Enad Global 7 Interim Report: January–March 2025

Key insights

6 takeaways

01
Enad Global 7 reported Q1 2025 net revenue of SEK 455.3 million, a 19.3% year-over-year increase driven by 16% organic growth.See it on page 1
02
The Fireshine subsidiary experienced a 213.6% revenue surge, significantly contributing to the company's overall top-line expansion.See it on page 3
03
Despite revenue growth, the company recorded a net loss of SEK 18.5 million, impacted by restructuring costs, depreciation, and market corrections at the Petrol subsidiary.See it on page 7
04
Adjusted EBITDA reached SEK 73.7 million for the quarter, though adjusted EBIT was limited to SEK 1.7 million due to non-operating costs.See it on page 5
05
The company issued SEK 350 million in unsecured bonds in February, resulting in a cash position of SEK 579.2 million and a net cash balance of SEK 224.4 million by the end of March.See it on page 27
06
Management intends to utilize the current liquidity and capital reserves to prioritize future mergers and acquisitions.See it on page 3

Summary

Enad Global 7 demonstrated significant top-line expansion during the first quarter of 2025, achieving net revenue of SEK 455.3 million. This represents a 19.3% year-over-year increase, underpinned by 16% organic growth and a notable 213.6% revenue surge within the Fireshine subsidiary. The company’s performance reflects the stability of its live-service portfolio and the strategic multi-platform expansion of titles such as Palia, which launched on consoles following the close of the quarter.

Despite these revenue gains, the company recorded a net loss of SEK 18.5 million for the period. Profitability was constrained by substantial restructuring costs, market corrections at the Petrol subsidiary, and ongoing depreciation and amortization expenses. While adjusted EBITDA reached SEK 73.7 million, the bottom line remained under pressure from these operational and financial obligations. Adjusted EBIT stood at a modest SEK 1.7 million, highlighting the impact of these non-operating costs on overall earnings.

To fortify its financial foundation, the company successfully issued SEK 350 million in unsecured bonds during February. This capital injection, combined with existing liquidity, resulted in a cash position of SEK 579.2 million and a net cash balance of SEK 224.4 million by the end of March. These resources are earmarked to support future mergers and acquisitions as management continues to prioritize long-term growth. By balancing cost-optimization measures with strategic investments, the organization aims to navigate current market volatility while maintaining its trajectory within the global gaming sector.