dessa, har dock flera företag på radarn -spännande tider 
Her spres Fun kapitalen til alle steder 
Haha, ja det ska man inte sticka under stolen med 
. Har kvar aktier i Funcom men har lättat mig
The Storm8 Inc acquisition for USD 300m+100m is Stillfront’s largest to date and another piece of the pie on its way to becoming a free-to-play (F2P) powerhouse, and further M&A will come as the balance sheet has been restored after a successful capital raise of SEK 1.3bn. We find the acquisition value-accretive on initial multiples and deal logic as the group significantly increases its exposure to the F2P games market also through games advertising, giving even better prospects for future growth, especially if group synergies play out as planned. We raise our estimates due to Storm8 and reiterate our Buy rating with a new TP of SEK 548 (352) as growth prospects remain solid. Q4 is out 19 February.
Storm8 Inc – a highly attractive acquisition, in our view
Based on historical revenue and EBIT we calculate an initial EV/EBIT acquisition multiple of 4.8x, or 6.3x when accounting for the full earn-out, highly attractive, in our view, especially as Storm8 has recently launched casual genre mash-up games that offer higher exposure to the total F2P market but at lower risk versus traditional casual games. The additional Storm8 player base is highly complementary as it is geared (75%) to the attractive group of female players aged 20-45 years, in contrast to Stillfront’s strategy games which are centred around middle-aged males.
Q4 2019 preview – report due out 19 February
Reported Q4 player statistics showing MAU and DAU up 13% and 6% q/q indicated downside to our Q4 revenue estimate, but as UAC also seems to have been lower than we had modelled, we leave our adjusted EBITDA basically unchanged for the quarter. In total, we expect Q4 revenue of SEK 564m, +54% y/y, with EBITDA of SEK 218m (SEK 160m in Q4 2018).
Buy reiterated with a new target price of SEK 548 (352)
Our target price is based on an average 2020-21E adjusted EV/EBIT ratio of 14x (reflecting operational EBIT), in line with global gaming peers.
[Contact analyst(s)](mailto:lars-ola.hellstrom@paretosec.com ?subject=Ref: Stillfront Group AB - Levelling up again - Update&cc=)
Analyst(s):
Lars-Ola Hellstrom, +46 8 402 5277, lars-ola.hellstrom@paretosec.com
Full analyse hos Pareto
Full kommentar hos Pareto.
Stillfront just released a slightly weaker Q4 2019 report with revenue 2% below our and consensus estimate, still growing 51%, and with EBITDA 4-6% lower than expected as lower UAC not fully was able to compensate for lower revenue. Stillfront Core, came in weaker on revenue compared to our estimates, growing deposits by 118% y/y, with Nida Harb III remaining strong with deposits of SEK 70m (deposits of SEK 72m for Q3), Shakes and Fidget having a strong quarter while revenue from Kixeye titles surprisingly fell sequentially even though the group has started to scale War Commander and Vega Conflict. Paying users for the segment was higher than we had modelled while monetization was lower, promising for coming quarters if ARPU levels can be restored through content updates etc. Also, Goodgame revenue was lower than expected with paying users in line with our modelling although at a lower monetization versus our estimates. UAC of SEK 107m is lower than the SEK 113 we expected and relates mainly to EMPIRE, indicating limited UAC spend for the new title EMPIRE: Age of Knights. In total, the Q4 report is soft on numbers but KPIs looks promising for further growth in 2020 why we only expect to finetune estimates for Stillfront Core and Goodgame. Shares has been strong following the acquisition of Strom8 why we find a slight negative reaction of -3-5% as likely today. Shares is traded at an EV/EBIT 2020E multiple of 13.5x and 11x for 2021E. Buy TP SEK 548.
Key takeaway
Deviation table
[Contact analyst(s)](mailto:lars-ola.hellstrom@paretosec.com ?subject=Ref: Stillfront Group AB - Q4 is slightly weaker than expected - Newsflash&cc=)
Analyst(s):
Lars-Ola Hellstrom, +46 8 402 5277, lars-ola.hellstrom@paretosec.com
Mer fra Pareto, full rapport på sidene dems.
Stillfront’s Q4 report, the last before Storm8 is consolidated from 1 March, was on the soft side with revenue and EBITDA 2-6% lower than our and consensus estimates as we were too optimistic on when KIXEYE products would start to scale. Stillfront has continued to optimise the KIXEYE games and remains optimistic on these and several other large games being scaled in 2020 and UAC will be ramped up once KPIs show targeted ROI levels. We have finetuned our 2020 estimates lower as we are now less aggressive on growth in H1 2020 for the games to be scaled although expect a more pronounced effect in H2 2020. We keep our Buy rating with a slightly lower target price of SEK 546 (548).
Q4 review – It’s not all about M&A
In Q4, revenue grew 51% y/y, supported by the acquisition of KIXEYE and good organic growth that we estimate was around ~20 18-20% y/y, supported by Nida Harb III (+67% y/y in a seasonally slow quarter) and BIG FARM products (+28% y/y) with BFMH still in a strong growth phase, as indicated by MAU growth of 36% q/q that is still to be fully converted into paying users and revenue. Also, Shakes & Fidget had a record quarter with revenue of SEK 36m, due to earlier implemented product initiatives, and the evergreen title Supremacy 1914 tripled its revenue y/y, although from a low level, due to earlier implemented platform extensions with updated content and features. We repeat that Stillfront believes it will be able to outgrow the mobile games market, CAGR of 11.3% to 2022, in terms of organic growth over the next few years due to new game releases and group synergies. In 2019, Stillfront prepared itself, setting up internal processes and a centre of excellence throughout the group, which means additional synergies are likely to show already in 2020.
Buy reiterated with a slightly lower target price of SEK 546 (548)
Our target price is based on an average 2020-21E adjusted EV/EBIT ratio of 14x (reflecting operational EBIT), in line with global gaming peers.
[Contact analyst(s)](mailto:lars-ola.hellstrom@paretosec.com ?subject=Ref: Stillfront Group AB - Several games to be scaled in 2020 - Quarterly Review&cc=)
Analyst(s):
Lars-Ola Hellstrom, +46 8 402 5277, lars-ola.hellstrom@paretosec.com
8. Stillfront Group(SF.ST) - 18. mar 2020. Siste sluttkurs: 365 (-10.5)
Stillfront Group ligger i en stigende trendkanal på mellomlang sikt. Dette signaliserer økende optimisme blant investorene og indikerer videre kursoppgang. Aksjen har støtte ved cirka 300 kroner og motstand ved cirka 490 kroner. Aksjen anses teknisk positiv på mellomlang sikt.
Sjekket de 3 spillene som SF også har tilgjengelig på steam og ser at siste 30 dager har det vært grei utvikling i Call of war ( opp 10.2% ) og Supremacy ( opp 12.8% ) mens det har vært en liten nedgang i Conflict of Nations ( ned 0.7% ) . CoN hadde uansett en oppgang på 18.6% i januar så har kanskje en del spillere i Kina ?
EDIT: Sjekket tallene nå 23/3 og da er spillertallene siste 30 dager opp 16.55% i call of war , 22.4% i supremacy og opp 3.74% i conflict of nations. Grei utvikling de siste 4 dagene. Conflict of nations hadde foresten peak på 356 spillere som er ny ATH.
EDIT 2: For mars ble det på steam opp 32.35% for call of war, 48.6% for supremacy og 14.89% for conflict of nations.
Kom over denne når jeg leste e24. Han trenger nok litt cash til hotellene sine som sliter litt for tida:
Stordalens investeringsselskap Strawberry Capital har solgt aksjer den siste tiden, deriblant i TV3-eier Nent Group, skriver den svenske avisen Dagens Industri.
Den svenske finanstjenesten Holdings som rapporterer bevegelser i aksjemarkedet skriver at Stordalen-selskapet har solgt 304.000 aksjer i Nent, 125.000 aksjer i spillselskapet Stillfront og 602.000 aksjer i Dometic, et selskap som produserer fritidsprodukter.
Nedsalget har skjedd i løpet av mars måned.
Original kilde:
https://www.di.se/live/petter-stordalen-har-salt-allt-i-nent-och-stillfront/
Ja når man dumper såpass mye aksjer i mars så er det nok ikke noen tvil om at han trenger cash.
Når det gjelder Stillfront ( og gaming generelt ) så blir jeg bare mer og mer positiv. Man ser jo at spillertallene fremdeles holder seg på et høyt nivå og blir veldig interessant å se hvordan dette påvirker inntektene på litt lengre sikt. Spillene til SF har lang levetid og noen av de spillerene som kommer inn nå kan generere inntekter i flere år.
Sjekk endring siste 3 måneder :
https://steamdb.info/graph/?compare=672680,784950,979920
Er jo en liten del av spillerene som spiller gjennom steam men basert på hva jeg ser fra andre så forventer jeg brukbar økning fra mobil og. Har jo ventet på at SF skulle komme med info om spillertall for Q1 men hadde ikke fått med meg denne fra oppdateringen som kom i januar :
“This is the last time DAU and MAU-numbers are published separately. From the first quarter of 2020, the information that is given regarding the Stillfront portfolio of games, will be published in the quarterly report. Thus, Stillfront ensures that the market receives all information at once.”
Greit å notere seg at reklame er billig også nå, som gjør UA billig