Maximum Entertainment Interim Report Q2 2023

Stockholm, Sweden (August 16, 2023) – Maximum Entertainment (Nasdaq: MAXENT B) Net revenue for the quarter amounted to MSEK 272.8, an increase of 18% compared to the corresponding period in 2022. Smalland: Survive the Wilds was released over Early Access at the tail end of Q1 with the revenue impact for the launch benefiting our Q2 numbers. Bramble: The Mountain King is an additional original and owned IP title launched in the quarter. Gross margin as a percentage of revenue is 28%.

EBITDA is up 7% from last year representing 8.3% of Net Sales compared to 9.2% for the same period in 2022.

SUMMARY APRIL – JUNE 2023

  • Net revenue amounted to MSEK 272.8 (MSEK 230.5 in Q2 2022)
  • EBITDA amounted to MSEK 22.7 (MSEK 21.2 in Q2 2022)
  • EBIT amounted to MSEK -17.7 (MSEK -10.2 Q2 2022)
  • Operational EBIT amounted to MSEK 11.8 (MSEK 16.8 in Q2 2022)
  • Cash flow from operating activities before the change in working capital amounted to MSEK -17.0 (MSEK -22.3 in Q2 2022)

HIGHLIGHTS DURING THE SECOND QUARTER

  • CEO, Chairman of the Board, and Institutional Investors acquired a significant shareholder position.
  • Maximum Entertainment launched Afterimage and released its owned IP, Bramble: The Mountain King.
  • The Board resolved two directed issues as partial payments to the Sellers of Maximum Games and Just For Games, which were approved at the AGM together with the previously resolved earn-out for Merge Games.
  • Three new members were elected to the Board of Directors, bringing new expertise to the Board.
  • Smalland: Survive the Wilds reached 200,000 units sold on Steam in Early Access.
  • Deborah Bellangé was appointed Group CFO. Acting CFO, Thierry Bonnefoi is appointed Group COO.

HIGHLIGHTS AFTER THE SECOND QUARTER

  • Additional content for Super Animal Royale and Smalland: Survive the Wilds are announced.
  • The Company is officially renamed Maximum Entertainment AB, with a new ticker symbol MAXENT B.

This report, together with previously published reports, is available on the Maximum Entertainment webpage: https://maximument.com/investor-relations/

This information is information that Maximum Entertainment is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-16 07:30 CEST.

About Maximum Entertainment

Maximum Entertainment is a global entertainment company dedicated to creating high quality experiences spanning the entire value chain of video games, including development, publishing, transmedia, sales and operations. Maximum Entertainment provides collaborative resources to its partners, through in-house publishing labels Maximum Games, Modus, Merge Games and Just For Games, as well as its development division, Modus Studios. With more than 300 titles in its catalog, Maximum Entertainment has partnered with best-in-class creators and franchises around the world to deliver magic to the gamer in everyone. Maximum Entertainment has offices around the world and employs more than 200 professionals. Visit Maximum Entertainment at www.maximument.com.

For More Information, please contact:

Christina Seelye, CEO
E-mail: ceo@maximument.com | Tel: +46 90 690 70 66

Deborah Bellangé, CFO
E-mail: cfo@maximument.com | Tel: +46 8 490 094 98

For more information regarding the company and investments, please contact ir@maximument.com.

Certified Adviser
Augment Partners AB, info@augment.se, tel +46 (0) 8 604 22 55, is Maximum Entertainment AB's Certified Adviser.

Attachments

ENG Max Ent Interim Report Q2

ENG Max Ent Interim Report Q2

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