billairboy
Elite
- Joined
- Mar 25, 2007
- Posts
- 3,131
- Location
- Örnsköldsvik, Sweden
- Avatar Name
- Bill Airboy Ivanhoe
The Mindark Annual report for 2018 is out I see, in Swedish:
https://www.mindark.se/investor-relations/financial-reports/documents/ARSREDO_MindArk2018.pdf
Looks like they have increased the revenue (deposits) and the profit. Cash have increased from 7,8M SEK to 13,6M SEK. The core business is improving and growing, the "extra projects" just cost a lot of money......
Google translate of some of their comments:
"
Analysis of the result for Entropia Universe
MindArk's results, as previously mentioned, plus SEK 2.9 million for the fiscal year 2018 ends. the company's aggregate results have been negatively affected by side projects. The company has wanted to expand partly by developing an app (ComPet Game) and partly by creating a marketplace for virtual objects (DeepToken). However, both these projects / products have only generated costs and no revenues during the financial year. In 2018, ComPet Game generated external costs of SEK 2 million, internal personnel costs of SEK 0.3 million and depreciation and write-downs of SEK 6.5 million. DeepToken has generated external costs of SEK 4.1 million and internal costs of SEK 1.4 million. Looking only at Entropia Universe and its revenues and expenses, you get an operating profit of SEK 20.4 million and a profit before tax of SEK 17.1 million, ie Entropia Universe is an extremely profitable product."
https://www.mindark.se/investor-relations/financial-reports/documents/ARSREDO_MindArk2018.pdf
Looks like they have increased the revenue (deposits) and the profit. Cash have increased from 7,8M SEK to 13,6M SEK. The core business is improving and growing, the "extra projects" just cost a lot of money......
Google translate of some of their comments:
"
Analysis of the result for Entropia Universe
MindArk's results, as previously mentioned, plus SEK 2.9 million for the fiscal year 2018 ends. the company's aggregate results have been negatively affected by side projects. The company has wanted to expand partly by developing an app (ComPet Game) and partly by creating a marketplace for virtual objects (DeepToken). However, both these projects / products have only generated costs and no revenues during the financial year. In 2018, ComPet Game generated external costs of SEK 2 million, internal personnel costs of SEK 0.3 million and depreciation and write-downs of SEK 6.5 million. DeepToken has generated external costs of SEK 4.1 million and internal costs of SEK 1.4 million. Looking only at Entropia Universe and its revenues and expenses, you get an operating profit of SEK 20.4 million and a profit before tax of SEK 17.1 million, ie Entropia Universe is an extremely profitable product."