MGI's strong operational performance has led to significantly lower cost of capital, which is reflected for example in the recent increase of its Nordic bond (ISIN: SE0015194527) by EUR 80 million to a total of EUR 350 million at an issue price of 103%. The resulting yield to maturity of 4.76% as of the issue date is significantly lower than the 7% nominal interest rate of the German unsecured bond, which is why the company decided to redeem the German bond prematurely. The redemption was made at a price of 103% of the nominal amount plus accrued interest.
“MGI has made significant progress since the issuance of the German bond two years ago. Based on the consequent execution of our strategy, to build critical mass through inorganic, M&A based growth, in combination with organic growth, based on a portfolio approach, we were able to grow at a revenue CAGR of over 70% in the last three years. From our start in 2012 until 2017, we grew purely inorganically, while we started shifting our focus towards organic growth after that period. Based on targeted investments in organic growth we started our organic growth path in 2018 with 5% organic growth and were able to steadily increase this towards the 37% organic growth in the first half of 2021.This was also possible thanks to the funds and trust of our bond investors and our shareholders. For this, I would like to express my sincere thanks and we look forward to further profitably growing MGI.”, says Remco Westermann, CEO of Media and Games Invest SE.
The information in this release has been made public through the agency of the responsible persons set out below for publication at the time stated by MGI's news distributor EQS Newswire at the publication of this release. The responsible persons below may be contacted for further information.
For further information, please contact:
Jenny Rosberg, ROPA, IR contact Stockholm
Axel Mühlhaus / Dr. Sönke Knop, edicto GmbH, IR contact Frankfurt
+49 69 9055 05 51
About Media and Games Invest SE
Media and Games Invest SE is a digitally integrated games and media company with main operational presence in Europe and North America. The company combines organic growth with value-generating synergetic acquisitions, demonstrating continuous strong, profitable growth with a revenue CAGR of 78% (2018 – LTM Q2’21). Next to strong organic growth, the MGI Group has successfully acquired more than 30 companies and assets in the past 6 years. The acquired assets and companies are integrated and amongst others cloud technology is actively used to achieve efficiency gains and competitive advantages. The Company's shares are listed on Nasdaq First North Premier Growth Market in Stockholm and in the Scale segment of the Frankfurt Stock Exchange. The Company has a secured bond that is listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market.
The Company's certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; [email protected], +46-8-528 00 399.
This release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this release, including the pro-forma financial figures addressed therein, are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements and pro-forma financial numbers are reasonable it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this release (including the pro-forma financial figures) are free from errors and readers of this release should not place undue reliance on the forward-looking statements in this release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this release, unless it is so required by law or applicable stock exchange rules.