Enad Global 7 Revenues Are Up 193% YoY Following Daybreak Acquisition In 2020
Enad Global 7 saw its best quarter to date and a significant boost to its revenue over the last twelve months following its acquisition of Daybreak Games towards the end of 2020. The Swedish video game holding company’s Q4 2021 financial report shows a net quarterly revenue of SEK 573 million, or roughly USD 60 million. This translates to a whopping 193% increase year-over-year and a 40% increase compared to last quarter.
As you all know, Daybreak owns Lord of the Rings Online, which collectively ed for 75% of the revenue generated by EG7’s gaming arm and 30% of the company’s total revenue for the quarter.
Lord of the Rings Online, in particular, saw a huge increase in revenue and popularity thanks to Amazon’s The Lord of the Rings: The Rings of Power television series. Daybreak also announced that they will be taking over publishing rights for Magic: The Gathering Online ahead of the holidays, a move that EG7 expects will lead to further growth in 2022.
“Daybreak currently operates 8 live titles. For Q4 2021, Daybreak contributed net revenues and adjusted EBITDA of SEK 172.4 million and SEK 51.4 million, respectively. Daybreak provided the largest contribution amongst the group companies with a net revenue contribution of 30 percent and adjusted EBITDA contribution of 43 percent for the period. With the addition of Magic: The Gathering Online to its portfolio, Daybreak will demonstrate further growth in 2022.”
EG7 also teased new products related to the EverQuest, H1Z1, and PlanetSide IPs and made a ing reference to the Marvel MMORPG which was announced in November last year.
Incidentally, EG7 also owns Russian video game publisher Innova and offered a brief comment on the current situation between Russia and Ukraine. “It is too early to judge how the recent development between Russia and Ukraine may impact our business,” said EG7. “Net revenue and adjusted EBITDA contribution from our Russian entity Innova in the fourth quarter amounted to SEK 74.1 million and SEK 26.4 million, representing 13 percent and 22 percent of the group total.”
You can check out EG7’s full Q4 Investor Presentation on the company’s official site.
