TORONTO, ONTARIO — (Marketwired) — 04/25/16 — Imperus Technologies Corp. (“Imperus” or the “Company”) (TSX VENTURE: LAB)(FRANKFURT: ISX)(FRANKFURT WKN: A12B58) announces its financial results for the fourth quarter and year ended December 31, 2015. Imperus reports revenue of CAD$8.4 million and adjusted EBITDA of CAD$2.6 million for the three months ended December 31, 2015 and revenue of CAD$24.1 million and adjusted EBITDA of CAD$5.3 million for the twelve months ended December 31, 2015. Akamon Entertainment Millenium, S.L. (“Akamon”) operating activities were consolidated into Imperus starting November 16, 2015.
Had Akamon been fully consolidated, revenue and adjusted EBITDA for Akamon and Diwip Ltd. (“Diwip”) on a combined basis, excluding Imperus overheads, for the full fourth quarter of 2015 would have been CAD$11.0 million and CAD$4.1 million respectively, compared to revenue of CAD$10.7 million and EBITDA of CAD$3.9 million for the third quarter of 2015.
See non IFRS measures
Operational Highlights and Revised Guidance
James Lanthier, CEO of Imperus, stated: In 2015, Imperus underwent a complete business transformation, from a developer of real money gaming technology at the beginning of the year to a top 10 social casino game publisher and operator. Imperus– transformation, however, has only just begun. Since the acquisition of Akamon we have moved to integrate both operating businesses under one management structure in order to realize synergies and more importantly, a common strategic direction.
We are also working towards streamlining our stable of brands and to that end we expect to make an announcement regarding the choice of a new corporate name, and the sun-setting of the old Diwip and Akamon brands. While our games and consumer destinations will retain their well-known consumer names like “Best Casino”, “Best Slots”, and “Mundijuegos”, we plan to move forward as one company under one name. We expect to make an announcement regarding this new name soon, which will be subject to shareholder approval.
Our strategy beyond simply enjoying the substantial benefits of bringing these businesses together is to grow and maintain our leadership position in non-US markets where we believe the opportunity for returns are greater, by offering customers the most engaging, social game content across the broadest possible range of platforms and channels. In less developed social casino markets, customer acquisition costs are lower, growth rates are higher, and there is an opportunity to build a market leading business that can grow along with secular trends. We are continuing to focus our efforts on Latin America, where the interactive games category has the fastest growth rate of any geographic region, but the social casino market is much less well developed.
We are now in a better position to update the guidance issued by the previous management team. For 2016 we see revenue of CAD$49-52 million and Adjusted EBITDA of CAD$17-$19 million. We have revised guidance taking into account that we now have the benefit of a fuller understanding of the consolidated business, as well as taking into account overall growth rates in our sector. Our new guidance is not only realistic and achievable, it also represents significant growth – a growth rate of approximately 18-20% of Akamon and Diwip consolidated over the prior year, pro-forma. I would also note that this growth rate is higher than the estimate provided by Eilers– of 16% for overall growth in the social casino space in 2016. We feel very good about our business and its trajectory.”
Vicenc Marti, President of Imperus stated: “2016 will be the first year in which Imperus will benefit from the full-year effect of having two great social casino assets, Diwip and Akamon. The two teams will collaborate to multiply each company–s already strong performances in Q4 2015. We look forward to seeing our industry leading game design teams complement our current strong portfolio with exciting new titles that are expected to perform on fast growing mobile platforms such as Android and IOS. We will cross sell to our existing users and acquire new users, predominantly in areas of higher growth such as Latin America, where Imperus already leads the industry.”
Financial Results and Non-IFRS Measures
The Company has included certain Non-IFRS performance measures, namely EBITDA and adjusted EBITDA, within this press release. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, Imperus and certain investors use this information to evaluate the Company–s performance and ability to generate cash, profits and meet financial commitments. These Non-IFRS measures are intended to provide additional information, do not have any standardized meaning prescribed by IFRS, s h o u l d not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and may not be comparable to similar measures presented by other issuers.
About Imperus
Imperus Technologies Corp., the parent company of Diwip and Akamon, is a developer of social and mobile gaming for PC, Mac, iOS and Android platforms. Diwip and Akamon design, develop and distribute their top ranked social casino-themed games within online social networks (such as Facebook) and mobile platforms (such as Android and iPhone). All of the Diwip and Akamon games are free to play and generate revenue primarily through the in-game sale of virtual coins.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute “forward looking information” which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as “may—-, “will—-, “expect—-, “believe—-, “plan—- and other similar terminology. Forward looking information includes, but is not limited to, the financial and operational results of Diwip and Akamon, financial and operational projections for Imperus and its subsidiaries, proposed new projects, the future prospects, financial results, operations and success of Akamon, Diwip and Imperus. Forward-looking information is provided for the purpose of presenting information about management–s current expectations relating to the future events and the operating performance of the company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the company to finance the Acquisition, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Imperus or the Acquisition target operates. The foregoing list of factors is not exhaustive. Please see the Company–s short form prospectus dated March 27, 2015, the Company–s Annual Information Form dated November 11, 2015 and other documents available on , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Spyros P. Karellas
President & CEO
Pinnacle Capital Markets LTD.
Mobile/Office:416-433-5696
/ Skype: spyros.karellas
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