H1 Revenue Growth Ahead of Full-Year Guidance
PARIS -- Gameloft achieved consolidated sales of€45.9 million for the first half of 2007, up by 50% from the previous year. On a comparable consolidation and exchange rate basis, half-year growth would have reached 61%.
Europe accounted for 44% of the sales during the first half, North America 38% and the rest of the world, 18%.
Since the beginning of 2007, the sharp increase in the company’s sales is a result of:
The company's financial position has become stronger with the first 6 months of 2007. The cash level at June 30, 2007 was close to€21 million (compared to€18.6 million at the end of 2006) allowing us to confirm our objective of an operating cash flow close to breakeven or positive during fiscal 2007.
At the end of 2007, Gameloft's catalogue will amount to nearly 200 games, sold in over 80 countries, via over 180 carriers and compatible with over 1,000 different cell phone models.
Gameloft, the leading independent publisher of mobile games, is ideally positioned to consolidate its leadership and is very confident about its outlook for growth and profitability in the upcoming years. For 2008, Gameloft sets an objective of over€130 million in sales, along with an operating margin (excluding employee stock based compensation) around 15%.
The consolidated half-year results will be published on August 30, after the close of the market.
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