Half-year report confirms continued growth and positive expectations for the year

Half-year report confirms continued growth and positive expectations for the year
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Astralis A/S has just issued the half year report for the first half of 2022. With a continued increase in revenue and a focus on costs in a period where the company has invested in new business areas, the period result confirms the company's ambitious plans and expectations for a positive operating result for the year.

Highlights from the half-year accounts 2021:

  • Total revenue for 1H 2022 was DKK 44.9 million. An increase of 14% compared to 1H 2021.
  • EBITDA in 1H 2022 was -0.9 million DKK. An improvement of DKK 2.8 million compared to 1H 2021.
  • Result for 1H 2022 was -6.3 million. An improvement of DKK 6.4 million compared to 1H 2021.

Astralis A/S maintains expectations for the annual result with an expected turnover of between DKK 85 and 90 million and an EBITDA between DKK 0 and +5 million.

Anders Hørsholt, CEO Astralis A/S

- The result for the period reaffirms our business plan and our expectations through continued growth and increased revenue streams across all our digital and physical business areas.

- On the team side, we have significantly improved the business, especially around our Counter-Strike team, which in the first six months has generated a positive EBITDA of DKK 5 million; an improvement of approx. DKK 10 million compared to the same period in 2021.

- At the same time, we have invested strategically in Pixel.tv to strengthen our digital production, presence and reach with the aim of embracing an even larger share of the rapidly growing audience within gaming and entertainment.

- The investment in our media business comes alongside a growth in the retail business in Astralis Nexus, which has started to show its potential within both B2C and B2B while we have also entered into new commercial partnership agreements, based solely on the activation of Astralis Nexus.

- Only three years after the company's establishment, today we employ more than 80 people in Denmark and in US, and I am incredibly proud of how our organization continues to deliver and develop our business.

- It is very satisfying that with the half-year result we can maintain our ambitious expectations for the year's result with a positive EBITDA of DKK 0-5 million, Anders Hørsholt concludes.