starbreeze q1 2018 highlights · 2018. 5. 9. · 2015 q1 2015 q2 2015 q3 2015 q4 2016 q1 2016 q2...
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1Slide /
STARBREEZEQ1 2018 Highlights9 MAY 2018
2Slide /
Launch of Payday 2 for Switch
Announced and launch InkedOpen VR Park in DubaiOver subscribed share issuesStarVR listing on Taipei Exchange
Launch of Payday 2 for VR
Q1 Key deliveries
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Main FinancialTRENDS
MSEK
40,4%
19,6%
-24,3%
4,4%
92%
-40%
-20%
0%
20%
40%
60%
80%
100%
-60
-40
-20
0
20
40
60
80
100
120
140
Q1/
17
Q2/
17
Q3/
17
Q4/
17
Q1/
18
Net Sales EBITDA Net Sales YOY
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RECORD SALES AHEAD OF THE MAJOR GAME RELEASESfirst quarter 2018 Results/key figures
§Net sales increased by 92 percent
§PAYDAY generated SEK 25.1 million (24.1)
§Dead by Daylight generated SEK 62.0 million (20.9), boosted by the Dead by Daylight deal
§EBITDA increased by SEK 84 million
§Depreciation, amortization and impairments totaled SEK 42.6 million (15.5)
§ Financial net SEK -12.7 m (-5.5), due to higher interest expenses and StarVR share of loss
§The loss after tax SEK -5.2 million (-50.6)
SEKk 2018 2017Q1 Q1
Net sales 110,066 57,270EBITDA 48,840 -35,341Financial net -12,677 -5,456Profit (-loss) after tax -5,208 -50,628Earnings per share, SEK -0.02 -0.18
Net sales growth, % 92.2 40.4EBITDA margin, % 44.4 -61.7
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License deals 30%PC 26%
Dead BY Daylight 56%PAYDAY 23%
REVENUE BREAKDOWN Q1 2018
Console 24%
VR Center 1%SERVICES19%
other 21%
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Strong net sales development
33 37
115142
169
214
154 161177
197217 218 212
242
295
345362
382357 361
414
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
Net sales, LTM (SEKm)
Net sales development, 2013 Q1–2018 Q1 Net sales by title per quarter, 2013 Q3–2018 Q11)
90
4032
51
30
48 48
72
50 4941
103 103 99
57
123
78
104110
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
PAYDAY 2 Dead by Daylight RAID: World War II Other
1) Other equals residual of total net sales less mentioned games in graph
Largest game ~85–100% of net sales Largest game ~40–60%>12x increase
SEKm
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investmentssecuring future growth
14
7150
74
35
33
Q1 2017 Q1 2018Fixed assets (SEKm) Own games and technology (SEKm) Publishing projects (SEKm)
Investments during Q1 2018 vs Q1 2017, SEKm
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New functionbased p&L
Net sales 110.1
Capitalized costs 74.0
Total revenues 192.6
Operating expenses -143.7
EBITDA 48.9
Depreciations -42.6
EBIT 6.3
Net sales 110.1
Direct costs 76.9
Gross profit 33.1
Selling and marketing costs -9.9
Administrative expenses -25.5
Other revenue 8.5
EBIT 6.3
Old – Cost based New – function based
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Successful share issues powering accelerated growth
§ Successful directed issue of new shares to Swedish and international investors of SEK 238 million before transaction costs.
§ Oversubscribed rights issue raised SEK 152 million before transaction costs.
The new share issues…
§ to fully execute our plan to achieve revenue of at least SEK 2 billion in 2020,
§ to form and execute on a solid marketing plan for OTWD,
§ to make new great content for PAYDAY 2 until 2019,
§ accelerating the production plan for PAYDAY 3
§ and to continue to build momentum within our publishing business.
… enable us
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PAYDAY 2released on NINTEndoswitch
https://www.starbreeze.com/2018/02/payday-2-now-available-on-the-nintendo-switch-system-in-europe-and-australia/
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Payday 2:VR launch
https://www.starbreeze.com/2018/03/payday-2-vr-out-now-on-steam/
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At peak 91,000played payday 2 in april 0
50 000
100 000
150 000
200 000
250 000
300 000
apr-1
5
juli-
15
okt-1
5
jan-
16
apr-1
6
juli-
16
okt-1
6
jan-
17
apr-1
7
juli-
17
okt-1
7
jan-
18
apr-1
8
Concurrent players (avg) Concurrent players (peak)
Linear (Concurrent players (avg)) Linear (Concurrent players (peak))
13Slide /
MAYA trailer reveal OTWD
https://www.starbreeze.com/2018/04/overkills-the-walking-dead-character-reveal-trailer-maya/
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Playstationmagazine -OTWD
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Dead by daylight the saw chapter
www.starbreeze.com/2018/01/dead-by-daylight-saw-chapter-launches-on-steam-xbox-one-and-playstation4/
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Dead by Daylight dream deal
https://www.starbreeze.com/2018/03/starbreeze-sells-rights-to-dead-by-daylight-to-behaviour-for-usd-16-million/
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10 CrownsPublishing
www.starbreeze.com/2018/02/starbreeze-publishing-signs-mohawk-games-strategy-title-10-crowns/
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Release of indie title inked
https://www.starbreeze.com/2018/04/puzzle-platformer-inked-available-now-on-steam/
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VR PARK dubai mall grand opening
https://www.starbreeze.com/2018/02/starbreeze-major-partner-to-emaar-entertainments-vr-park-opening-march-1st/
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StarVRlisted on Taipei exchange
https://www.starbreeze.com/2018/04/starvr-corporation-first-day-of-trading-on-tpexs-emerging-stocks-board/
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VR experience Hero wins award At tribeca
https://www.starbreeze.com/2018/04/ink-stories-vr-experience-hero-awarded-at-tribeca/
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The financial targets
361
~2,000 (financial target)
2017 2020E
current revenue generators
System Shock 3 Psychonauts 2
Revenue generators 2020
Net sales (SEKm)
23Slide /
Questions?The Starbreeze team