Enad Global 7 presents new mid-term financial targets and strategic direction
At today's Capital Markets Day in Stockholm, Enad Global 7’s (EG7) Acting CEO Ji Ham and the Group Executive Management Team, will provide a detailed update on the Group's strategic direction and operations, as well as present new mid-term financial targets.
The Board of Directors in EG7 has decided on the following mid-term financial targets:
- Targeting Net Revenue of SEK 3 billion by 2026
- Targeting Adjusted EBITDA of SEK 1 billion by 2026
- CAGR of 16 precent for Net Revenue and 28 percent for EBITDA from 2023-2026
The financial targets assume no M&A nor external funding.
Together with new financial targets the Board of Directors are proposing a shareholder capital return program. That includes dividend and a stock buyback program, aiming to start the program in the beginning of 2024. The shareholder capital return program is subject to approval from Extra General Meeting of the shareholders to be scheduled for Q4.
"EG7 have now set the direction for its strategic journey going forward and what we expect to deliver. After a period of consolidation, the group is now in an ideal position with established structured processes with the aim to allocate resources to areas with the highest long-term return for all shareholders." says Ji Ham, acting CEO of EG7
The Capital Markets Day will take place today at at Filmstaden Sergel, Hötorget 3, 103 91 Stockholm, between 9:30am-12:00am CET, and the doors will be opened from 9:10. The presentations will be held in English, and it will be streamed live and made available on EG7's website.
Follow the Capital Markets Day virtually via the following link: https://www.enadglobal7.com/capital-markets-day-2023/
FOR MORE INFORMATION, PLEASE CONTACT:
Fredrik Rüdén, Deputy CEO and CFO
Phone: +46 733 117 262
Ludvig Andersson, Investor Relations Manager
Phone: +46 730 587 608
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs 470+ game developers and develops its own original IPs, as well as acts as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games, Toadman Studios and Big Blue Bubble. In addition, the group's marketing department Petrol has contributed to the release of 2,000+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution departments Fireshine Games hold expertise in both physical and digital publishing. EG7 is headquartered in Stockholm with approximately 630 employees in 16 offices worldwide.
Nasdaq First North Growth Market Ticker Symbol: EG7
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