On this episode of Attack of the Fiscal Dockets!
Enad Global 7 released their annual report for 2020 and the results are pretty much what you’d expect. The company posted a substantial loss for 2020, but that’s what happens when your company makes numerous high value acquisitions. Their revenue stream also grew exponentially, and presumably the goal is that the second helps the first in the long term.
2020 saw the acquisition of Daybreak Game Company as well as Piranha Games and Big Blue Bubble. Shockingly Daybreak Game Company has three hundred employees and what EG7 referred to as the “best in class” first and third party IPs. Notably H1Z1 did not make that list of best in class properties, but EG7 does note that the team strength does give way for future acquisitions.
The acquisition of Big Blue Bubble ran 16 million CAD with an extra 15.9 million due over the next two years. Daybreak meanwhile cost a cool $300 million to get their paws on. Net revenue in 2020 amounted to 569.8 million SEK (roughly $68 million USD) compared to 151.6 million in 2019 and 73 million in 2017/2018. Profit however resolved to negative 145.7 million SEK, again due to those massive investments compared to -28.1 million in 2019 and 6.4 million in 2017/2018. To give a better understanding on growth potential, EG7’s total assets went from 711 million to 4.5 billion SEK. That’s a lot of that currency.
EG7 even posted a list of top shareholders which, unlike the Daybreak Studios of the past, is presumably honest and does not include any Russian criminal oligarchs. Isn’t having a more open and honest owner of Daybreak after all these years refreshing?
Source: EG7
MMO Fallout 