Funcom NV today announces its fourth quarter and preliminary 2017 annual results. The highlights from the report include:
- 2017 is the most profitable year in the Company’s history, with a profit before tax of USD 6,647 thousand illustrating the successful execution of the first phase of the strategic turnaround initiated in 2015.
- Positive EBITDA in 4Q17 despite the quarter being dominated by preparations for 2018 launches and transaction costs related to the private placement and Heroic Signatures.
- Conan Exiles is on track for full launch on 8 May 2018, in 12 languages, digital and retail stores, worldwide with several partners.
- The Bearded Dragons partnership game will be revealed tomorrow, 28 February 2018, and is on track to be released this year.
- Financial position strengthened further in 1Q18 with NOK 88.4million private placement cash inflow from Robur on top of the 4Q17 cash balance of USD 8,079 thousand.
- Since 1 February 2018 Funcom has owned 50% of the gaming rights for Conan the Barbarian and many other Intellectual Properties through Heroic Signatures and received IP royalties through the company. The transaction increases the equity of Funcom by approximately USD 7 million in 1Q18.
- A new major internal project has been greenlit and starts pre-production in March 2018.
As previously announced a presentation will be held on the Funcom channel on Twitch, www.twitch.tv/funcom at 8:00pm CET today 27 February. The presentation will be held in English by Rui Casais, CEO of Funcom, and Stian Drageset, CFO.
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Badhoevedorp, The Netherlands, 27 February 2018
This information is subject to the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).