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Media and Games Invest SE (MDGIF) held its Annual General Meeting on September 15, 2022. Key resolutions included approving the Auditor's Report and Financial Statements for 2021, with no dividend declared. RSM Malta was re-appointed as auditors. An extraordinary resolution for a name change and re-domiciliation to Sweden was not passed due to insufficient votes. A total of 75,721,387 shares, or 47.55% of total shares issued, were represented at the meeting. Further discussions on the resolutions will occur at the next meeting scheduled for November 1, 2022.
Media and Games Invest SE reported a 37% increase in Q2 2022 net revenues to 78.1 mEUR, with 18% from organic growth. Adjusted EBITDA rose by 38% to 21.1 mEUR. The company confirmed its full-year guidance of 295-315 mEUR in revenues and 83-93 mEUR in adjusted EBITDA despite challenging macroeconomic conditions. Strong performance in both Demand and Supply Side segments contributed to the results. The focus remains on organic growth and cost synergies to enhance profitability and reduce debt.
Media and Games Invest SE (MDGIF) announced the promotions of Ionut Ciobotaru to Chief Product Officer and Sameer Sondhi to Chief Revenue Officer, enhancing its leadership in the digital advertising sector. Both executives bring extensive experience from their roles as Co-CEOs of the ad-tech arm, Verve Group. Their focus will be on product innovation and revenue generation, crucial to MGI's strategy of becoming a top ad-software platform by 2025. MGI reported a remarkable revenue CAGR of 77% from 2018 to 2021, evidencing strong growth through acquisitions and organic development.
Media and Games Invest SE (MDGIF) announced the withdrawal of agenda items 12 and 16 from its 2022 Annual General Meeting (AGM). These items will be clarified and proposed again at an Extraordinary General Meeting (EGM) later this year. Item 12, concerning Nomination Committee principles, will have clearer voting rights calculations, while item 16, related to the Employee Stock Ownership Plan (ESOP), will exclude an earlier proposed strike price adjustment. The AGM's approval is still crucial for the company's planned relocation to Sweden in January 2023.
Media and Games Invest SE (MDGIF) announced that its Nomination Committee has proposed appointing Deloitte Sweden as the new auditor during the upcoming Extraordinary General Meeting (EGM). This meeting is expected to take place in early November 2022, following the AGM on September 15, 2022. The decision comes as part of a strategic transition for the company, which has shown robust growth with a revenue CAGR of 77% from 2018 to 2021 and has successfully integrated over 35 acquisitions in the last six years. The proposal aims to enhance auditing efficiency amidst MGI's operational presence in Europe and North America.
Media and Games Invest SE (MDGIF) announces its Annual General Meeting (AGM) scheduled for September 15, 2022, in Valletta, Malta. Shareholders must register by August 16 to vote. The agenda includes the appointment of board members, approval of financial statements, and resolutions on a new employee stock option program (ESOP). Significant proposals involve re-domiciling the company to Sweden, changing its name, and issuing new shares post-re-domiciliation. Shareholders are encouraged to vote in advance due to potential COVID-19 restrictions.
Media and Games Invest SE (MDGIF) announced that its 2022 Annual General Meeting (AGM) will be held on September 15, 2022, at 10:00 (CEST).
The AGM relates to the company's planned relocation to Sweden, further detailed in published Transfer Documents by the Malta Business Registry on July 8, 2022.
Shareholders must review the Notice & Agenda to participate in the vote regarding this transfer.
Media and Games Invest SE (MDGIF) has acquired Dataseat, an innovative mobile demand-side platform, enhancing MGI's ad-software capabilities. Founded in 2018, Dataseat specializes in user acquisition through contextual signals rather than device IDs. The acquisition promises immediate synergies, increasing the attractiveness of MGI's platform for advertisers, particularly in the gaming sector. With a low upfront investment structure and conditional deferred payments, this strategic buy aims for accelerated growth, allowing MGI to leverage Dataseat's technology to reach a broader audience.
Media and Games Invest SE (MDGIF) announced a proposal to expand its Board of Directors from 5 to 6 members. This includes the re-election of Remco Westermann and Tobias M. Weitzel, with Weitzel proposed as the new Chairman, separating the roles of CEO and Chairman. The Board will include three new independent members: Franca Ruhwedel, Johan Roslund, and Mary Ann Halford, each bringing considerable experience in finance, governance, and the media sector. This change aligns with the company’s significant revenue growth from EUR 45m to EUR 252m since 2018, reflecting its need for enhanced governance.
Media and Games Invest (ticker: MDGIF) reported Q1 2022 net revenues of 65.9 mEUR, representing a 27% increase from Q1 2021, with 18% from organic growth. The adjusted EBITDA rose by 30% to 17.6 mEUR. The company experienced a 26% growth in total software clients and a 125% net dollar expansion rate for clients generating over 100k EUR annually. Revenues from North America accounted for 67% of total revenues, indicating accelerated growth in that region. The company's leverage ratio increased to 2.9x.
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