MindArk Interim Report Q1 2024

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Link to press release from MindArk:
https://spotlightstockmarket.com/sv/market-overview/nyheter//nyhets-artikel?id=103865

Link to actual report in pdf:
https://www.mindark.se/investor-rel...ments/2024/MindArk-Interim-Report-Q1-2024.pdf

Copy paste of press release from first link above:

Press release from Companies
Publicerat: 2024-05-15 08:00:00

Mindark PE Aktiebolag: MindArk Interim Report Q1 2024​



MindArk PE AB (publ) ("MindArk", the "Company") hereby announces that the Company's interim report for Q1 2024 has been published.
Comment from Acting CEO, Leif Evander Andersson:
"Our financial results for the last quarter—both turnover and operating profit—did not match the figures from the same period last year. However, this discrepancy primarily stems from the first quarter of 2023 being exceptionally strong due to the launch of our 20th anniversary event, TWEN.
In early 2024, MindArk has focused on advancing AI integration across the organization. This initiative is already enhancing our operational efficiency, accelerating development, and improving gaming experiences. Additionally, our AI-driven approach to data management is paving the way for more informed strategic decisions."
Reporting period
The report covers the period January 1 – March 31, 2024 (“Q1”).
January 1 – March 31, 2024
Group figures. Comparative figures in parentheses refer to the same period last year.
  • Turnover amounted to 20.7 MSEK (26.5 MSEK)
  • Work in progress amounted to 5 MSEK (7.7 MSEK)
  • Operating profit amounted to 1.1 MSEK (4.2 MSEK)
  • Profit before tax amounted to 88 TSEK (4.5 MSEK)
  • Cash & cash equivalents including short-term investments 38.3 MSEK
  • No interest-bearing liabilities
  • Provision for unspent user funds 35.6 MSEK
  • Earnings per share for the period amounted to -0.07 SEK (0.11 SEK)
Significant events during Q1
Henrik Nel Jerkrot steps down as CEO in March 2024 after six years in the position. Leif Evander Andersson, who has been a member of the Board since May 2023, takes over as acting CEO.
Significant events after the end of the reporting period
In April 2024, MindArk terminated the agreement with Pareto Securities AB, the liquidity provider for MindArk’s shares. MindArk’s Board of Directors concludes that the service is no longer necessary.
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
Interim report Q2, 2024 August 28, 2024
Interim report Q3, 2024 October 25, 2024

This disclosure contains information that Mindark PE AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-05-2024 08:00 CET.
For more information, please contact:
Gunilla Krogh
CFO, MindArk PE AB (publ)
gunkro@mindark.com
Tel: +46 31 607 260
MindArk PE AB (publ)
Org. nr. 556640-4769
Masthamnsgatan 5
413 29 Gothenburg
www.mindark.com

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I always dive in to find some Unreal Engine 5 news but seems pretty light this time :(
 
pretty significant drop, but i'm betting resource mayhem will crunch a lot of ped through the system
 
Tried to find some interesting news about the road ahead for Entropia or UE5, but unfortunately just seemed as some word salad this time. At least on the technical stuff.
 
Tried to find some interesting news about the road ahead for Entropia or UE5, but unfortunately just seemed as some word salad this time. At least on the technical stuff.
Only interesting thing being they are moving to the next stage of development soon....whatever that means. Would be nice if they could give us a proper community update saying what's been acheived and what the next stage actually is.
 
pretty significant drop, but i'm betting resource mayhem will crunch a lot of ped through the system
There is a large impact on USD exchange rate
player money inflow is rising 2.5m PED or so...
as long as "player un consumed holding" rises it means all is ok
TWEN took an insane amount of fresh ped inflow to buy tokens for weapons
it it 100% normal that afer such "binge depositing" there is a slowdown

I was considering that autocrat could damage economy, so far seems that
i was wrong, and until mid june event will command more decay in craft.
we should have a strong q2 with a 20...40% increase in cycled ped
 
I was considering that autocrat could damage economy, so far seems that
i was wrong, and until mid june event will command more decay in craft.

The auto-craft was disabled until patch 18.2.1 on Tuesday, so it’s too early to see any impact from that.
 
After re-organisation they have dropped a lot of staff, unfortunatly this will obviously impact the UE5 development.
 
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Do you think they will keep the deadline at 2025 Q1?

Seriously doubt it, somehow they were caught off guard by the fact that turnover will decrease when twen event is over, and were forced to cut a substantial amount of employees. I think we can expect at least one year delay if not more.
 
I dread the day they "maybe" upg to UE5.

Gonna be boring few years while waiting them to get it working right.

🤞🤣🤞
 
Seriously doubt it, somehow they were caught off guard by the fact that turnover will decrease when twen event is over, and were forced to cut a substantial amount of employees. I think we can expect at least one year delay if not more.
What if it isn't a delay, what if it doesn't make it to launch. The only thing that makes players not want to play, is this dog crap loot patch. It needs to be reversed back to the 2008 loot patch rofl. Every single player on my friends list complained about loot. literally nothing else just loot, is what they had an issue with.
 
UE5 will be released only when it will be obsolete engine :) so they can make announcment of UE10 :ROFLMAO::ROFLMAO::ROFLMAO:
 
Times are changing when the game was released ppl were spending thousands of $ and having fun with it because the game was unique an dthere were no alternatives. So many years later there are less and less ppl willing to spend that kind of cash on a single games and some if not most don't see returns on their investment. Not to mention the fact that mmo scene is now flooded with games some of which will offer cash economies aswel. If Ma wants to keep their customers they need to revise their game.While new graphics are step in the right direction a better looking slot machine is still a slot machine so doing only graphics won't work !
 
Times are changing when the game was released ppl were spending thousands of $ and having fun with it because the game was unique an dthere were no alternatives. So many years later there are less and less ppl willing to spend that kind of cash on a single games and some if not most don't see returns on their investment. Not to mention the fact that mmo scene is now flooded with games some of which will offer cash economies aswel. If Ma wants to keep their customers they need to revise their game.While new graphics are step in the right direction a better looking slot machine is still a slot machine so doing only graphics won't work !
i think there are some ways they can enhance and diversify the experience. just some fun ideas

  • A collectibles system
    • rare "collectibles" that drop all over the universe, some that are universal, some that are planet-specific. these collectibles can be traded or auctioned.
    • once a collection is completed (think like a stamp book that is filled out) it unlocks a one-time reward which could be a real-life item.
      • tabtab plushie
      • various types of usable EU swag
      • a replica item from the game (this has been done by Destiny and others)
  • reform the shares/deeds system to allow a voting system, the way you have voting on board decisions when you own real life shares, except not legally that way, more like a poll or survey.
    • aka, the custodian of the digital property for which there are shares, can release a survey in the exchange system and people can vote on what option they prefer (ideally "which of these changes would you like to see most" type questions)
    • the more shares you have the more your vote counts
    • obviously this is non-binding but it gives the dev teams community feedback and can help inform their decisions anyway
  • more missions, including dynamic ones for every profession, think "radiant system" from the elder scrolls games. this would help structure the system a lot more for people who prefer that structure and feeling of progression
 
We can sugest but they wont change anything and we can wonder why. Fact is most people don't know how to fix game economies without making it worse. Untill they have steady income they won't change anything if they loose the playerbase they might wonder how to try to fix it but then it could be too late !
 
The biggest thing for improving the economy would be lowering auction fees. With a vast majority of the loot at 101 and 102% MU the fees on auction are rather too high. Improving the liquidity of players probably means more profit anyway as it allows faster re-cycling of ped. The game just needs a bit more big picture than worrying about .55 - .65 pec fees which hurt the liquidity of everyone. Not saying there should be no fees, but I think the fees are at least 50% too high.
 
Also pills and any item which can be traded for ped need to be actionable. High fees and non-auctionable items simply drive a lot of ped from actively playing players to non-playing resellers.
 
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