STOCKHOLM–(BUSINESS WIRE)–G5 Entertainment Group (STO:G5EN):
April – June 2020
“I stand back and look at the success G5 had during the second quarter and I’m thrilled to see how our new generation of games contributed to our rapidly growing revenue and higher margins. The lockdowns due to the virus impacted the quarter, but they only accelerated the inevitable” said Vlad Suglobov, CEO of G5 Entertainment. “Revenue from our portfolio of own games surged more than 90 percent in the second quarter and 43 percent sequentially from the first quarter. The portion of revenue coming from our own games continued to increase going into July. This growth, combined with the more efficient marketing, helped boost our EBIT margin during the period.”
- Revenue for the period was SEK 376.3 M (297.3), an increase of 27 percent compared to 2019.
- Gross margin increased to 57 percent (55) primarily due to an increasing share of revenue from own games.
- EBIT for the…