MindArk Year-end Report 2023

[GeorgeSkywalker]

Link to press release from MindArk:
https://spotlightstockmarket.com/sv/market-overview/nyheter//nyhets-artikel?id=102590

Link to actual report in pdf:
https://www.mindark.se/investor-rel...cuments/2024/MindArk-Year-End-Report-2023.pdf

Copy paste of press release from first link above:

Press release from Companies
Publicerat: 2024-02-28 08:00:00

Mindark PE Aktiebolag: MindArk Year-end Report 2023​

MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's year-end report for 2023 and interim report for Q4 2023 have been published.


Comment from CEO Henrik Nel Jerkrot:
"As we bring 2023 to a close, it is gratifying to present a strong end to the year. The reorganization we carried out in Q2 and Q3 has translated into a strong boost in profitability in Q4. We can also note that our universe continues to grow. In the fourth quarter, the revenue increase attributable to Entropia Universe exceeded 27% compared to the same period last year."

Reporting period
The report covers the period January 1 – December 31, 2023 and October 1 – December 31, 2023.

October 1 – December 31, 2023
Group figures. Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 46.3 MSEK (29.1 MSEK)
• Work in progress amounted to 4.8 MSEK (6.9 MSEK)
• Operating profit amounted to 26 MSEK (10.4 MSEK)
• Profit before tax amounted to 26.7 MSEK (12.8 MSEK)
• Cash & cash equivalents including short-term investments 36.6 MSEK
• No interest-bearing liabilities
• Provision for unspent user funds 33 MSEK
• Earnings per share for the period amounted to 0.89 SEK (0.25 SEK)

January 1 – December 31, 2023
Group figures. Comparative figures in parentheses refer to the same period last year.

• Turnover amounted to 122 MSEK (92.8 MSEK)
• Work in progress amounted to 26.2 MSEK (26,5 MSEK)
• Impact of restructuring costs on profit -14 MSEK
• Operating profit amounted to 20.5 MSEK (21.4 MSEK)
• Profit before tax amounted to 19.3 MSEK (12 MSEK)
• Cash & cash equivalents including short-term investments 36.6 MSEK
• No interest-bearing liabilities
• Provision for unspent user funds 33 MSEK
• Earnings per share for the period amounted to 0.60 SEK (0.23 SEK)

Significant events during Q4

• The company announces a new strategy for the development of Entropia Universe in Unreal Engine 5.
• Magnus Ryme is appointed CTO (Chief Technology Officer) and Terrence Verlander is appointed as the company’s CAIO (Chief Artificial Intelligence Officer).

Significant events after the end of the reporting period
No significant event after the end of the period.

Financial reports
The Company's financial statements, including the forthcoming report, are available on the Company's website, www.mindark.se/investor-relations/financial-reports/. It is available in a Swedish and an English version.

Auditor
This financial statement has not been reviewed by the Company’s auditor.

Financial calendar
Annual report 2023 March 6, 2024
Annual General Meeting March 27, 2024
Interim Report Q1 2024 May 15, 2024
Interim Report Q2 2024 August 28, 2024
This information is such that MindArk PE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person indicated, at 08:00 CET on February 28, 2024.



Contact person
Henrik Nel Jerkrot
CEO, MindArk PE AB (publ)
hennel@mindark.com
Tel: 031 607 260

CisionLink

MindArk Year-End Report 2023
Läs mer hos Cision

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Läs mer om Mindark PE Aktiebolag

 

[Angela Draniie Cloud]

Average withdraw rate in the just 5 years is 23.4% of deposits compared to the historical high of 35%.


“Furthermore, the system's handling of "loot" was redesigned, solving the problem of high load delays and significantly improving the gaming experience.
The forthcoming design aims to provide cohesive, upgraded functionality and performance, setting the stage for smoother future updates to meet the requirements of both the user community and MindArk.””

140.5m ped tt across all accounts end of q2023

Love the reports. It’s where you can really start to see the numbers

 

[Pete Longmorn]

Capitalized work > Operating profit
Cash flow = -5 534 kSEK

 

[ColonelBuckshot]

The bit I always look forward to reading:

TECHNICAL DEVELOPMENT OF ENTROPIA UNIVERSE Q4 2023

In the fourth quarter, a new content expansion named “Spawn of Echidna” was released, serving as a sequel to the earlier content “Flight of the Scarabs”. This expansion for Planet Calypso featured new Spina creatures, updates to the Codex, quests, powerful items and armors, along with revamped areas for exploration including two instances. One of these instances is noted as one of the most challenging tasks for our players to overcome, particularly in defeating the Spina Queen.
Additionally, in this update, Triton Island, also referred to as Sand King Island, was offered for sale as 500,000 shares to users through the Entropia Exchange. In Q4 2023, Entropia Universe had two very popular recurring events; Halloween Mayhem and Merry Mayhem. In these, a new type of item, Cosmetic Token, was introduced, which users could hunt for, and which could be exchanged for visual items for their Avatars.
Furthermore, the system´s handling of “loot” was redesigned, solving the problem of high load delays and significantly improving the gaming experience. The forthcoming design aims to provide cohesive, upgraded functionality and performance, setting the stage for smoother future updates to meet the requirements of both the user community and MindArk.

In the technical development of the current game engine, adjustments have been made to handle modern tools, and work to update the visuals in Entropia Universe has begun, to ensure being future-proof. The new graphical elements are crafted to allow for easy transition to Unreal Engine 5, including the integration of an Unreal Engine 5 client with the existing server architecture. Initially, this client will operate alongside the current one within the same world, with a gradual shift planned to ensure complete compatibility with Entropia Universe.
This initiative also encompasses enhancements and updates aimed at boosting the scalability of Entropia Universe for managing a large number of simultaneous users. Finally, the implementation of AI tools to streamline work and thus reduce development time and improve service continues.

Nice!

 

[jwestonmoss]

That last paragraph actually says a lot if you read between the lines.