MY.GAMES REVENUES RISE 10% YEAR ON YEAR AND EBITDA MORE THAN DOUBLES A YEAR AHEAD OF FORECAST
Today, MY.GAMES, the global publisher and developer of video games, announced its 2021 results. Revenues grew by 10.5% YoY in 2021 to RUB 43.8bn ($595m). EBITDA has more than doubled versus 2018 level of RUB5bn a year ahead of guidance, reaching RUB10.4bn already in 2021 instead of 2022. EBITDA margin stood at 23.7% for the year, a significant improvement compared to 16.4% in 2020 and in line with the MY.GAMES’ target of low to mid-20% through-the-cycle margin level articulated back in 2018.
Vasily Maguryan, CEO MY.GAMES, commented:
“2021 brought a number of challenges to the global games market, with product launches being postponed due to the pandemic and supply shortages along with changes in the IDFA policy affecting the mobile segment. But we managed to successfully tackle them as demonstrated by our financial results. MY.GAMES delivered on its promises with RUB 10.4bn in EBITDA generated in 2021, having more than doubled EBITDA versus the 2018 level (RUB 5.0bn) a year ahead of guidance. We will continue to focus our strategy on diversifying our portfolio and investing in the development of products across segments: PC, console, and mobile. We will also continue experimenting with new niches and genres and developing cross-platform products to accommodate wider audiences, with an ambition to deliver further market share gains.”
Mobile games accounted for 74% of MY.GAMES' revenue in 2021, with War Robots, Hustle Castle, Rush Royale, Grand Hotel Mania and Left to Survive in the top 5 in MY.GAMES' portfolio by revenue. Rush Royale has become the top-2 game in MY.GAMES' portfolio for the Q4 2021, and the number one game in the data.ai (ex AppAnnie) ranking for revenue among projects in the Tower Defense Strategy genre.
MY.GAMES Venture Capital, the investment division of MY.GAMES, invested in 12 gaming studios and made 2 consolidations (Mamboo Games and Playkey) in 2021. In total, MGVC currently has more than 50 studios in its portfolio and is in the top 15 strategic investors in the gaming industry.
Further highlights for Q4 include:
Q4 saw 5.1% YoY growth in Q4 (to RUB 11.6bn) with 67% of Q4 revenues coming from mobile games (versus 76% in Q4 2020 - due to the market not fully adapting to the implementation of IDFA).
Average MAU rose by 5.2% QoQ to 22.1mn in Q4, with hyper-casual players of Mamboo Games being the key driver, while the share of monthly paying users was stable at 4.31%.
In Q4 2021, MY.GAMES EBITDA grew 150.3% to RUB 3.8bn, with a margin of 32.8%.