25.8.2021 07:00:01 CEST | Play Magnus AS | Half yearly financial reports and audit reports / limited reviews
(Oslo, 25 August 2021) – Play Magnus Group, a global leader in the chess industry, today published its financial results for the first half and second quarter 2021. In the second quarter, bookings grew by 211 percent year over year to USD 6.0 million and revenue grew by 178 percent to USD 5.1 million compared to Q2 2020. This was driven by partnerships for the Meltwater Champions Chess Tour and 91 percent growth in the number of monthly paying users and 14 percent growth in average revenue per paying user.
“For Play Magnus Group, Q2 represented another confirmation of the chess opportunity in esports and elearning. Two tournaments still remain this season, however we can already conclude that the Meltwater Champions Chess Tour is an enormous success both in terms of viewership and the number of commercial partners we have been able to attract,” CEO of Play Magnus Group Andreas Thome said.
“Elearning has been our fastest growing segment and we are servicing only a fraction of the total addressable user base. We are continuing to invest in elearning through the launch of Chessable Classroom, a tool designed to facilitate chess coaching in a full-suite, engaging online environment. Combined with the acquisition of US chess learning provider Silver Knights, we look forward to enabling more people, in particular children, around the world to learn and enjoy the game of chess.”
The 2021 guidance for bookings is raised to USD 23-25 million from USD 21-23 million driven by the strong performance in the first half of the year and positive outlook for the remainder of the year. With the increase in guidance for 2021, Play Magnus Group is now on an accelerated pace towards its long-term target set in October 2020 to reach USD 60+ million in bookings in 2025.
In Q2 2021 Play Magnus Group had on average 60,600 monthly paying users, up from 31,800 one year earlier. Average monthly revenue per paying user was USD 16.4, up from USD 14.5 one year earlier.
“We are happy to see that our paying users and ARPPU continued to be strong year over year in the first half, and we expect to see this continue in the second half with the Final of the Meltwater Champions Chess Tour and World Chess Championship which will generate further interest in chess.” said Andreas Thome.
Play Magnus Group invested significantly into growth initiatives, in particular the Meltwater Champions Chess Tour, acquisition of broadcast rights, and expansion of development teams for digital services leading to a negative Adjusted EBITDA of USD -3.5 million in the quarter.
Financial highlights in Q2 2021
Q2 Bookings USD 6.0 million (+211% Y/Y)
H1 2021 Bookings USD $11.3M million (+216% Y/Y)
Q2 Revenue USD 5.1 million (+178% Y/Y)
H1 2021 Revenue USD $9.7M million (+225% Y/Y)
Q2 Average Monthly Paying Users 60,600 (+91% Y/Y)
Q2 Average Revenue per Paying User (ARPPU) USD 16.4 (+14% Y/Y)
FY 2021 guidance of Bookings USD 23-25 million (previously USD 21-23 million)
Q2 Adjusted EBITDA USD -3.5 million
Please find enclosed Play Magnus Group’s interim H1 2021 report and Q2 2021 presentation material.
A presentation and a Q&A session will be hosted by CEO Andreas Thome and CFO Dmitri Shneider today, 25 August 2021 at 08:00 CET.
The webcast is available on https://playmagnusgroup.com/investor or https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210825_2.
Viewers are encouraged to send in questions in writing during and after the presentation through the form in the webcast window. A recording of the webcast will be available on the same link shortly after the end of the presentation.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Andreas Thome, CEO, Play Magnus Group, andreas@playmagnus.com
Dmitri Shneider, CFO, Play Magnus Group, dmitri@playmagnus.com
About Play Magnus AS
Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers elearning and entertainment services via its market leading brands: chess24, Chessable, iChess, New In Chess, Everyman Chess, Silver Knights, CoChess, Aimchess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group’s mission is to grow chess to make the world a smarter place by encouraging more people to play, watch, study, and earn a living from chess.
Play Magnus Group is listed on Euronext Growth Oslo under the ticker PMG. For more information visit pmg.me.
Attachments
Download announcement as PDF.pdf
Play Magnus Group H1 2021 Report.pdf
Play Magnus Group Q2 2021 Presentation.pdf
25.8.2021 07:00:01 CEST | Play Magnus AS | Halvårsrapporter og revisjonsberetninger/uttalelser om forenklet revisorkontroll
(Oslo, 25. august 2021) – Det globale sjakkselskapet Play Magnus Group offentliggjorde i dag sine resultater for andre kvartal 2021. Ordreinngangen økte med 211 prosent sammenlignet med samme periode i fjor til 6,0 millioner dollar. Driftsinntektene økte med 178 prosent til 5,1 millioner dollar. Dette ble drevet av 91 prosent vekst i antall betalende brukere,14 prosent vekst i inntekt per betalende bruker i tillegg til et sterkt bidrag fra Meltwater Champions Chess Tour-partneravtaler.
– Q2 var nok en bekreftelse for Play Magnus Group på mulighetene sjakksporten gir innen e-sport og e-læring. To turneringer gjenstår fortsatt denne sesongen, men vi kan allerede nå konkludere med at Meltwater Champions Chess Tour er en enorm suksess både når det gjelder seertall men også i antall kommersielle partnere, sier administrerende direktør i Play Magnus Group, Andreas Thome, og fortsetter:
– E-læring har vært vårt raskest voksende segment, og vi har foreløpig kun nådd ut til en brøkdel av det totale markedet. Vi fortsetter å investere i e-læring gjennom lanseringen av Chessable Classroom, et verktøy som legger til rette for sjakkcoaching i et engasjerende nettmiljø. Kombinert med oppkjøpet av det amerikanske sjakklæringsselskapet Silver Knights, ser vi frem til å gjøre det mulig for flere vokse og barn rundt om i verden å lære seg sjakk.
Play Magnus Group øker guidingen for ordreinngang i 2021 til 23-25 millioner dollar grunnet sterkt utvikling i første halvår og positive utsikter for resten av året. Den forrige guidingen var 21-23 millioner dollar. Med hevingen av guidingen i 2021, øker Play Magnus farten på vei mot målet som ble satt i oktober 2020 om en årlig ordreinngang på 60 millioner dollar i 2025.
I andre kvartal 2021 hadde Play Magnus Group i gjennomsnitt 60.600 betalende brukere, opp fra 31.800 i samme periode i fjor. Gjennomsnittlig inntekt per betalende bruker var 16,4, dollar, opp fra 14,5 dollar i andre kvartal 2020.
-Vi er glade for at antall betalende kunder og gjennomsnittlig inntekt per betalende bruker (ARPPU) fortsatte å være høy sammenlignet med fjoråret. Vi forventer at denne positive utviklingen vil fortsette i andre halvår med finalen i Meltwater Champions Chess Tour og verdensmesterskapet i sjakk i Dubai som vil skape ytterligere interesse for sjakk, sier Thome
Play Magnus Group investerte tungt i ulike vekstinitiativ gjennom kvartalet, som for eksempel utvikling av Meltwater Champions Chess Tour, kjøp av kringkastingsrettigheter og ansettelse av flere utviklere til de digitale tjenestene. Dette var medvirkende til at selskapet hadde en negativ justert EBITDA på -3,5 millioner dollar i andre kvartal.
Finansielle høydepunkter Q2 2021
Q2 ordreinngang: 6,0 millioner dollar (+211% å/å)
H1 ordreinngang:11,3 millioner dollar (+216% å/å)
Q2 driftsinntekter: 5,1 millioner dollar (+178 % å/å)
H1 driftsinntekter: 9,7 millioner dollar (+225% å/å)
Q2: Gjennomsnittlig månedlig betalende brukere: 60.600 (+91% å/å)
Q2: Gjennomsnittlig inntekt per betalende bruker (ARPPU): 16,4 dollar (+14% å/å)
Helår 2021 guiding: Ordreinngang USD 23-25 millioner (tidligere USD 21-23 millioner)
Q1 justert EBITDA: -3,5 millioner dollar
Vedlagt er presentasjonen for Play Magnus Group Q2 2021.
En webcast og en Q&A-sesjon blir arrangert av administrerende direktør Andreas Thome og finansdirektør Dmitri Shneider i dag, 25. august klokken 08:00 CEST.
Webcasten er tilgjengelig på: https://playmagnusgroup.com/investor eller https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210825_2.
Seerne oppfordres til å sende spørsmål skriftlig under og etter presentasjonen gjennom skjemaet i webcast-vinduet. Et opptak av webcasten vil være tilgjengelig på samme lenke kort tid etter presentasjonen.
Informasjonspliktig opplysning
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Kontakter
Andreas Thome, CEO, Play Magnus Group, andreas@playmagnus.com
Dmitri Shneider, CFO, Play Magnus Group, dmitri@playmagnus.com
Om Play Magnus AS
Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers elearning and entertainment services via its market leading brands: chess24, Chessable, iChess, New In Chess, Everyman Chess, Silver Knights, CoChess, Aimchess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group’s mission is to grow chess to make the world a smarter place by encouraging more people to play, watch, study, and earn a living from chess.
Play Magnus Group is listed on Euronext Growth Oslo under the ticker PMG. For more information visit pmg.me.
Vedlegg
Last ned som PDF.pdf
Play Magnus Group H1 2021 Report.pdf
Play Magnus Group Q2 2021 Presentation.pdf
