MindArk Year-end Report 2023

MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's year-end report for 2023 and interim report for Q4 2023 have been published.

Comment from CEO Henrik Nel Jerkrot:

"As we bring 2023 to a close, it is gratifying to present a strong end to the year. The reorganization we carried out in Q2 and Q3 has translated into a strong boost in profitability in Q4. We can also note that our universe continues to grow. In the fourth quarter, the revenue increase attributable to Entropia Universe exceeded 27% compared to the same period last year."

Reporting period
The report covers the period January 1 – December 31, 2023 and October 1 – December 31, 2023.

October 1 – December 31, 2023

Group figures. Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 46.3 MSEK (29.1 MSEK) 
• Work in progress amounted to 4.8 MSEK (6.9 MSEK)
• Operating profit amounted to 26 MSEK (10.4 MSEK)
• Profit before tax amounted to 26.7 MSEK (12.8 MSEK)
• Cash & cash equivalents including short-term investments 36.6 MSEK
• No interest-bearing liabilities
• Provision for unspent user funds 33 MSEK
• Earnings per share for the period amounted to 0.89 SEK (0.25 SEK)

January 1 – December 31, 2023

Group figures. Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 122 MSEK (92.8 MSEK) 
• Work in progress amounted to 26.2 MSEK (26,5 MSEK)  
• Impact of restructuring costs on profit  -14 MSEK
• Operating profit amounted to 20.5 MSEK (21.4 MSEK)  
• Profit before tax amounted to 19.3 MSEK (12 MSEK)  
• Cash & cash equivalents including short-term investments 36.6 MSEK
• No interest-bearing liabilities
• Provision for unspent user funds 33 MSEK 
• Earnings per share for the period amounted to 0.60 SEK (0.23 SEK) 

Significant events during Q4

• The company announces a new strategy for the development of Entropia Universe in Unreal Engine 5.
• Magnus Ryme is appointed CTO (Chief Technology Officer) and Terrence Verlander is appointed as the company’s CAIO (Chief Artificial Intelligence Officer).

Significant events after the end of the reporting period
No significant event after the end of the period.

Financial reports 

The Company's financial statements, including the forthcoming report, are available on the Company's website, www.mindark.se/investor-relations/financial-reports/. It is available in a Swedish and an English version.

Auditor

This financial statement has not been reviewed by the Company’s auditor.

Financial calendar

Annual report 2023 March 6, 2024

Annual General Meeting March 27, 2024

Interim Report Q1 2024 May 15, 2024

Interim Report Q2 2024 August 28, 2024

This information is such that MindArk PE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person indicated, at 08:00 CET on February 28, 2024.