Danish esports organization Astralis Group published its financial report for the 2021 financial year.
In the report, the company announced a 45% increase in net sales — DKK51.5m (~£5.75m) in 2020 to DKK75m (~£8.37m) in 2021.
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According to a statement, the annual financial results are “in line with expectations” after the listed company showed signs of growth.
Astralis also confirmed in the report that its EBITDA (eearnings before interest, taxes, depreciation and amortization) a improved by -14.5 million Danish crowns (~-£1.62m) in 2019 at -7.9 million Danish kroner (~-£881,600) in 2021.
Nevertheless, the financial results show a pre-tax loss of DKK35.2m (~-£3.93m), while the depreciation of its purchase price linked to the team’s acquisitions in 2019 amounts to -23.4 M DKK (~-£2.61m).
Some of Astralis’ key business operations in 2021 include thexpanding to two new game titles and leagues in key markets and opening its Astralis Nexus gaming center in Copenhagen. Additionally, the organization also revamped its team rosters, made changes within the organization, and expanded its business, content, and digital departments.
Along with its business activities, the company has entered into business partnerships and expansions with consulting firm Capgemini, cryptocurrency platform Bybit, and electronics retail chain POWER.
Regarding the organization’s outlook for 2022, the report states that its financial target is a net income of between DKK85m (~£9.5m) and DKK90m (~£10m). sterling), which would represent an increase of 13 to 20%. and an EBITDA between DKK 0m (~£0m) and DKK 5m (~£558,000).
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Anders Horsholt, CEO of Astraliscommented“The result is satisfactory, and we remain on track with an expectation of continued growth in 2022.
“It’s a pleasure to watch our organization grow, adding lots of skilled young talent with incredible drive and ambition, and I look forward to achieving our ambitious goals in 2022 and beyond.”
Hørsholt also mentioned that Australis’ franchise rights in the CS:GO, League of Legends and Rainbow Six Siege leagues help increase the organization’s direct revenue from league television rights, partnerships commercial and related activities, as well as public exposure in key markets.
Esports Insider says: Despite another year marked by the continued effects of the global pandemic, Astralis has managed to deliver on the goals it set out a year ago, which should reassure investors about the capabilities of the business. Compared to the 2020 report, the organization posted significantly higher net revenue growth in 2021, demonstrating its intentions to build a leading global brand. That said, the company the financial result for the year remains negative, so it will be interesting to see if Astralis reaches its target for 2022 and manages to enter the green figures.
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