Umeå, Sweden (Feb. 22, 2023) – Zordix AB (publ) (Nasdaq: ZORDIX B) Net revenue for the quarter amounted to MSEK 412.6 and the full year to MSEK 1,138.3, a substantial increase from the corresponding periods in 2021 driven by the acquisitions that took place in 2021. On a proforma basis, full year revenue came in 8.9 percent below the corresponding period in 2021 which was favorably impacted by exceptionally strong releases, but in line with expectations.
SUMMARY OCTOBER–DECEMBER 2022
- Net revenue amounted to KSEK 412 624 (KSEK 260 201 in Q4 2021) and KSEK 1 138 271 for 2022 (KSEK 462 866 in 2021)
- EBITDA amounted to KSEK 35 857 (KSEK 51 117 in Q4 2021) and KSEK 96 685 for 2022 (KSEK 71 541 in 2021)
- EBIT amounted to KSEK – 29 868 (KSEK 21 865 in Q4 2021) and KSEK – 64 448 for 2022 (KSEK 21 272 in 2021)
- Operational EBIT amounted to KSEK 21 265 (KSEK 33 998 in Q4 2021) and KSEK 68 468 for 2022 (KSEK 50 552 in 2021)
- Cash flow from operating activities before the change in working capital amounted to KSEK – 10 679 (KSEK 54 153 in Q4 2021) and KSEK 37 560 for 2022 (KSEK 66 085 in 2021)
HIGHLIGHTS DURING THE FOURTH QUARTER
- Modus Games announced the release date for owned IP God of Rock alongside a new gameplay trailer
- Modus Games in collaboration with Pixile Studios launched Super Animal Royale Season 6
- Merge Games and Dimfrost Studio revealed ‘Bramble: The Mountain King’s demo on PlayStation®5 as part of PlayStation’s Demo Festival
- Modus Games and inhouse studio Mane6 released owned IP Them’s Fightin’ Herds on consoles
- Modus Games in collaboration with 314 Arts announced Projekt Z, a first-person co-op zombie shooter game
HIGHLIGHTS AFTER THE FOURTH QUARTER
- MG1 Acquisition Corporation, the US affiliate of Zordix has secured a $30 million USD senior credit facility. The U.S. based facility has a maturity of 36 months and will be used to refinance existing debt, investment in owned IP games, and to pursue accretive acquisitions
- Zordix launched Maximum Entertainment as a strategically realigned global entertainment company with differentiated inhouse publishers and a newly restructured development division, Modus Studios. The company also presented a new corporate identity, a roadmap of upcoming releases and the planned acquisition of the assets of FUN Labs, a development studio based in Romania
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, employs more than 200 professionals and is a brand of Zordix AB (publ). Visit Maximum Entertainment at www.maximument.com.
About Zordix
Zordix AB (publ) is the holding company of Maximum Entertainment.
Visit Zordix at www.zordix.com.