INVESTOR PRESENTATION - TOMORROWLAND: RISING STARS IN CEE E-COMMERCE, GAMING AND HEALTHCARE - Forever Entertainment SA ...
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INVESTOR PRESENTATION
TOMORROWLAND: RISING STARS IN CEE E-COMMERCE, GAMING AND HEALTHCARE
Gdynia, 20th May of 2021
COMPANY HIGHLIGHTS
STRATEGY 9x
№3 close cooperation
is based on growth in REVENUES
PUBLISHER with
the quality of INCREASE
number of games on NINTENDO
produced games from 2017
Nintendo Switch
DIVIDEND growth booster cooperation on IPs CONSOLIDATOR
POLICY “PANZER with SEGA on the video game
20-80% DRAGOON: G-MODE market
payout ratio REMAKE” SQUARE ENIX IN POLAND
2
KEY METRICS
COMPANY INFORMATION AUDITED RESULTS FOR YEARS 2016-2020
FOREVER ENTERTAINMENT S.A.
VIDEO GAMES - sector 27,3
FOREVEREN - abbreviation Revenues Net profit, adj.*
[PLN mil.]
FOR - ticker at the WSE
FOR:WA - Reuters ticker
NCIndex - index at NewConnect market
2,77% - share of FOR in the NCIndex
x 8,8
27,2M - number of outstanding shares
New strategy
PLN 181,4M - market capitalization at 14th of May 2021 13,7
IR CONTACT - Zenit Management
9,8
SHAREHOLDERS
6,4
M.Bednarski
3,1 3,3 3,4
26,80%
G.Maciąg
1,3
100% =
27,2M
58,08% shares Z.Dębicki (Pres ident)
9,66% 2016 2017 2018 2019 2020
5,45% Other * Net profit adjusted for one-off events
Source: Infostrefa.com, Company
3
MARKET METRICS
MARKET DATA QUOTES 14.05.2020-14.05.2021
6,67 share close price at 26.03.2021 [PLN]
6,36 | 15,20 min | max 52 week [PLN] 18,0
27 200 number of outstanding shares [ths.]
[PLN]
15 799 Free-Float [ths. shares] 16,0
181 424 Market Cap. [PLN ths.]
105 379 Free-Float [PLN ths.] 14,0
98,3 1D turnover, 3M average [ths. shares]
1 225,40 1D turnover value 3M average [ths. shares] 12,0
1,04 sales/share [PLN]
10,0
0,28 EBITDA/share [PLN]
0,61 net profit/share [PLN]
8,0
0,18 net profit, adj./share* [PLN]
1,14 book value/share (12M av.) [PLN]
6,0
0,74 book value/share* (12M av.) [PLN]
6,4 Price/Sales (P/S) [x]
4,0
23,6 EV/EBITDA [x]
11,0 Price/Earnings(P/E) [x] 2,0
37,5 Price/Earnings adj. (P/E adj.)* [x] FOR NC.Index norm. WIG.Games norm
5,8 Price/Book Value (P/BV) [x] 0,0
2020-05-29 2020-06-29 2020-07-27 2020-08-24 2020-09-21 2020-10-19 2020-11-17 2020-12-15 2021-01-19 2021-02-16 2021-03-16 2021-04-15 2021-05-14
9,0 Price/Book Value adj. (P/BV adj.)* [x]
24,0% Return on Equity (ROE)*
* Earnings per share adjusted for one-off events described in the financial reports of the Company
(more information later in the presentation). Source: Infostrefa.com, Company
4
FE IS WELL RECOGNIZED WORLDWIDE
AS THE PRODUCER OF THE MOST CHALLENGING
PORTS FOR THE NINTENDO SWITCH CONSOLE
PANZER DRAGOON:REMAKE THIEF SIMULATOR
COOKING SIMULATOR GREEN HELL
Source: Company
5
DEVELOPMENT OF FE IN 2016-2021
s
a rter
i ng qu
om
upc
LTM results quarterly [PLN mil.]
PANZER
DRAGOON: THE HOUSE OF THE
Revenues
REMAKE (SEGA) DEAD: REMAKE
EBITDA premiere on NS 28,3 (SEGA)
27,3
Net Profit, adj. KES Nintendo Indie World
A
R EM
+ Another
FOUR REMAKES
17,7
ions Cooperation with
NEW STRATEGY ro duct 13,7 SQUARE ENIX
n p
focus on console + ow
ngs 9,2 - REMAKES -
Nintendo Switch (NS) por ti 9,8 7,9 7,5
4,5 OWN PRODUCTIONS
3,6 premieres in 2021
6,1 6,4
3,1 4,8 - The Mansion in EA -
1,3 3,3 3,4
- 1,0
- 0,4
- 1,3
4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19* 3Q19* 4Q19* 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21
Source: Company
6
FOREVER ENTERTAINMENT GROUP
FOREIGN COMPANIES
DOMESTIC COMPANIES
49,00% 45,22% 45,00% 38,70% 36,96% 100,00%
TA
FEARFUL MEGAPIXEL STORM FOREVER
PUBLISHING UF GAMES
ENTERTAIN. STUDIO TRIDENT SEED FUND
(FRANCE)
100,00%
joint venture joint venture
with with development studio development studio market
HIGH BALL Ultimate Games S.A. Bloober Team S.A. - Wrocław - - Gdańsk - consolidator
STUDIO
(FRANCE)
the company in the process of placing their shares on the NewConnect
Source: Company
7
BUSINESS MODEL OF THE FE GROUP
DEVELOPMENT MARKETING &
ENTITY IP ACQUISITIONS
STUDIO PUBLISHING
IP Polish and foreign, own productions, porting, publisher on main platforms
FOREVER ENTERTAINMENT own productions remake distributing video games
own productions, porting,
MEGAPIXEL STUDIO IP Polish and own productions
remake
IP from PlayWay group and from
UF GAMES Ultimate Games group in Poland
own productions, porting,
STORM TRIDENT IP Polish
remake
own productions, porting,
TA PUBLISHING IP foreign from UE
remake
own productions, porting,
HIGH BALL STUDIO remake
FEARFULL ENTERTAINMNET IP horror, foreign remakes
FOREVER SEED FUND investments investments
Source: Company
8
GLOBAL VIDEO GAME MARKET OUTLOOK
WORLD VIDEO GAME MARKET 2012-2020 AND 2023 FORECAST
[US$ bn]
204,6
+16%
177,8
144,4
138,5
121,7
106,5
93,1
84,8
76,5
70,6
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 F
Source: Worldwide; Newzoo; 6th May of 2021.
9
SALES OF NINTENDO SWITCH
SALES OF NS CONSOLES: QUARTERLY / LIFETIME
[mil. units]
Additional 30 million units of Nintendo Switch
79,9
console is expected to be sold in 2021
+27,4 68,3
61,5
55,8
52,5
+20,2
41,7
Nintendo & Tencent - China
36,9
34,7
32,3
+17,4
Nintendo Switch Lite
COVID-19
COVID-19
COVID-19
COVID-19
22,9
19,7
+14,9 17,8
14,9
7,6
4,7
2,7
2,0 2,9 7,2 2,9 1,9 3,2 9,4 2,5 2,1 4,8 10,8 3,3 5,7 6,9 11,6
17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4
Source: www.nintedo.co.jp, own calculations
10UNIT SALES OF CONSOLES
SALES CONSOLES LIFETIME FROM YEAR 2000
154,0
1,63 159,0 rate of sales
[mil. units]
per month
1,30
115,2
101,6
87,5 85,0
81,5 79,9 80,0
75,9 0,46
41,0
4,5 2,8
2001 - 2004 - 2006 - 2011 - 2017 - 2000 - 2004 - 2006 - 2013 - 2020 - 2005 - Xbox 2013 - Xbox 2020 - Xbox
GameBoy Nintendo DS. Nintendo Wii Nintendo Nintendo PlayStation 2 PlayStation PlayStation PlayStation PlayStation 360 One Series X/S
Advance 3DS. Switch Portable 3 4 5
236,1 mil. of buyers has been attracted by the three best-selling consoles Source: www.ign.com
11OVER 150 PREMIERES
NUMBER OF PREMIERES ON MAIN PLATFORMS [UNITS] THE BEST-SELLING TITLES [UNITS]
PC TOTAL
Own Productions* 13 2 3 - 19 37
05.2019-02.2021 (21 months)
Porting** 73 9 11 - 41 134
Remake** 1 1 1 1 1 5
TOTAL 87 12 15 1 61 147
* include co-productions
** porting and remake include publishing activity
06.2018-07.2020 (25 months)
Source: Company
12PANZER DRAGOON: REMAKE ON ALL PLATFOMRS
2020 Q1 2020 Q3 2021-
PANZER DRAGOON
II ZWEI: REMAKE
„SHADOW DROP” 2020 Q2 2020 Q4
Source: Company
13THE MOST IMPORTANT PREMIERES 2020/2021
PUBLISHED PUBLISHED PUBLISHED
PORTING & PUBLISHING
OWN TITLES
REMAKE
…
PLANNED PREMIERES PLANNED PREMIERES PLANNED PREMIERES
Published on 13th May, 2021
NE
XT
SL
IDE
Source: Company
14A STRONG PORTFOLIO OF REMAKE GAMES
WITH PREMIERES PLANNED FOR 2021 - …
Source: Company
15UPCOMING BUSINESS DEVELOPMENTS
CO-OPERATION
ü announcement of the premiere dates of the most important titles, including IPs from SEGA and G-MODE
ü statement about titles of remake games obtained from SQUARE ENIX and launching a worldwide
marketing campaign
COMPANIES OF THE FE GROUP
ü starting the official process of floating of MEGAPIXEL STUDIO S.A. and of UF GAMES S.A. shares
and setting the dates of their debuts on the NewConnect market
ü development of FEARFUL ENTERTAINMENT S.A. and the disclosure of the title of the famous horror for
remake
ü commencement of investment activities FOREVER SEED FUND
Source: Company
16STRATEGIC GOALS
NINTENDO SWITCH TARGET POSITION #2
“REMAKE” SEGMENT 3-4 IP PER YEAR
MARKETS & PLATFORMS SPECIALIZATION: CONSOLES
FURTHER DEVELOPMENT
ACQUISITION OF “BETTER” IP | INVESTMENTS | VALUE INCREASE
17THANK YOU FOR YOUR ATTENTION
ZBIGNIEW DĘBICKI
THE PRESIDENT OF THE MANAGEMENT BOARD OF FOREVER ENTERTAINMENT S.A.
IR CONTATS:
JOANNA PRUŚ – JOANNA.PRUS@FOREVER-ENTERTAINMENT.COM
PIOTR WOŹNIAK – PWOZNIAK@ZENIT.COM.PL
18DISCLAIMER
This presentation has been prepared by Forever Entertainment S.A. (“FESA” or “Company”) for its shareholders,
analysts, and other contractors. This presentation has been prepared solely for information and is not an offer to buy
or sell or a solicitation of an offer to buy or sell any securities or instruments. This presentation is not an investment
recommendation or an offer to provide any services.
All efforts have been made to present the data in this presentation; however, some data are derived from external
sources and have not been independently verified. No warranty or representation can be given that information in this
presentation is exhaustive or true.
Forever Entertainment S.A. has no liability for any decisions made on the basis of any information or opinion in this
presentation. Forever Entertainment S.A. informs that in order to obtain information about the Company reference
should be made to periodic and current reports published in compliance with applicable provisions of Polish
legislation.
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