Astralis Group presents satisfactory 2020 result and expects significant growth
Astralis Group A/S has today published the company’s annual report for 2020, which shows an annual financial result within expectations and guidelines and a significant increase in EBITDA, which ended in DKK -14.5 Mil vs DKK -22.7 Mil. in 2019.
The revenue increased from DKK 48.6 Mil. in 2019 to DKK 51.5 Mil. in 2020, which is in the high end of the company’s guidelines of DKK 48-52 Mil.
Astralis Group CEO Anders Hørsholt describes the result as ”satisfactory” in a year marked by the pandemic.
- In a year where the effects of the COVID19 pandemic delayed our growth plans by 9-12 months, the annual result and the general development of our business is satisfactory.
- Simultaneously, with investing in key areas of the organization and business we have managed to increase the turnover and significantly improve our operating profit, which gives us an even stronger foundation for our business going forward.
Aggressive depreciation of valuable Rights
- An important growth area is income from league franchise rights and media rights. In 2020 we registered an over-performance in the growth and revenue from these rights, and an increasing industry interest for acquiring these scarce rights, which we see in all the leagues we participate in. Holding these franchise rights guarantees our teams’ participation in some of the most premium, international leagues and it is an important, growing revenue driver, which can be seen in our results already.
- LEC, BLAST, and Pro League, in which we own participation rights / franchise slots for our League of Legends and Counter-Strike teams, have all shown significant progress and sustainability regarding funds distributed to the teams, the interest from new teams in buying into the leagues, and the transactions of rights that have already taken place for amounts far above original value. On this basis, we believe that our three franchise slots and participation rights are significantly underrepresented in our accounts.
Growing optimism and expectations
- In the context of a global crisis and unprecedented challenges, I am extremely proud of what has been accomplished by our organization and the current development of our business, digitally and physically.
- Like everybody else, I look forward to a re-opening of our communities, to live events coming back, being able to meet and interact with the fans and to the opening of our new, unique two-story facilities in central Copenhagen this summer. We have entered 2021 with optimism and over the coming months, we look forward to presenting a lot of what we have been working on, says Hørsholt.
The financial targets for Astralis Group for the financial year ending 31 December 2021 are in the range between DKK 70 million – DKK 80 million, which is an increase of 35-55 pct., and an EBITDA in the range between DKK -5 million and DKK -10 million.