Azerion Holding B.V. Interim Results Q4 2021 –
Press Release
Interim Unaudited Financial Results Q4 2021 and Preliminary
Unaudited Financial Results Full Year 2021
Revenue more than doubled in Q4 2021
Highlights of Q4 2021
? Revenue for the quarter amounted to EUR 126.3m, an increase of EUR 69.0m, or
120.4%, as compared to Q4 2020 (EUR 57.3m). Of that increase EUR 32.8m was
attributable to acquisitions made in 2021 and EUR 36.2m to the underlying
business as it stood at the end of 2020 across Platform and Premium Games
? Adjusted EBITDA for the quarter amounted to EUR 19.1m, an increase of EUR
7.8m, or 68.9%, as compared to Q4 2020 (EUR 11.3m)
? All activities have continued to perform well throughout Q4 2021
? During Q4 2021, Azerion completed the acquisition of Titan Gate AD (also
known as PubGalaxy) and Inskin Media Ltd
Highlights of Full Year 2021
? Revenue amounted to EUR 308.1m, an increase of 57.9% as compared to the full
year 2020 (EUR 195.1m) On a pro forma basis, including the revenue that would
have been recognized if all acquisitions in 2021 were part of the group for the full
year 2021, revenue is estimated at approximately EUR 384.5m
? Adjusted EBITDA amounted to EUR 46.1m, an increase of 73.9% as compared
to the full year 2020 (EUR 26.5m). On a pro forma basis, including the
contribution that would have been recognized if all acquisitions in 2021 were part
of the group for the full year 2021, adjusted EBITDA is estimated at
approximately EUR 54.3m
? Before acquisitions completed in 2021, the underlying business as it stood at the
year ended 2020 delivered revenue for full year 2021 of EUR 255.5m,
representing approximately 31% growth on reported revenue for full year 2020
? In 2021, Azerion completed the acquisition of Genba Digital Limited, Whow
Games Gmbh, Delta Projects AB, Strossle International AB, Kmobile AB,
Sublime Skinz Lab SAS, Admeen B.V., Titan Gate AD and Inskin Media Ltd.
Financial Overview (Unaudited)
Financial results (EURm) Pro
Forma
of the Azerion Holding B.V. Q4 2021 Q4 2020 FY 2021 FY 2020 FY21
Revenue 126.3 57.3 308.1 195.1 384.5
COGS (76.8) (38.5) (186.9) (125.1)
Gross profit 49.6 18.8 121.2 69.9
Operating Expenses (39.8) (8.5) (89.5) (48.1)
Reported EBITDA 9.7 10.3 31.7 21.9
Adjusted EBITDA 1 19.1 11.3 46.1 26.5 54.3
Revenue growth, % (YoY) 120.4% 57.9%
Gross margin, % 39.2% 32.7% 39.3% 35.8%
Adjusted EBITDA growth % (YoY) 68.9% 73.9%
Adjusted EBITDA margin, % 15.1% 19.7% 15.0% 13.5% 14.1%
1 As defined in section 1.1 of the Terms & Conditions of the Senior Secured Calla