FOCUS ON OUR DEFINED STRATEGY
Summary April – June 2020
- Sales for the period amounted to SEK 3,874 thousand (3,578), an increase of 8 percent compared with the same period last year.
- The Group’s profit before net interest income and tax (EBIT) for the period amounted to SEK 2,077 thousand (990).
- Net earnings per share amounted to 0.09 (0.07)
- Cash flow from operating activities for the period amounted to SEK 3,272 thousand (1,660).
- The equity to assets ratio was 69.7 percent (78.5)
CEO’S COMMENTS
FOCUS ON OUR DEFINED STRATEGY
Despite the ongoing pandemic, the second quarter has meant high activity and important milestones for the Group’s four business areas. We are fortunate to be active in an industry where a temporary transition to remote work has been relatively easy, and where we have been able to maintain an uninterrupted focus on the business. This quarterly report is the first in which Invictus’s figures are reported at Group level and thus Zordix’s first income from a foreign subsidiary.
Our continued execution towards Zordix’s long-term strategic goals; to grow through acquisitions, own and manage our own brands, and build a publishing business, means that according to plan, revenues will vary from quarter to quarter in connection with game releases. The company’s strategy for its own development projects has been updated to a greater focus on its own IPs; with the door open for co-publishing and work-for-hire.
All three studios currently have projects under their own IPs in AA size with a large potential upside. Previous work-for-hire assignments with monthly invoicing, have provided good conditions for reinvesting in our own IPs and completing our new acquisition-driven strategy where we build a group across the entire value chain.
Please note that this is an excerpt. The article can be read in its entirety (in Swedish only) at zordix.com