Press Releases
Group’s annual report 2009 slightly over preliminary figures - New record revenues in March 2010
Dynamic growth expected for 2010 and 2011
Frogster Interactive Pictures AG, international publisher of massively multiplayer online games with headquarters in Berlin and subsidiaries in Berlin, San Francisco and Seoul, was able to grow its revenue by factor six in 2009 to 14.7m Euro (previous year: 2.3m Euro) and has gained another 1.3m Euro in other revenues (previous year: 0.8m Euro). In doing so, Frogster has achieved a net profit of 2.3m Euro or 0.96 Euro per share and with this, a net profit margin of 16 per cent. After minority interests of third party shareholders of group companies, the net profit comes to 2.1m Euro or 0.85 Euro per share. These figures are slightly above the temporary figures published in February.
Also the most important balance sheet items could be improved further. Cash has risen significantly in 2009 and amounted to 2.6m Euro at year-end. The equity amounts to 11.1m Euro. The equity-ratio amounts to 75 per cent. Liabilities with financial institutions do not exist. According to the management’s estimate, the stakes in the subsidiaries Frogster Online Gaming GmbH (Frogster Europe) and Frogster America Inc. as well as the license of the main cash-cow ‘Runes of Magic’ all being part of the company’s fixed assets, contain hidden reserves in a considerable extent.
The annual report will be published on the companies’ website in the last week of April.
High growth dynamics also in 2010
In March, with over 1.6m Euro, Frogster documented a record in the ongoing month revenues with its main cash-cow ‘Runes of Magic’ and with this, outperformed the previous record of November 2009. Furthermore, in March, new records could be achieved in ‘Runes of Magic’ with regards to the number of registered users, paying users (over the last three months) and peak concurrent users. The Frogster Group’s total month revenue was at just under 2m Euro in March and with this, close to the previous record level of December 2009 in which, besides the ongoing revenues from the sale of virtual goods and services within the free-to-play MMO games, there were however also recorded one-off revenues from sales of sublicenses and development services in Korea. In March, compared to the month before, an especially strong growth of over 50 per cent could be documented by the Frogster Group in the USA. The goal here is to also reach the seven digit level in USD on a monthly basis by year-end. The Frogster Group has transferred cumulated over 5m Euro in the first quarter.
Strong profitable expansion continues
Against the background of this positive development and the currently also significantly rising revenues in the MMO game ‘Bounty Bay Online’, the management is rating the previous revenue goal of 25m Euro for 2010 as conservative. From May 2010 onwards, Frogster expects a revenue boost from the market launch of the second expansion of ‘Runes of Magic’, ‘Runes of Magic – The Elder Kindoms’, from the significant reduction of the file size of the software client to be downloaded by the players and from the enabling of impulse purchases “live” during the gaming session. Facing the successful establishment of the main cash-cow ‘Runes of Magic’ in important regions worldwide and the fact that comparable MMO games show their revenue peak only after three to five years, Frogster is very confident to be able to continue its strong profitable expansion in the mid-term.
