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2020-08-13

Annual Financial Results 2019/2020 : Atari delivers another financial year of profitable growth

ANNUAL FINANCIAL RESULTS 2019/2020
Press release - Paris, France - August 13, 2020 – 8:00 am


Atari delivers another financial year of profitable growth

  • Revenue:                                     +16.5% to €24.0m
  • Operating Income:                     +15.2% to €2.9m
  • Net Income (Group share):       €2.3m

                   

Launch of the Atari VCS and Atari Token in FY 2020/2021

             
During its meeting on August 11, 2020, Atari SA’s Board of Directors reviewed the financial information for the year ended March 31, 2020 and authorized its disclosure. The audit procedures on the consolidated accounts have been completed. The certification report will be issued once the management report and notes have been verified and all the necessary diligence measures required for the annual financial report have been finalized, which will be published by September 29, 2020 at the latest.



  • Revenue growth (+16.5%) despite launch delays at the end of the period (games, Atari VCS) due to the global health emergency
  • FY 2019-20 operational developments:
    • Atari Games: RCT Touch has crossed 30 million downloads as of March 31, 2020. This sustained performance is combined with good resilience for the licensing business. The hotel licenses ($600K received in January 2020) are spread over three years and contributed only $50K for the year.
    • Atari VCS: Finalization and production launch of the Atari VCS for a commercial launch moved to the end of 2020 (Covid-19 impact on the production).
    • Atari Casino: New crypto-casino license for $7.5m over the current period, demonstrating the recurring attractiveness of this space and of the Atari brand.
    • Atari Partners: New licensing agreement with Animoca Brands to develop blockchain applications in Atari games (December 2019). The Group owns Animoca Brands shares valued at over $2.0m. Launch of the Atari Token crypto-currency, which will contribute to results for FY 2020/21, as Atari is entitled to 35% of all token sale proceeds.
  • Other key developments:
    • April 2019: Secondary listing on the Nasdaq First North Premier Growth Market segment in Stockholm.
    • September 2019: Agreement signed with Legalist, with €0.9m paid to Atari Interactive in exchange for part of the future income to be received by Atari in connection with six trademark infringement proceedings.
    • New IFRS 16 accounting standard (restatement of lease liabilities): Recognition of a right of use for €2.5m (long-term asset) and a financial liability for €2.6m.
    • March 2020: €3.3m capital increase to accelerate the development of new games, in cooperation with development studios, and to support the launch of the Atari VCS.
  • The Atari Group is targeting continued profitable growth for FY 2020/21.

Frédéric Chesnais, Atari Group CEO and one of its leading shareholders: “The year ended March 31, 2020 was of course affected by Covid-19, with business progressing in line with expectations, but licensing agreement renewals and extensions deferred to subsequent periods. Our four business lines (Games, VCS, Casino, Partners) each have specific assets enabling them to develop in an environment that is continuing to be significantly marked by the considerable uncertainty surrounding the economic situation. In this context, our organization, with its low level of fixed costs, ensures that we are highly flexible and able to react quickly, which is expected to be a key factor to achieve our target of profitable growth”.

HISTORICAL FINANCIAL RESULTS – LONG-TERM STRATEGY

The table below summarizes the key figures of the Atari Group over the previous years (FY ended March 31):

 (€m)2012-132013-142014-152015-162016-172017-182018-192019-20
          
Revenue1.2 3.3 7.6 11.9 15.4 18.0 20.6 24.0 
Current Operating Income0.6 0.9 0.2 1.4 1.9 2.3 3.1 2.9 
Operating Income-2.0 1.3 1.5 0.0 8.5 2.5 2.5 2.9 
Net Income Group Share-35.8 -2.5 1.2 -0.1 7.7 2.3 2.7 2.3 
Shareholders’ Equity Group Share-34.9 -31.3 -13.1 -10.6 7.4 13.8 22.3 28.5 
Net Cash (Net Debt) (1)
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