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Astralis continues growth and secure first positive EBITDA

Today, the board of Astralis A/S approved the annual report for 2022 covering the statutory period 1 January 2022 – 31 December 2022.

Summary:

- The net revenue increased to DKK 87.5 million in 2022 from DKK 75.0 million in 2021. This was within the financial guidance given in corporate announcement no. 2-2022 of DKK 85-90 million.

- The EBITDA of DKK 2.6 million in 2022 improved from the 2021 EBITDA of DKK -7.9 million. This was in line with the financial guidance of DKK 0 to 5 million.

- The result was DKK -9.7 million where the depreciation of the purchase price related to the 2019 acquisition of the teams represents DKK -7.2 million.

‍Guidance for 2023

The financial targets for Astralis for the financial year ending 31 December 2023 is a net revenue in the range between DKK 85 million – DKK 90 million, which is in line with 2022, and an EBITDA in the range DKK 0-5 million.

‍Very satisfactory result – positive outlook

Anders Hørsholt, CEO Astralis A/S:

- In 2022 we consolidated our business around our strongest growth areas, and in a year with challenging circumstances in an ever-changing market, high inflation, supply disruptions, a war in Europe and a restructuring of our performance organization around our teams, the positive development of our business and meeting our ambitious financial targets is very satisfactory.

- The results confirm our strategy to build a strong business around our esports activities, digitally and physically, and they confirm that we can meet expectations to growth, also in periods with mixed results for our teams and focus on a modernization of our performance organization.

- We see a continued growth in our revenue streams and despite investment in players and the performance organization, we have managed to maintain the level of costs. That is, of course, very positive and a result of the great work of a dedicated, professional organization.

- The challenges in the market continues, however, with a stronger Counter-Strike set-up and team, new digital initiatives and continued growth in our retail leg, we are in a good position, and we expect to repeat the positive EBITDA of 2022 in 2023.

- I want to thank everybody in our organization for their tireless work and contribution to the continuous positive development of our business, which we can all be proud of. We have great expectations for the coming year – on and off the server, Hørsholt concludes.

You can read the full Annual Report here.