10 years of consecutive growth: InnoGames increases revenues to 161.5 million EUR in 2017

10 years of consecutive growth: InnoGames increases revenues to 161.5 million EUR in 2017

Online game publisher and developer grows 62 percent in mobile

InnoGames, Germany's leading developer and publisher of mobile and online games, released its financial figures for 2017 today. After ten years of consecutive growth, the company increased its revenue once again by 24 percent in 2017. The new record-breaking revenue of 161.5 million EUR was primarily fuelled by mobile with an increase of 62 percent over the previous year. InnoGames’ browser games continued their positive development and strongly contributed to its success with revenues of 107 million EUR (an 11 percent increase). The company’s strategy proved effective: with an EBITDA margin of 25 percent, InnoGames was also able to increase overall profitability.

“2017 was another outstanding year for us at InnoGames. We celebrated our 10th anniversary, welcomed MTG on board and were able to surpass our own very ambitious goals once again – not only financially. We saw an increase of 15 percent in play time and an additional 13 percent in our daily active user base across our whole portfolio which proves our strategy right”, explains InnoGames’ CEO Hendrik Klindworth. 

InnoGames’ flagship games, Forge of Empires and Elvenar, saw increases of 36 percent in revenues, with mobile as the main driver for growth. Elvenar’s mobile version was successfully launched in November 2017 on iOS and Android and is expected to scale in 2018. As in previous years, the highest-ranking revenue markets for InnoGames in 2017 were the United States, Germany and France.

“The keys to our success definitely are our teams, our high-quality, data-driven approach and, ultimately, our games. We are focusing on the development of new mobile titles to further invest in future growth while optimizing our existing titles. I want to take the opportunity to thank all the players and everyone who contributed to another record-breaking year for InnoGames”, concludes Hendrik Klindworth.

InnoGames had generated an annual revenue growth of 26 percent in 2016, then 24 percent in 2017 and continues to grow sustainably. The forecasts for the current year are promising as InnoGames had a great start into 2018: More than 1 million EUR in revenue was generated with Forge of Empires’ Forge Bowl Event in February in a single day. Combined with Elvenar’s mobile version and the upcoming launch of Warlords of Aternum, the prospects for InnoGames are set to soar.

In October 2016, Modern Times Group, a leading international digital entertainment group, entered an agreement to acquire 35 percent of InnoGames from its former investor Eight Roads Ventures and the company’s founders. The transaction was based on an enterprise value of 260 million EUR for 100 percent of the company. In May 2017, MTG invested 82.6 million EUR to increase its shareholding in InnoGames to 51 percent. 

All financial figures in this press release are based on IFRS; if not stated otherwise, all comparisons are made from year-to-year.

 

About InnoGames

With a revenue of more than 160 million EUR and 420 employees from 30 nations, InnoGames is Germany’s leading developer and provider of mobile and online games. The company based in Hamburg and Duesseldorf counts more than 200 million registered players and is best known for Forge of Empires, Elvenar and Tribal Wars. InnoGames’ complete portfolio encompasses six live games and several mobile titles in production. After ten years of consecutive growth, InnoGames’ revenues increased by 24 percent in 2017 and are set to further soar with the recently launched mobile version of Elvenar and upcoming titles like Warlords of Aternum. 

About MTG

MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).

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