Q July 26, 2007

Transcription

1 Q July 26, 2007

2 Agenda 1. Company highlights 2. Project Status 3. Financials 2

3 Key financial summary, Q TUSD Revenue EBIT EAT Q2,2007 Q2,2006 1,593 4,611-1,460-1, Revenue Q2, 2007 revenue is according to plan Q2, 2006 were highly influenced by the launch of Dreamfall The Longest Journey Steady revenues from Anarchy Online and Plutolife Revenues expected to decline slightly until launch of Age of Conan Earnings Negative EBIT, as anticipated, due to increase in sales and marketing activities and other supporting costs related to Age of Conan Positive EAT due to exchange rate fluctuations Balance Cash balance of TUSD 29,859 as of June 31, 2007 and low interest bearing debt. Additional funding from private placement of approximately 30 million USD. 3

4 Highlights in Q More than 100,000 gamers signed up for Funcom s Massively Multiplayer Online Game (MMO) Age of Conan s external Beta test over the Easter holiday despite a demanding sign-up process. 50,000 signed up the first 24 hours, indicating a significant interest and anticipation for the game Age of Conan received in Q2 strong early sales indications from partners and retail channels both in the U.S. and in Europe Press and gamer expectations for Age of Conan continued to increase as large parts of the worlds gaming press were given hands on experience playing the game. Funcom secured 30 million USD through a private placement in June Age of Conan was demonstrated at the E3 show in partnership with Microsoft and Eidos in July 2007 and has received broad coverage in the gaming press. Funcom officially announced its next MMO, The Secret World, previously known by its working title The World Online Beta testing of Age of Conan is well underway. The Beta tests are focusing on stress testing and game play testing 4

5 Agenda 1. Company highlights 2. Project Status 3. Financials 5

6 Anarchy Online and Dreamfall Anarchy Online celebrated its 6 year anniversary Profitable game The Company announced plans to start sale of virtual items in Anarchy Online, as part of a process of continuous evaluation of business models for MMOs Content production focused on continuous online updates Online distribution Game of the Year edition to be published in the US Episodic content to be developed with support from Norwegian Film Fund 6

7 Age of Conan Production Status and progress Age of Conan technical set up Hosting centers being set up in Amsterdam and New Jersey in cooperation with IPSoft Estimating required size of server parks for launch Age of Conan development Completion of and iterations on game content Continuous iterations and enhancements of combat system Optimizing client performance Age of Conan Beta status Hands on press feedback Hands on Beta feedback Stress testing and profiling Optimization 7

8 Age of Conan Key focus areas Focus area: Process: Combat system Fun factor Internal focus testing External focus testing Testing with press Beta testing Internal focus testing External focus testing Testing with press Beta testing Technical issues Stress testing External evaluation and quality confirmations Testing 8

9 Age of Conan Broad Press coverage 9

10 Age of Conan Broad Press coverage Age of Conan received substantial coverage on more than 50 sites including: IGN, GameSpot, 1up, Gamespy, Kotaku, Escapist, FilePlanet, Voodoo Extreme, MPOGD.com as well as covers on several magazines Examples of magazine covers: 10

11 Age of Conan SC movie Over downloads from Gametrailers in less than two weeks downloads from Funcom website alone #1 video on MMORPG.com 11

12 Balance sheet BALANCE SHEET '30-Jun Full Year (Figures in TUSD) ASSETS Deferred tax asset 3,781 2,538 Other intangible assets 26,767 14,554 19,698 Tangible fixed assets 1, ,028 Long-term receivables 435 Trade debtors 826 2,554 1,239 Prepayments and other receivables 2,075 1,232 1,612 Cash and cash equivalents 29,859 42,424 37,423 Total assets 65,063 61,573 63,538 EQUITY AND LIABILITIES Paid in capital 94,772 94,214 94,442 Other reserves -34,591-37,313-35,325 Equity attributable to minority interest Long-term liabilities Short-term liabilities 4,766 4,245 4,225 Total equity and liabilities 65,063 61,573 63,538 12

13 E3 update E3 Show E3 was different from earlier E3 s. Invitation-only reduced the show by 90% from a consumer show to a trade show. Pre-E3 roadshow: With hands-on gameplay sessions for US and European media Feedback; Positive feedback: Fun, Innovative, Accessable and Strong gameplay Some reservations; Accessability of combos,and Too much button pressing The most extensive coverage since the announcement of the game. Awards: IGN Best of E3 award - Best PC Persistant Online Game (MMO) Runner up for best MMO at Gamespot Gamespy did not arrange for awards this year Funcom received the most coverage of all upcoming MMOs at E3 13

14 Agenda 1. Company highlights 2. Project Status 3. Financials 14

15 Profit and loss account PROFIT AND LOSS ACCOUNT Second Quarter Accumulated Full Year (Figures in TUSD) Revenues, PC/Console 1,084 4,050 2,278 5,337 8,492 Revenues, Mobile ,108 1,122 2,330 Total Operating Revenues 1,593 4,611 3,386 6,459 10,822 Cost of sales Operating expenses -2,705-2,972-5,324-5,288-9,818 Depreciation, amortization and write down , ,004-4,182 Total operating expenses -3,053-5,832-6,059-8,308-14,042 Earnings Before Interest and Tax ("EBIT") -1,460-1,221-2,673-1,849-3,220 Net financial items 1,139 2,016 2,048 3,244 3,820 Earnings Before Tax ("EBT") , Taxes 1, , ,636 Earnings After Tax ("EAT") ,315 3,236 Attributable to minority interest Attributable to shareholders of Funcom N.V ,346 3,347 Earnings per share (USD) Earnings per share fully diluted (USD) Average number of shares (1000) 47,881 47,745 49,788 46,175 46,969 Average number of shares fully diluted (1000) 49,856 48,995 49,856 47,425 48,306 15

16 Interim segment results INTERIM SEGMENT RESULTS Q2 Q3 Q4 Q1 Q2 (Figures in TUSD) Revenues, PC/Console 4,050 1,600 1,555 1,194 1,084 Revenues, Mobile Total operating revenues 4,611 2,217 2,146 1,793 1,593 Sales growth quarter by quarter (%) % % -3.2 % % % EBIT PC/Console -1, ,086-1,316 EBIT Mobile EBIT Total -1, ,017-1,213-1,460 16