Nida Harb 3 helps drive Stillfront revenue up 46% to $50m in Q2

Earnings before tax more than double to $13.3m

Nida Harb 3 helps drive Stillfront revenue up 46% to $50m in Q2

Revenue at the Stillfront Group increased by 46 per cent year-on-year to SEK 480 million ($50m) in Q2 2019.

Earnings before interest and tax more than doubled to SEK 128m ($13.3m), compared to the SEK 63m ($6.5m) it reported in the same period the year prior.

User acquisition costs meanwhile amounted to SEK 99m ($10.3m), around 21 per cent of total revenue.

The Stillfront Group includes companies such as Goodgame Studios, Kixeye, Imperia Online and Babil Games.

The latter publisher's strategy game Nida Harb 3 was highlighted as a particular success story for the group, becoming the company’s best performing title in its portfolio.

Growth drivers

“We continue to report strong results, recording 46 per cent revenue growth and further expanded the adjusted operating margin to 32 per cent in the second quarter,” said Stillfront Group CEO Jörgen Larsson.

“All three active product areas, Empire, Big and Core, delivered a third quarter of sequential growth. The Core products recorded an exceptionally strong quarter with Nida Harb 3 continuing its impressive growth trajectory and becoming the single largest product in our portfolio. User acquisition costs amounted to SEK 99m ($10.3m) or 21 per cent in relation to net revenue.

“One important growth driver is our well-executed live operations with new content and successful in-game events in many of the games, which generated improved monetisation and high margins.

“In the quarter we finalised the acquisition of Kixeye, an industry leader and strategy game pioneer. We have also strengthened our financial position with new debt financing and a successfully directed share issue, supporting us for further growth. Finally, we are also very pleased to report that we have reached our long-term EBIT target of >30 per cent LTM.”

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Craig Chapple is a freelance analyst, consultant and writer with specialist knowledge of the games industry. He has previously served as Senior Editor at, as well as holding roles at Sensor Tower, Nintendo and Develop.