ASMODEE (fully consolidated)
■ Continued robust organic growth and an ongoing international acquisitions policy
In 2016, Asmodee posted revenue of €377.2 million, up +39.5% on a reported basis compared to the previous year, and solid organic growth of +18.5% at constant scope and exchange rates.
This growth was spurred by all product lines and regions: international activities now represent 75% of Group revenue, particularly in the US and the UK. The year was marked by a particularly robust performance in the cards segment, driven by Pokémon which benefited from favorable trends in all the Group’s European countries.
The Group's EBITDA totaled €65.2 million, resulting in a 17.3% margin. EBITDA increased by +57.5% on a reported basis and +23.7% at constant scope and exchange rates.
Asmodee is also pursuing its strategic initiatives: enhancement of its editorial contents in all regions and on all media, ramp-up in new regions, primarily the US, and creation of its digital platform offering.
Pro forma of the external growth transactions carried out at the end of 2016 (F2Z, Heidelberger, Millenium and Edge), revenue in 2016 totaled €402 million and EBITDA amounted to €78.1 million, i.e. a +19.4% margin.
Net financial debt totaled €223.6 million following the June 2016 refinancing and the acquisitions at the end of 2016, i.e. a leverage now lower than 3.0x EBITDA.
■ Continued robust organic growth and an ongoing international acquisitions policy
In 2016, Asmodee posted revenue of €377.2 million, up +39.5% on a reported basis compared to the previous year, and solid organic growth of +18.5% at constant scope and exchange rates.
This growth was spurred by all product lines and regions: international activities now represent 75% of Group revenue, particularly in the US and the UK. The year was marked by a particularly robust performance in the cards segment, driven by Pokémon which benefited from favorable trends in all the Group’s European countries.
The Group's EBITDA totaled €65.2 million, resulting in a 17.3% margin. EBITDA increased by +57.5% on a reported basis and +23.7% at constant scope and exchange rates.
Asmodee is also pursuing its strategic initiatives: enhancement of its editorial contents in all regions and on all media, ramp-up in new regions, primarily the US, and creation of its digital platform offering.
Pro forma of the external growth transactions carried out at the end of 2016 (F2Z, Heidelberger, Millenium and Edge), revenue in 2016 totaled €402 million and EBITDA amounted to €78.1 million, i.e. a +19.4% margin.
Net financial debt totaled €223.6 million following the June 2016 refinancing and the acquisitions at the end of 2016, i.e. a leverage now lower than 3.0x EBITDA.
Eurazeo is a shareholder in 34 companies. (HT: Sebastian Wenzel)
• To follow up on this April 2017 post about Catan Days 2017, Asmodee North America has announced that "due to an unforeseen circumstance" Catan Days has been postponed, with a new date still to be announced at a later date.
2016 was a challenging time for many of us in the office. It was our second year in decline, with gross income just over $6 million. Additionally, this was the first year in over a decade that we showed a loss. Our insistence on perfection resulted in our two biggest planned releases — the Munchkin Collectible Card Game and Car Wars Sixth Edition— being pushed back (keep reading for more information on both of these games). That meant our time invested in both games did not benefit the bottom line in 2016, and that led to lower than expected revenue. Fortunately, our management team saw early enough in the year that these games would miss 2016 that we kept our cash flow stable and avoided potential cash crunches. Our cash flow report — first mentioned by Steve in the 2010 report — continues to protect us from unexpected harm.
• On March 31, 2017, Identity Games managing director Erik Spindler transferred his shares of the company to new owners. To quote from the press release: "With a number of global titles like Escape Room: The Game, Poopyhead and the original Mouthguard Challenge, this is a good time for Spindler to take on a new challenge. Founder and managing partner Albert Meuter and managing director USA Emile Kalis, as well the new shareholders"— Jeroen Nugteren (General Manager International) and Jan-Maurits Duparc (Chief Creation) — "are now the new management. Jelle Marcus is the new manager for tailor made games."
• Want to watch players compete in tabletop games for money? Oomba hopes so, Oomba being "a specialized social media company that is creating an interactive social network for tournaments, leagues and teams".
The specific event that Oomba has created is the Unrivaled Tournament Series, which features six games — Munchkin, Ascension, King of Tokyo, Nevermore, Villagers & Villains, and Epic Spell Wars of the Battle Wizards: Rumble at Castle Tentakill— for which 284 retail stores will hold satellite tournaments through June 2017, ahead of regional tournaments from July through September and the finals in October 2017 in Las Vegas. Oomba promises $250,000 in cash and prizes for those who make the grand final, with sanctioned satellite venues receiving payouts matching those of their players, thereby giving them an incentive to host in the first place (beyond, of course, simply encouraging people to come to their store).
An excerpt from a Forbes article about Oomba and the Unrivaled tournament series:
"Unrivaled is a celebration of social aspects of tabletop gaming," says [Oomba CEO Michael] Williams. The company and its partners are betting that the excitement generated by the tournament gets more people into the world of tabletop games, and generates greater outside attention to the marketing, sponsorship and engagement opportunities for organized play. If their strategy pays off, it may open a whole new field of play for the esports model and a new point of engagement for the fan economy that has taken over popular culture.
