Keywords Studios, a global provider of creative and technology-enabled solutions to the video game and entertainment industries, released its unaudited half-year results for the six months ending June 30, 2024. The results show a solid trading performance with a 7% revenue increase to $440 million, reflecting acquisitions, and an adjusted operating profit of $57 million. The companys net debt increased to $102 million, and it continues to have a strong balance sheet and liquidity position. The results are presented in US dollars as the group adopted the currency as its presentational currency from January 1, 2024.
| Metric | H1 2024 | H1 2023 | Change |
|---|---|---|---|
| Group revenue | $440.4m | $413.3m | +6.6% |
| Organic revenue growth | -1.9% | N/A | N/A |
| Adjusted EBITDA | $77.8m | $83.3m | (6.6)% |
| Adjusted EBITDA margin | 17.7% | 20.2% | N/A |
| EBITDA | $15.4m | $65.3m | (76.4)% |
| Adjusted operating profit | $57.4m | $63.5m | (9.6)% |
| Adjusted operating profit margin | 13.0% | 15.4% | N/A |
| Operating profit / (loss) | $(18.7)m | $31.7m | N/A |
| Adjusted earnings per share | 49.77c | 59.92c | (16.9)% |
| Earnings / (loss) per share | (38.82)c | 19.93c | N/A |
| Adjusted cash conversion rate | 31.0% | 30.5% | N/A |
| Net (cash) / debt | $102.4m | $12.4m | N/A |