Goodgame Studios reports significant growth in revenue and profit in 2014
Hamburg,
- Revenue nearly doubled to EUR 202.09 mn in 2014 compared to EUR 102.62 mn in 2013. Year Over Year revenues increased by 97 percent.
- EBITDA more than doubled to EUR 34.79 mn in 2014 compared to EUR 13.38 mn in 2013.
- Workforce increased from approximately 600 to 1200 employees; the company aims to hire 400 new employees to reach 1600 in 2015.
- Focus on product innovation and international expansion in 2015.
Goodgame Studios, Germany’s leading game software developer and publisher, has published its annual financial figures for 2014 today. According to the report, the company, which operates under the legal name of Stillfront Germany GmbH, generated 202.09 million euros in revenue in 2014. In comparison with the 2013 revenue of 102.62 million euros, Goodgame Studios nearly doubled its revenue during 2014 by 97 percent.
Earnings before interest, taxes, and depreciation and amortization (EBITDA) also showed a very successful development. At 34.79 million euros, earnings were 160 percent higher than the total of 13.38 million euros in 2013. The EBITDA margin also increased accordingly by 4 percentage points to 17 percent during this time.
The ongoing development of Goodgame Studios’ already successful titles have contributed significantly to the company’s positive balance sheet. The mobile app Empire: Four Kingdoms, for example, is the world’s highest grossing app by a German company. Goodgame Studios’ continued focus on strategic marketing methods has had a huge influence on the positive growth of revenue and earnings. This is also reflected by the ever-increasing number of registered players, which rose from 170 to 245 million in 2014.
“The fact that our revenue and earnings are developing so positively demonstrate that our business model enables sustainable growth. In the development and marketing of our games, we pursue a data-based approach which allows for constant optimization and scalable operational processes,” commented Dr. Kai Wawrzinek, CEO and Managing Director, Goodgame Studios.
Alongside Goodgame Studios’ economic development, the company’s workforce increased from 609 to 1168 employees in 2014. “Our steady growth of our talent pool is an essential ingredient for our success, and we intend to continue following this path. We are convinced that adding the right talent to our organization is fundamental to achieving higher growth and revenue. This enables us to create an environment which fosters the long-term success of our company,” explained Dr. Christian Wawrzinek, COO and Managing Director, Goodgame Studios.
Priorities 2015
Goodgame Studios aims to further strengthen its product portfolio in 2015, focussing especially on products for mobile platforms such as puzzler as well as on further advancing their successful strategy segment. The company has set up new inhouse production studios which are each specialised in a specific game genre. This internal structure will allow the company to develop and publish new successful titles more quickly and efficiently. Goodgame Studios is also developing sophisticated core gaming projects for various platforms, which are due to be released in the mid-term future. Investments planned for 2015 will be made from the cash flow generated by the company
“As per our strategic and long term goals, we want to offer the most comprehensive product portfolio to our users which will cater to a wide variety of gamer preferences across the globe. At the same time, we’re going to remain true to our disruptive free-to-play principle and continue to perfect it. We believe that free-to-play games have by far the largest market potential in the rapidly changing gaming industry,” said Dr. Kai Wawrzinek, CEO and Managing Director, Goodgame Studios.
The company’s plans for growth also include expanding its global user base as well as further increasing its workforce. Part of the internationalisation strategy is to develop investments and focus on intensifying the global rollouts of new and existing games. The company has set its sights on the Asian market in particular. Goodgame Studios further intends to hire 400 new employees in 2015 to achieve a total of 1600 staff members.
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