PRESS RELEASE
The Board of Directors of Digital Bros Group approved the Interim Report
as of March 31st, 2024 (Q3 of Fiscal Year 2023-2024)
APPROVAL OF THE FY2023- 2024 YEAR TO DATE RESULTS:
- NET REVENUE AT EURO 75.8 MILLION (-15%)
- EBITDA AT EURO 20.2 MILLION, 26.7% OF NET REVENUE
- NEGATIVE EBIT FOR EURO 3.1 MILLION
- NET LOSS AT EURO 6.7 MILLION
- NET FINANCIAL DEBT AT EURO 45.6 MILLION
FY2023- 2024 THIRD QUARTER RESULTS:
- REVENUE AT EURO 28.7 MILLION (-2.3%)
- POSITIVE EBIT AT EURO 1.5 MILLION
REVENUE GROWTH CONFIRMED. EXPECTED EBIT MARGIN POSITIVE, BUT LOWER THAN THE EBIT ACHIEVED AS AT JUNE 30, 2023
APPROVAL OF THE FY2024-2025 FINANCIAL YEAR CALENDAR
- Consolidated net revenue for the first nine months of FY2024 at Euro 75.8 million, decreasing by 15% compared to the Euro 89.2 million realized as of March 31st, 2023;
- EBITDA at Euro 20.2 million compared to Euro 30.5 million realized as of March 31st, 2023, which included non-recurring restructuring costs for Euro 1.4 million;
- EBIT was negative for Euro 3.1 million, compared to the positive Euro 17.9 million as of March 31st, 2023;
- Net loss for Euro 6.7 million, compared to the net profit of Euro 15.7 million as of March 31st, 2023;
- Net financial debt at Euro 45.6 million (Euro 41.3 million net of IFRS 16 adjustment), in line with expectations and improving from the last quarter end. The net financial position at year end is expected to be at the same level as of June 30th, 2023;
- Confirmed revenue growth outlook at fiscal year-end. Expected EBIT margin largely positive but lower than the EBIT realized in the last fiscal year.
Milan, May 14th, 2024 - The Board of Directors of the Digital Bros Group (DIB:MI), videogames company listed on the Euronext STAR Milan (ISIN: IT0001469995) and part of the FTSE Italia Small Cap index and Euronext Tech Leaders, approved today the Interim Report as of March 31st, 2024 (first nine months of the fiscal year from July 1st, 2023 to June 30th, 2024).
FY2023 - 2024 first nine months results (from 01.07.2023 to 31.03.2024)
Euro thousand | March 31st, 2024 | March 31st, 2023 | Change € | Change % |
Net revenue | 75,800 | 89,177 | (13,377) | -15.0% |
Gross operating margin (EBITDA) | 20,236 | 30,470 | (10,234) | -33.6% |
Operating margin (EBIT) | (3,125) | 17,948 | (21,073) | n.m. |
Profit / (loss) before tax | (5,412) | 21,623 | (27,035) | n.m. |
Net profit / (net loss) | (6,680) | 15,711 | (22,391) | n.m. |
Digital Bros Group's key consolidated first nine months results for the fiscal year 2023-2024,together with prior year comparatives, are as follows:
- Consolidated net revenue of Euro 75.8 million, decreasing by 15%, compared to Euro 89.2 million as of March 31st, 2023;
- EBITDA at Euro 20.2 million (26.7% of net revenue) compared to Euro 30.5 million as of March 31st, 2023;
- EBIT was negative for Euro 3.1 million, compared to the positive EBIT at Euro 17.9 million as of March 31st, 2023;
- Loss before tax for Euro 5.4 million, compared to the profit before tax of Euro 21.6 million as of March 31st, 2023;
- Net loss for Euro 6.7 million, compared to the net profit of Euro 15.7 million realized as of March 31st, 2023.
Digital Bros Group's key consolidated results for the third quarter of the fiscal year 2023-2024are as follows:
FY2023 - 2024 third quarter results (from 01.01.2024 to 31.03.2024)
Euro thousand | March 31st, 2024 | March 31st, 2023 | Change € | Change % | |
Net revenue | 28,700 | 29,386 | (687) | -2.3% | |
Gross operating margin (EBITDA) | 10,559 | 11,893 | (1,334) | -11.2% | |
Operating margin (EBIT) | 1,524 | 6,601 | (5,077) | -76.9% | |
Profit / (loss) before tax | 416 | 6,469 | (6,053) | -93.6% | |
Net profit / (net loss) | (260) | 4,730 | (4,990) | n.m. | |
- Consolidated net revenue of Euro 28.7 million, decreasing by 2.3%, compared to Euro 29.4 million as of March 31st2 2023;
- EBITDA at Euro 10.6 million, increasing by 6% compared to the Euro 11.9 million as of March 31st, 2023;
- EBIT at Euro 1.5 million, decreasing from Euro 6.6 million realized as of March 31st, 2023;
- Profit before tax for Euro 416 thousand compared to the Euro 6.5 million as of March 31st, 2023;
- Net loss for Euro 260 thousand compared to the net profit for Euro 4.7 million realized as of March 31st, 2023.
RESULTS BY OPERATING SEGMENT
During the first nine months of the current fiscal year, Digital Bros implemented a strategic review of its operations in accordance with the latest market conditions, reviewing its pipeline and organizational structure accordingly. Releasing new games in the current market is more challenging than ever before, consumers are tending to play the same games for longer, rather than spending time on new and different gaming experiences, further attracting gamers to new releases requires greater investments in marketing than in the past.
Following the optimism resulting from the growth achieved across the whole video game industry during the pandemic, the Group implemented a significant investment plan, in line with most of its competitors. In 2023, a record number of new video games were launched within a very competitive marketplace, making it harder to meet the expected volume and revenue targets, requiring the Group to review its publishing strategy.
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The review of the Group's pipeline was based upon the expected return on investment of each title, prioritizing high margin titles with greater revenue predictability, as well as owned Intellectual Properties to leverage on their long- term value creation for the Group. As a result, the Group reduced a number of lower budgets projects but also some larger budget titles with lower expected margins for the Group and with longer development periods, such as the new releases within the Control franchise.
Due to the reduction of the overall number of titles, the Group reduced its workforce accordingly. This reduction also reflects the lower number of staff required by the internal studios after the launch of Crime Boss Rockay City and Puzzle Quest 3, which have both transitioned to their live support phase.
The reorganization plan started in the second quarter. The reorganization will deliver improved profit margin for the Group within the fourth quarter of the current fiscal year and will ensure the long-termsustainability of the Group's
structure.
The Group's total workforce went from 435 people as of June 30th, 2023, to 305 as of March 31st, 2024. The total cost of the restructuring plan as of March 31st, 2024, amounted to Euro 1,364 thousand, which is expected to be lower than the projected savings for the current fiscal year.
The Group's revenue amounted to Euro 75.8 million, down by 15% compared to the first nine months of FY23, when
the total revenue amounted to Euro 89.2 million. Two new video games were released in the reporting period, Ghostrunner 2 and Brothers: A Tale of Two Sons Remake.
The net revenue from the Premium Games operating segment amounted to Euro 59.6 million, representing 78.6% of net revenue, compared to the 77.7% as of March 31st, 2023. This was spread across different intellectual properties, with the outstanding performance of the different versions of Assetto Corsa. The franchise developed by the fully owned studio Kunos Simulazioni generated Euro 19.1 million revenue in the reporting period.
Revenue from international markets and digital sales respectively accounted for 97% and 92% of the total net revenue, in line with the previous fiscal year.
The breakdown of net revenue by operating segment for the nine-month period ended March 31st, 2024 compared to the period ended March 31st, 2023 is provided below:
Net revenue
Euro thousand | March 31st, 2024 | March 31st, 2023 | Change € | Change % | |
Premium Games | 59,603 | 69,349 | (9,746) | -14.1% | |
Free to Play | 14,084 | 17,235 | (3,151) | -18.3% | |
Italian Distribution | 1,372 | 1,888 | (516) | -27.3% | |
Other Activities | 741 | 705 | 36 | 5.1% | |
Total net revenue | 75,800 | 89,177 | (13,377) | -15.0% | |
Video games developed by the internal studios and fully owned intellectual properties (IPs) accounted for 53% of the total revenues for the operating segment from 44% as of March 31st, 2023. This is in line with the new Group's strategy, now focused on its owned Intellectual Properties within its video game portfolio.
A breakdown of Premium Games revenue by the type of rights held by the Group as of March 31st, 2024 is provided below with comparative figures as of March 31st, 2023:
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Publishing agreements 13%
FY24 9M
Owned IPs
53%
Publishing | FY23 9M |
agreements | |
34% |
Owned IPs
44%
Co-owned IPs and long
term agreements
34%
Co-owned IPs and long term agreements 22%
Net revenue from the Free to Play operating segment amounted to Euro 14.1 million, an 18.3% decrease from the Euro 17.2 million as of March 31st, 2023.
The net revenue from the Italian Distribution operating sector decreased by Euro 516 thousand, from Euro 1.9 million to Euro 1.4 million as of March 31st, 2024.
Digital Bros Group's revenue and margins by operating segments for the first nine months of fiscal year 2024-2024 are as follows:
Euro thousand | Premium | Free to | Italian | Other | Holding | Total | |
Games | Play | Distribution | Activities | ||||
Net revenue | 59,603 | 14,084 | 1,372 | 741 | 0 | 75,800 | |
Gross operating margin (EBITDA) | 26,582 | (55) | (795) | 22 | (5,518) | 20,236 | |
Operating margin (EBIT) | 6,149 | (1,945) | (894) | (254) | (6,182) | (3,125) | |
The total cost of sales amounted to Euro 25,108 thousand, a 9.1% decrease compared with the Euro 27,635 thousand of March 31st, 2023.
The gross profit amounted to Euro 50,692 thousand, decreasing from Euro 61,542 thousand as of March 31st, 2023.
The other income amounted to Euro 8,218 thousand, decreasing by Euro 4,435 thousand. The decrease in the capitalization of internal work for the development of video games reflects the launch of Crime Boss: Rockay City by the subsidiary Ingame Studios, which was still in production during the first nine months of the previous fiscal year.
Total operating costs amounted to Euro 38.674 thousand, decreased by 11.6% compared to the Euro 43,725 of the same reporting period in the previous fiscal year. As of March 31st, 2024, they included Euro 1,364 thousand non- recurring restructuring costs.
The gross operating margin (EBITDA) for the period represented 26.7% of net revenue and amounted to Euro 20,236 thousand, compared with the Euro 30,470 thousand realized as of March 31st, 2023.
Depreciation and amortization amounted to Euro 23,478 thousand, increasing by Euro 10,723 thousand, due to the launch of video games during the second half of the previous fiscal year.
The operating margin (EBIT) was negative for Euro 3,125 thousand, compared with the positive Euro 17,948 thousand realized in the first nine months of the previous fiscal year.
The net interest expense amounted to Euro 2,287 thousand compared to the net interest income of Euro 3,675 thousand realized in the first nine months of the previous fiscal year. As of March 31st, 2023, this item included the fair value adjustment of the financial receivable purchased from Starbreeze, which was then fully collected on July 3rd, 2023.
The loss before tax for the period ended March 31st, 2024 amounted to Euro 5,412 thousand, compared to the Euro 21,623 thousand profit before tax as of March 31st, 2023.
The consolidated net loss for the period amounted to Euro 6,680 thousand, compared with the net profit of Euro 15,711 thousand as of March 31st, 2023, which is expected to be fully covered by the fiscal year-end.
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The net loss attributable to the Shareholders of the Parent Company amounts to Euro 2,896 thousand. The net loss attributable to non-controlling interests amounted to Euro 3,784 thousand, increasing due to the loss realized by the Dutch subsidiary Rasplata B.V..
The basic loss per share and diluted loss per share were at Euro 0.20, compared with the basic earnings per share of Euro 1.05 and the diluted earnings per share of Euro 1.01 as of March 31st, 2023.
NET FINANCIAL POSITION
The net financial debt is at Euro 45,618 thousand, decreasing by 4,867 thousand compared to the previous quarter end. The net financial debt increased by Euro 5,968 thousand compared to June 30th, 2023 due to the significant investments of the period. Digital Bros will be able to manage its current liabilities with the future cash flow, benefiting from the corrective actions implemented by the Group (reduction in investment and the reorganization plan).
The total net financial position, net of the IFRS16 effect, is negative at Euro 41,350 thousand.
TREASURY SHARES
As of March 31st, 2024, Digital Bros S.p.A. did not hold any treasury shares, and no transactions have been made in the period, in accordance with Art. 2428 paragraph 2.3 of the Italian Civil Code.
SIGNIFICANT EVENT DURING THE PERIOD
The significant events occurred during the reporting period are listed below:
-
The Shareholders' Meeting held on October 27th, 2023 appointed the Board of Directors and the Board of
Statutory Auditors. The terms of the Directors and the Statutory Auditors will expire on the Shareholders' Meeting which will approve the financial statements as of June 30th, 2026; - On November 14th, 2023, having reconsidered the number of projects under development to adapt to the new competitive scenario, the Group announced an organizational review, which will result in the reduction of approximately 30% of its global workforce. Such reduction will predominantly be concentrated within its development studios and, to a lesser extent, across its publishing units, both Premium and Free to Play;
- On February 28th, 2024, the subsidiary 505 Games S.p.A. entered into an agreement with Remedy Entertainment to revert all publishing, distribution, and marketing rights related to the Control franchise to the Finnish developer, for a total repayment of minimum Euro 15.7 million, with a potential minor premium. This corresponds to the investment made to date by 505 Games for the development of the video games Condor and Control 2. 505 Games will continue as the exclusive publisher of Control until December 31st, 2024, executing the existing sublicensing deals under their original terms.
SIGNIFICANT EVENTS OCCURRED AFTER MARCH 31ST, 2024
No significant event occurred after the end of the reporting period.
BUSINESS OUTLOOK
In April 2024, the Group launched the new Downloadable Content (DLC) for Assetto Corsa Competizione (Nürburgring 24H pack), developed by its subsidiary Kunos Simulazioni, which introduced the iconic Nürburgring Nordscheifle circuit in the Fanatec GT World Challenge championship. During the same month, the Group also released the new video game Eiyuden Chronicle - Hundred Heroes, a Japanese role-playing game backed by a highly successful crowdfunding campaign.
The Group's release schedule for Q4 finally completes with the launch of the new version of the video game Crime Boss: Rockay City, scheduled for June 2024.
Promotional campaigns across the main digital marketplaces will only start a few days before the fiscal year-end. The timing of these campaigns will affect the Group's ability to meet the expected revenue within the current fiscal year.
The overall amount of expected revenue of the campaigns remains unaffected but will be mostly concentrated during the month of July. The healthy performance of recently launched products support a positive outlook.
As a result, the Group has cautiously revised its estimates from the previous forecast but the positive outlook for revenue growth at fiscal year-end is confirmed. The expected EBIT margin for the full fiscal year will be positive but
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lower than the EBIT achieved as of June 30th, 2023, as previously communicated.
The Group's net financial debt is expected to further decrease at fiscal year-end, returning to the same level as of June
30th, 2023. The expected increase in Q4 sales and the lower level of investment, particularly after the agreement with Remedy Entertainment, will contribute to the improvement of the Group's financial position.
OTHER RESULTIONS
Co-option of a new Board member
The Board of Directors decided to abstain from the co-option of a new Board member, following the passing of the former member, Lidia Florean. A consensus on a new nominee was not achieved and the Board assessed that the
current structure of eight members allows for an effective management control of the Group in its current complexity. Further decision about the co-option will be referred to the next Shareholders' Meeting.
Approval of the Financial Calendar for FY2024-2025
The Board of Directs approved Digital Bors' Financial Calendar for the fiscal year 2024/2025 as per Art. 2.6.2. of the Rules of the Markets organized and managed by Borsa Italiana S.p.A..
September 26th, 2024 | BoD - Approval of the Draft Financial Statements as of June 30th, 2024 |
(FY2023/2024) | |
October 28th, 2024 | AGM - Approval of the Financial Statements as of June 30th, 2024 (FY2023/2024) |
November 14th, 2024 | BoD - Approval of the Interim Report as of September 30th, 2024 (Q1 FY2024/2025) |
March 06th, 2025 | BoD - Approval of the Half Year Financial Statements as of December 31st, 2024 |
(FY2024/2025 half year report) | |
May 14th, 2025 | Bod - Approval of the Interim Report as of March 31st, 2025 (Q3 FY2024/2025) |
As of today, no presentations to financial analysts have been scheduled. Any amendment will be promptly communicated.
ART. 154-BIS OF THE T.U.F.
As required by paragraph 2, Art. 154-bis of the T.U.F., Digital Bros Group's Chief Financial Officer, Stefano Salbe, declares that the information contained in this press release corresponds to the Group's underlying documents, books and accounting records.
This press release is available on the websites www.digitalbros.comand www.1info.it.
DIGITAL BROS GROUP
Listed on the Euronext STAR Milan and part of Euronext Tech Leaders, Digital Bros Group is a global company that has been operating since 1989 as a developer, publisher and distributor of video games through its brand 505 Games, The Group markets its contents on both retail and digital channels, Digital Bros Group is active around the world through its own direct operations in Italy, United States, UK, Czech Republic, China, Japan, Australia and Canada with 305 employees.
For further information please contact:
Digital Bros S.p.A.
Stefano Salbe - CFO
Tel. + 39 02 413031
ir@digitalbros.com
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DIGITAL BROS GROUP - FINANCIAL STATEMENTS
Consolidated balance sheet as of March 31st, 2024
Euro thousand | March 31st, 2024 | June 30th, 2023 | ||
Non-current assets | ||||
1 | Property, plant and equipment | |||
8,024 | 9,613 | |||
2 | Investment properties | |||
0 | 0 | |||
3 | Intangible assets | |||
142,346 | 153,023 | |||
4 | Equity investments | 11,400 | ||
6,908 | ||||
5 | Non-current receivables and other assets | 8,209 | 8,089 | |
6 | Deferred tax assets | 20,367 | 17,087 | |
7 | Non-current financial activities | |||
0 | 0 | |||
Total non-current assets | ||||
185,854 | 199,212 | |||
Current assets | ||||
8 | Inventories | 3,355 | ||
3,068 | ||||
9 | Trade receivables | 15,403 | 14,104 | |
10 | Tax receivables | 4,815 | 3,977 | |
11 | Other current assets | |||
18,726 | 23,790 | |||
12 | Cash and cash equivalents | |||
4,010 | 9,407 | |||
13 | Other current financial assets | |||
144 | 11,344 | |||
Total current assets | 46,166 | 65,977 | ||
TOTAL ASSETS | 265,189 | |||
232,020 | ||||
Shareholders' equity | ||||
14 | Share capital | (5,706) | (5,706) | |
15 | Reserves | (21,367) | ||
(9,407) | ||||
16 | Treasury shares | 0 | 0 | |
17 | Retained earnings | |||
(112,744) | (115,270) | |||
Equity attributable to the shareholders of the Parent | (127,857) | (142,343) | ||
Company | ||||
Equity attributable to non-controlling interests | 3,123 | (1,375) | ||
Total net equity | (124,734) | (143,718) | ||
Non-current liabilities | ||||
18 | Employee benefits | |||
(954) | (911) | |||
19 | Non-current provisions | (404) | (81) | |
20 | Other non-current payables and liabilities | (1,824) | ||
(1,576) | ||||
21 | Non-current financial liabilities | (6,108) | (11,285) | |
Total non-current liabilities | (9,042) | (14,101) | ||
Current liabilities | ||||
22 | Trade payables | (45,269) | (46,837) | |
23 | Tax payables | (1,367) | (2,782) | |
24 | Short term provisions | |||
0 | 0 | |||
25 | Other current liabilities | |||
(7,944) | (8,635) | |||
26 | Current financial liabilities | |||
(43,664) | (49,116) | |||
Total current liabilities | (98,244) | (107,370) | ||
TOTAL LIABILITIES | ||||
(107,286) | (121,471) | |||
TOTAL NET EQUITY AND LIABILITIES | ||||
(232,020) | (265,189) |
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Consolidated profit and loss statement for the period ended March 31st, 2024
Euro thousand | March 31st, 2024 | March 31st, 2023 | |
1 | Gross revenue | 75,842 | 89,228 |
2 | Revenue adjustments | (42) | (51) |
3 | Net revenue | 75,800 | 89,177 |
4 | Purchase of products for resale | ||
(1,581) | (2,176) | ||
5 | Purchase of services for resale | (7,604) | (6,814) |
6 | Royalties | ||
(15,636) | (18,097) | ||
7 | Changes in inventories of finished products | (287) | (548) |
8 | Total cost of sales | ||
(25,108) | (27,635) | ||
9 | Gross profit (3+8) | 50,692 | 61,542 |
10 | Other income | ||
8,218 | 12,653 | ||
11 | Costs for services | ||
(8,241) | (10,529) | ||
12 | Rent and leasing | ||
(333) | (449) | ||
13 | Payroll costs | (31,426) | |
(29,087) | |||
14 | Other operating costs | (1,013) | (1,321) |
15 | Total operating costs | (38,674) | (43,725) |
16 | Gross operating margin (EBITDA) (9+10+15) | ||
20,236 | 30,470 | ||
17 | Depreciation and amortization | (23,478) | (12,755) |
18 | Provisions | ||
0 | 0 | ||
19 | Asset impairment charge | ||
(779) | (580) | ||
20 | Impairment reversal | 896 | 813 |
21 | Total depreciation, amortization and impairment adjustments | (23,361) | (12,522) |
22 | Operating margin (EBIT) (16+21) | (3,125) | 17,948 |
23 | Interest and financial income | ||
1,665 | 8,583 | ||
24 | Interest and financial expenses | (3,952) | (4,908) |
25 | Net interest income/(expenses) | (2,287) | 3,675 |
26 | Profit/ (loss) before tax (22+25) | ||
(5,412) | 21,623 | ||
27 | Current tax | ||
(657) | (5,724) | ||
28 | Deferred tax | (611) | (188) |
29 | Total taxes | ||
(1,268) | (5,912) | ||
30 | Net profit/loss (26+29) | (6,680) | 15,711 |
attributable to the shareholders of the Parent Company | (2,896) | 14,911 | |
attributable to non-controlling interests | |||
(3,784) | 800 | ||
Earnings per share: | |||
33 | Basic earnings per share (in Euro) | (0.20) | 1.05 |
34 | Diluted earnings per share (in Euro) | ||
(0.20) | 1.01 |
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Consolidated comprehensive income statement as of March 31st, 2024
Euro thousand | March 31st, 2024 | March 31st, 2023 | |
Profit (Loss) for the period (A) | (6,680) | 15,711 | |
Actuarial gain (loss) | (5) | (3) | |
Income tax relating to actuarial gain (loss) | 1 | ||
1 | |||
Changes in the fair value | (15,889) | 7,115 | |
Tax effect regarding fair value measurement of financial assets | 3,813 | (1,708) | |
Items that will not be subsequently reclassified to profit or loss (B) | (12,080) | 5,405 | |
Exchange differences on translation of foreign operations | 2 | (593) | |
Items that will subsequently be reclassified to profit or loss (C) | 2 | (593) | |
Total other comprehensive income D= (B)+(C) | (12,078) | 4,812 | |
Total comprehensive income (loss) (A)+(D) | 20,523 | ||
(18,758) | |||
Attributable to: | |||
Shareholders of the Parent Company | (14,974) | 19,723 | |
Non-controlling interests | (3,784) | 800 | |
Changes in fair value reflected the changes in third party equity investments that were classified in the consolidated comprehensive income statement and not in the consolidated profit and loss statement.
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Consolidated cash flow statement as of March 31st, 2024
Euro thousand | March 31st, 2024 | March 31st, 2023 | ||
A. | Opening net cash/debt | 9,407 | 10,961 | |
B. | Cash flows from operating activities | |||
Profit (loss) for the period | (6,680) | 15,711 | ||
Depreciation, amortization and non-monetary costs: | ||||
Provisions and impairment losses | 779 | (580) | ||
Amortization of intangible assets | ||||
21,516 | 10,775 | |||
Depreciation of property, plant and equipment | 1,962 | 1,980 | ||
Net change in tax advance | (2,468) | |||
(3,280) | ||||
Net change in other provisions | ||||
323 | 0 | |||
Net change in employee benefit provisions | 43 | 115 | ||
Net change in other non-current liabilities | (12,304) | 4,946 | ||
SUBTOTAL B. | ||||
2,359 | 30,479 | |||
C. | Change in net working capital | |||
Inventories | ||||
287 | 548 | |||
Trade receivables | 7,200 | |||
(1,299) | ||||
Current tax assets | (838) | 328 | ||
Other current assets | 5,064 | 54 | ||
Trade payables | ||||
(1,568) | (300) | |||
Current tax liabilities | ||||
(1,415) | 2,250 | |||
Current provisions | 0 | 0 | ||
Other current liabilities | (691) | 3,266 | ||
Other non-current liabilities | 2,947 | |||
(248) | ||||
Non-current receivables and other assets | ||||
(120) | (3,775) | |||
SUBTOTAL C. | (828) | 12,518 | ||
D. | Cash flows from investing activities | |||
Net payments for intangible assets | (11,618) | (56,405) | ||
Net payments for property, plant and equipment | (373) | (1,722) | ||
Net payments for non-current financial assets | ||||
4,492 | (6,967) | |||
Changes in financial assets | 11,200 | 0 | ||
SUBTOTAL D. | 3,701 | (65,094) | ||
E. | Cash flows from financing activities | |||
Capital increases | ||||
0 | 1 | |||
Changes in financial liabilities | 25,776 | |||
(10,629) | ||||
Changes in financial assets | 0 | (3,956) | ||
SUBTOTAL E. | ||||
(10,629) | 21,821 | |||
F. | Changes in consolidated equity | |||
Dividends paid | 0 | (2,568) | ||
Changes in treasury shares held | ||||
0 | 0 | |||
Increases (decreases) in other equity components | 0 | 0 | ||
SUBTOTAL F. | 0 | (2,568) | ||
G. | Cash flow for the period (B+C+D+E+F) | |||
(5,397) | (2,844) | |||
H. | Closing net cash/debt (A+G) | 4,010 | 8,117 | |
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Digital Bros S.p.A. published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 16:49:02 UTC.