Enad Global 7 Interim Report: Jul-Sep 2023

Enad Global 7 demonstrated robust financial performance during the third quarter of 2023, achieving net revenue of SEK 517.3 million, which represents a 16.4% year-over-year organic growth rate. This period was characterized by an adjusted EBITDA of SEK 140.7 million and an adjusted EBITDA margin of 27%. While net profit declined to SEK 10.0 million compared to the previous year, the company’s cumulative revenue for the first nine months of 2023 reached SEK 1,571.9 million, marking a substantial increase over the SEK 1,306.9 million recorded during the same timeframe in 2022.

The group’s success is largely attributed to the strong performance of its diversified game and service segments, most notably Big Blue Bubble, which experienced triple-digit growth driven by the sustained popularity of My Singing Monsters. Operational momentum was further supported by solid results from Fireshine and Piranha Games, the latter of which is positioned for continued expansion with the upcoming release of MechWarrior 5: Clans. These gains occurred alongside a strategic transition to a business-unit-based reporting structure and the successful divestment of the Russian subsidiary, Innova, which concluded in 2022.

Looking toward the future, the company maintains a strong liquidity position with SEK 472.5 million in cash. Leadership has established a clear growth strategy centered on middle-market publishing, with ambitious financial targets of SEK 3 billion in revenue and SEK 1 billion in adjusted EBITDA by 2026. By focusing on these core segments and maintaining operational discipline, the organization aims to leverage its current momentum to drive long-term value within the global gaming market.