Outcomes of the primary half of 2020-2021
Press Launch – Paris, France – February 15, 2021 at 9h00 pm
Development of the sport enterprise over the interval, however licensing exercise impacted by Covid-19
With a really profitable launch on the finish of 2020, the Atari VCS may have a constructive contribution within the second half of the 2020-2021 monetary 12 months
The Atari blockchain eco-system is beginning on a strong basis
Atari is anticipating a constructive outcome for 2020-2021
The primary half of the monetary 12 months 2020-2021 ended on September 30, 2020 and the provisional outcomes have been reviewed by the Board of Administrators on February 12, 2021. The audit evaluation of the consolidated monetary statements is being finalized.
Highlights of the primary half of 2020-2021 (April 1, 2020 to September 30, 2020) :
- Development within the recreation enterprise
- Licensing actions impacted by Covid-19
- First deliveries and anticipated income from the Atari VCS have been delayed to the second half of 2020-2021 due to the worldwide pandemic
- April 2020 : Official launch of the Atari blockchain mission and first personal gross sales of the Atari Token
- July 2020 : Distribution agreements for the Atari VCS with Bluemouth, an Australian distributor, and receipt of first orders for this territory
- August 2020 : Distribution agreements for the Atari VCS with Microcenter, a US distributor, and receipt of first orders from this buyer (VCS is already distributed by Gamestop, Walmart.com and within the technique of being listed at Finest Purchase)
Highlights of the second half of 2020-2021 (October 1, 2020 to March 30, 2021) :
- Atari Video games : Gradual launch of cell video games Beat Legend and Atari Fight
- Atari VCS : First deliveries made in December 2020, with a gradual ramp-up over the 2021 calendar 12 months. Largely constructive preliminary buyer suggestions.
- Atari Companions / Atari Token : Public sale and profitable itemizing of the Atari Token – Launch of the primary digital worlds with the Sandbox, Decentraland – Fast improve in visibility of the Atari Token – Preliminary assessments of the Atari On line casino on the blockchain – First gross sales of non-fungible tokens with WAX
- December 2020 : Capital improve of 5.81 million euros by means of a non-public placement
- February 2021 : Sale of 14,345,000 Animoca shares for roughly US$1.2 million. The Group is within the technique of promoting the remaining 9,580,000 Animoca shares within the calendar 12 months 2021.
Outcomes of the primary half 2020-2021
|IFRS, in M€||2020/2021
(April – Sept.)
(April – Sept.)
|Income in hundreds of thousands of euros||7.8||10.7||-26.96%|
|Value of gross sales||(1.5)||(1.3)|
|GROSS PROFIT MARGIN||6.3||9.4||-32.9%|
|% of turnover||80.6%||87.7%|
|Analysis and growth prices||(4.0)||(4.6)|
|Advertising and business bills||(1.5)||(2.0)|
|Normal and administrative bills||(2.0)||(2.1)|
|Different earnings and working bills||0.0||–|
|CURRENT OPERATING INCOME||(1.2)||0.7||-264%|
|Different working earnings and bills||–||(0.0)|
|Share of web operational revenue of fairness associates||0,0|
|Value of economic debt||(0.1)||(0.0)|
|Different monetary earnings and bills||(0.3)||(0.5)|
|NET RESULT OF THE CONSOLIDATED ENTITIES||(1.5)||0.1|
|Share attributable to the Group||(1.4)||0.1|
|Share attributable to minority pursuits||(0.1)||(0.0)|
The technique of the Atari Group goals on the growth of the sport catalogue with a robust specialization on cell platforms and simulation / technique video games (“Atari Video games”) and on real-money video games (“Atari On line casino”), the event of the Atari VCS (“Atari VCS”) and of associated initiatives notably within the blockchain area (“Atari Companions”).
For the primary half ended September 30, 2020 (April 1 to September 30, 2020), the Atari Group recorded income of seven.8 M€, in comparison with 10.7 M€ for a similar half of the earlier monetary 12 months. The expansion within the video games exercise is overshadowed by the decline within the licensing enterprise and by the delay of the launch of the Atari VCS to the second half of the monetary 12 months, each actions having been confronted with logistical points (sourcing and transportation) brought on by the COVID 19 disaster.
The Atari VCS isn’t contributing to the outcomes of the primary half for the reason that deliveries of machines began after September 30, 2020. Following the launch in December 2020, the client suggestions up to now is overwhelmingly constructive.
The exercise associated to the Atari Token has began throughout this era and generated 0.3M€ as income and 0.2M€ as deferred income. The constructive reception of the Atari Token by the customers, the fast growth of use circumstances (see atarichain.com) and the evolution of the worth of the Atari Token on the exchanges attest to the very profitable begin and to the expansion potential of this exercise.
The gross margin degree stands at 80.6% of turnover in the course of the interval in comparison with 87.7% for the earlier interval.
The principle expense gadgets are according to the expectations of the Group and mirror the efforts made to spend money on its 4 enterprise strains. The R&D bills nonetheless cowl investments within the Atari and RollerCoaster Tycoon franchises, with a robust specialization on cell platforms and simulation / technique video games. Advertising and promoting bills amounted to 1.5 M€ for the primary half of the 2020-2021 monetary 12 months, primarily supporting the video games exercise over the interval. Normal and administrative bills amounted to 2.0 M€ and remained steady in comparison with the earlier interval.Thus, the Group generated a present working results of -1.1 M€ in the course of the first half of 2020-2021, in comparison with +0.7 M€ within the first half of 2019-2020.
Different monetary earnings and bills are primarily associated to a good worth adjustment of the Animoca shares, leading to a web earnings of the consolidated entities of -1.5M€.
Steadiness Sheet as at September 30, 2020
|ASSETS (in hundreds of thousands of euros)||30.09.2020||31.03.2020|
|Property, plant and gear||0.0||0.0|
|Proper of use property associated to leasing contracts||2.0||2.3|
|Non-current monetary property||13.6||15.7|
|Deferred tax property||2.0||2.1|
|Present tax property||0.0||0.0|
|Different present property||0.9||0.7|
|Money and money equivalents||1.2||1.8|
|Property held on the market||1.7||–|
|EQUITY & LIABILITIES (in hundreds of thousands of euros)||30.09.2020||31.03.2020|
|Internet earnings Group share||(1.4)||2.3|
|SHAREHOLDERS’ EQUITY GROUP SHARE||26.9||28.5|
|SHAREHOLDERS’ EQUITY OF CONSOLIDATED ENTITIES||26.8||28.1|
|Provisions for non-current contingencies and losses||0.1||0.0|
|Non-current monetary liabilities||–||0.9|
|Deferred tax liabilities||1.8||2.1|
|Different non-current liabilities||0.7||0.8|
|Provisions for present contingencies and losses||–||0.1|
|Present monetary liabilities||1.2||0.6|
|Present lease liabilities||0.3||0.3|
|Present tax liabilities||–||0.0|
|Different present liabilities||5.2||5.2|
|TOTAL EQUITY & LIABILITIES||45.0||43.8|
Non-current monetary property embrace 11.9 M€ of commerce receivables with a maturity of multiple 12 months, in comparison with 12.1 M€ as of March 31, 2020.
Different present liabilities embrace notably 2.5 M€ of deferred income for the pre-orders of the Atari VCS. This quantity will probably be acknowledged as income within the second half of the 2020-2021 monetary 12 months.
Outlook for 2020/2021
The Group is now focusing on a constructive web earnings for the monetary 12 months 2020-2021 (in comparison with a rise in profitability over the prior monetary 12 months), regardless of the delays within the licensing actions and of the launch of the VCS brought on by the worldwide pandemic. Attaining this goal assumes the supply earlier than March 31, 2021 of the produced VCS models, in addition to the finalization of licensing agreements within the second half of the monetary 12 months 2020-2021 at the moment being negotiated. These parts might nonetheless be delayed to the next quarter given the persistent well being disaster and the dangers inherent in any negotiation course of.
The second half will probably be marked by a number of vital initiatives, in specific:
- Launch of the free-to-play model of the Beat Legend recreation, and gradual worldwide launch
- Public testing of Atari Fight in varied chosen international locations
- Continuation of licensing actions, significantly for house arcades
·Public testing of Atari On line casino on the blockchain
- First deliveries made in December 2020
- Ramp-up of manufacturing to satisfy orders acquired straight (Atari VCS on-line gross sales) or by means of distributors, with deliveries made earlier than March 31, 2021 contributing to income for the monetary 12 months
- Public sale and profitable itemizing of the Atari Token
- Launch of the Atari HQ in Decentraland
- Continued growth within the Sandbox, new check gross sales on WAX
The belief of the plans, and their operational price range and financing plan stay inherently unsure, and the non-realization of those assumptions could affect their worth.
Atari, comprised of Atari SA and its subsidiaries, is a worldwide interactive leisure and multiplatform licensing group. The true innovator of the online game, based in 1972, Atari owns and/or manages a portfolio of greater than 200 video games and franchises, together with globally recognized manufacturers reminiscent of Asteroids®, Centipede®, Missile Command® and Pong®. From this vital portfolio of mental properties, Atari delivers enticing on-line video games for smartphones, tablets, and different linked gadgets. Atari additionally develops and distributes interactive leisure for Microsoft, Sony and Nintendo recreation consoles. Atari additionally leverages its model and franchises with licensing agreements by means of different media, spinoff merchandise and publishing. For extra data: www.atari.com and www.atari-investisseurs.fr/en/. Atari shares are listed in France on Euronext Paris (Compartment C, ISIN Code FR0010478248, Ticker ATA), in Sweden on Nasdaq First North Development Market as Swedish Depositary Receipts (ISIN Code SE0012481232, Ticker ATA SDB) and are eligible for the Nasdaq Worldwide program in the US (OTC – Ticker PONGF).
Atari – Philippe Mularski, CFO Calyptus – Marie Calleux
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Internet money place as of September 30, 2020
|Internet money place (in hundreds of thousands of euros)||30.09.2020||31.03.2020|
|Legalist (IFRS 9)||–||(0.9)|
|OCEANEs 2003 – 2020||–||(0.6)|
|Legalist (IFRS 9)||(1.2)||–|
|Paycheck Safety Program mortgage||(0.3)||–|
|Legalist non-cash restatement (1)||1.2||0.9|
|Gross monetary debt||(0.3)||(0.6)|
|Money and money equivalents||1.2||1.8|
|NET CASH POSITION||0.9||1.1|
(1) Gross monetary debt is restated for the Legalist debt, which was recorded as a monetary legal responsibility beneath IFRS 9 however will probably be definitively retained by the Group.