Based on these preliminary results for the first half of 2020, MGI raises its revenue and earnings forecast for the fiscal year 2020. MGI now expects revenues in the range of EUR 115 to 125 million for the 2020 financial year. This corresponds to a growth of +37% to +49% compared to 2019. Originally, MGI had only forecasted a revenue growth of EUR 110 million, representing roughly 30%, for 2020. Furthermore, MGI for the first time gives an profit forecast for 2020, according to which MGI expects an EBITDA of between 20 million and 23 million euros in 2020. This EBITDA forecast is above the average of analysts' estimates, who expect an EBITDA of EUR 20 million in 2020.
The complete financial figures as well as further information on the 2020 business development so far will be published in the half-year report on August 12, 2020.
* Earnings before interest, taxes, depreciation and amortization as defined on page 7 of the consolidated financial statements 2019 of Media and Games Invest plc.
About Media and Games Invest plc:
Media and Games Invest plc, MGI, is a fast and profitable growing company in the synergetic sectors of digital media and online games. The company combines organic growth with value-generating acquisitions. The MGI Group has successfully acquired over 30 companies and assets over the past six years. The acquired assets and companies are integrated and amongst others technology is actively used to achieve efficiency gains and competitive advantages. Media and Games Invest is listed on the Frankfurt Stock Exchange and on XETRA.
This press release contains possible forward-looking statements that are based on the current assumptions and forecasts of the company management of Media and Games plc or companies associated with it. Various known and unknown risks and uncertainties, as well as other factors, could mean that the actual results, financial circumstances, the development or performance of Media and Games invest plc and the companies associated with it may deviate significantly from the estimations presented here. Neither Media and Games Invest plc nor the companies associated with it are obligated to update this sort of forward-looking statement or adjust them to future results or developments.
Axel Mühlhaus / Dr. Sönke Knop
Telephone: +49 69 9055 05 51
Media and Games Invest plc
Sören Barz, Head of Investor Relations
St. Christopher Street 168
Valletta VLT 1467