Fast-growing player in affiliation and online gaming

Future Gaming Group

Future Gaming Group (FGG) is a fast growing iGaming company. Its main focus is on affiliation, but it also has an operator business in online casino and sports betting. The affiliation is mainly done through paid media (PPC) in regulated markets, which means the company is paying for traffic to its customers, i.e. the operators. Due to a broad customer base with exposure to several different verticals, FGG runs various revenue models depending on the customer’s characteristics, e.g. a revenue-share model, CPA (cost per acquisition) or a hybrid of these. FGG has an active M&A agenda and aims to capitalize on the fragmented market.

Financials

Future Gaming Group

SEKm 2017 2018 2019
Sales 16 73 90
Sales growth (%) 150,3 362,3 24,1
EBITDA -6 28 31
EBITDA margin (%) -38,4 38,5 33,8
EBIT adj -19 24 28
EBIT adj margin (%) -119,2 32,9 31,1
Pretax profit -14 11 15
EPS rep -0,03 0,01 0,01
EPS growth (%) 28,8 135,9 15,5
EPS adj -0,04 0,01 0,01
DPS 0 0 0
EV/EBITDA (x) -59,9 8,6 7,4
EV/EBIT adj (x) -19,3 10 8,1
P/E (x) -8,7 11,1 9,6
P/E adj (x) -6,4 13,3 9,6
EV/sales (x) 23 3,3 2,5
FCF yield (%) -106 -61,4 9,7
Dividend yield (%) 0 0 0
Net IB debt/EBITDA -26,4 3,9 3,2

Main shareholders

Future Gaming Group

Main shareholders Share capital % Voting shares % Verified
Avanza Pension 12.5 % 12.5 % 30 Sep 2018
Nordea Liv & Pension 8.9 % 8.9 % 30 Sep 2018
New Equity 8.2 % 8.2 % 30 Sep 2018
Björn Mannerqvist 3.4 % 3.4 % 30 Sep 2018
Mexon Holding AB 3.0 % 3.0 % 30 Sep 2018
Swedbank Försäkring 2.2 % 2.2 % 30 Sep 2018
Marcus Petersson 1.6 % 1.6 % 30 Sep 2018
Christian Olofsson 1.6 % 1.6 % 30 Sep 2018
Marcus Johansson 1.3 % 1.3 % 30 Sep 2018
Tony Petersson Invest AB 1.3 % 1.3 % 30 Sep 2018

Insider list

Future Gaming Group

Name
Alexander Adam Martin Pettersson
Alexander Adam Martin Pettersson
Tobias Fagerlund
Alexander Adam Martin Pettersson
Christian Bönnelyche
Christian Bönnelyche
Stefan Vilhelmsson
Björn Mannerqvist
Tobias Fagerlund
HENRIK GRANLUND
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