Interim report January – June 2019

2019-08-07

Download PDF

Second quarter: 1 April – 30 June 2019

  • Revenues totalled EUR 9.4 million (7.0), a 35% increase.
  • Gaming revenues increased 44% to EUR 8.6 million (6.0).
  • Revenues from regulated markets were 94%.
  • Total active customers were 37,753 (34,345), an increase of 10%.
  • Deposits totalled EUR 27.9 million (17.7), a 58% increase.
  • Media revenues were EUR 0.53 million (0.66), a decrease of 20%.
  • Number of NDC’s in Media totalled 3,259 (886), an increase of 268%.
  • Solutions revenues decreased 14% to EUR 0.28 million (0.33).
  • Adjusted EBITDA was EUR 2.87 million (2.09), adjusted EBITDA margin 
was 30.5% (30.0).
  • EBITDA was EUR 2.51 million (1.80), EBITDA margin was 26.7% (25.9%).
  • EPS growth of 71% to 0.032 EUR per share (0.019).

6-month period: 1 January – 30 June 2019

  • Revenues totalled EUR 18.4 million (14.1), a 31% increase.
  • Adjusted EBITDA was EUR 5.66 million (4.36), adjusted EBITDA margin 
was 30.8% (30.9). 
  • EBITDA was EUR 5.30 million (3.95), EBITDA margin was 28.8% (28.0%).
  • EPS growth of 53% to 0.069 EUR per share (0.045).

“Again, we can boast having ‘Our best quarter yet!’ I am very pleased with our results in Q2 considering the period is historically the weakest of the year. Our Gaming vertical continues to deliver strong results with all KPI’s hitting all-time highs for the period, Media has started to turn around, all while we achieved significant product development milestones.

“As a group, we showed revenue growth of 35% driven mainly by a 44% revenue increase in Gaming compared to the same period last year. Though Media revenue decreased year-over-year, the Media business area has seen significant changes over the last year. The longer-term trend was steeply declining positive cash flow due to limited investment. But with the Q1 changes, we managed to stop the decline and turn operations around to take a very promising position. The business area is now showing increases in underlying KPIs again. For example, Media had a 268% increase in NDC count, which is a clear indicator that we are on the right track and that our Q1 investment has started to bring results. In line with growth in NDC, Media showed 17% quarter-on-quarter revenue growth and a positive EBITDA. Our Solutions vertical performed as expected with stable operations and no material changes from the previous quarter. Overall, we kept momentum going in Q2 with solid growth and a very healthy margin of 31% adjusted EBITDA. I’m also proud of how well we convert EBITDA to net profit – we have only 6% of costs below EBITDA, resulting in an adjusted net profit margin of 25%. With an adjusted EPS growth of 62% we are also continuing to deliver on our financial goal of at least 40% annual EPS growth.

“To summarize the quarter, we maintained our momentum from Q1 and improved on it. I feel good being able to continue proving to our shareholders they can count on Enlabs for steady profitable growth, with no drama. It feels reassuring that we have 94% sustainable revenue from regulated markets where gaming tax is a natural part of the business. Considering the absence of major sport events, which often boost activity, July turned out very good for us. From August onward we are entering what we consider the peak season in our business.” Says CEO and Group president Robert Andersson. 

The report is attached this press release and is available at www.enlabs.se 

A presentation of the report will be held today at 10:00 CET through the link:

https://www.redeye.se/live/enlabs-q2-2019 

For more information, please contact:

Enlabs AB

Robert Andersson, CEO

[email protected] / +371 2 7327810

Adam Jonsson, Head of IR

[email protected] / +46 738200058

About ENLABS

Enlabs stands for Entertainment Laboratories. We are a company that creates entertainment through innovative thinking within three business areas: Gaming, Media and Solutions. The corporate group has offices in Tallinn, Riga, Vilnius, Malta, Marbella and Stockholm. The operating subsidiaries hold national licenses for their operations and the Group employs approximately 200 employees. Enlabs is listed on NASDAQ First North in Stockholm. The company’s Certified Adviser is Redeye, +46 (0)8 121 576 90, [email protected]

For more information, visit enlabs.se

ENLABS AB is obliged to publish the above information in accordance with the EU’s Market Abuse Regulation. The information was provided by the above contact person for publication at 08:00 CET on 7 August 2019.

Subscribe to our press releases & reports