Profil:
Huuuge, Inc.Huuuge games posts USD 24.8 mln adj. EBITDA in Q4 2024, above expectations
Listed video games developer Huuuge posted an adjusted EBITDA of USD 24.8 million in the fourth quarter of 2024, down by 4.9 percent year on year, while beating the consensus for USD 22.1 million. Huuuge takes a selective approach to acquisitions and assesses that share buyback programmes are not currently a priority.
-------------- HUUUGE Q4 2024 RESULTS VS CONSENSUS EXPECTATIONS --------------- (data in USD mln)
| 4Q2024 | results | consensus | difference | y/y | q/q | YTD 2024 |
| USD mln | USD mln | % | % | % | USD mln | |
| Revenues | 61.7 | 62.7 | -1.5% | -13% | 5.0% | 250.9 |
| Adjusted EBITDA | 24.8 | 22.1 | 12.3% | -5% | 18.8% | 87.1 |
| EBIT | 18.7 | 18.4 | 1.8% | -17% | 7.0% | 70.7 |
| Attrib. net profit | 18.5 | 16.3 | 13.3% | -5% | 20.8% | 65.9 |
In the last quarter of 2024, Huuuge's revenue fell 13.4 percent year on year to USD 61.7 million, while rising 5.1 percent in quarterly terms. The PAP Biznes consensus was for USD 62.7 million revenue.
The margin of adjusted EBITDA was 40.2 percent, a year-on-year increase of 3.6 percentage points.
"Our fourth quarter results show that our long-term investment in game quality is starting to pay off. At the beginning of 2025, we carried out an extensive company-wide restructuring as the final stage of our transformation, resulting in a full focus on our core competencies in the social casino games segment," said the company's CEO Wojciech Wronowski, quoted in the press release.
He added that the positive reception of recent game updates and the continued growth momentum in the direct-to-consumer channel give Huuuge a solid foundation for 2025.
According to the press release, the company will focus on investments to support growth and that further share buyback programmes are not currently a priority.
"While acquisition opportunities continue to arise in the market, Huuuge takes a selective approach and focuses only on high-potential deals - driven by their strategic value rather than time pressure. The stability of revenues gives the company the space to act calmly and make bold, informed decisions," Huuuge stressed.
For the full 2024, Huuuge had USD 87.1 million in adjusted EBITDA and USD 250.8 million in revenue.
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