Enad Global 7 (EG7) investor relations material

Executive summary

• Net revenue for Q1 2026 was SEK 345.3 million, down 24.2% year-over-year, mainly due to FX impact and timing of Fireshine Games releases, but underlying business remains resilient.

• Adjusted EBITDA was SEK 51.0 million (margin 14.8%), down 30.8% year-over-year.

• Net profit returned positive at SEK 20.8 million, compared to a loss of SEK 18.5 million last year.

• Operating cash flow increased nearly fivefold year-over-year to SEK 89.1 million.

• 90.9% of group net revenue came from predictable live service and back catalog titles, declining only 1.5% year-over-year.

Financial highlights

• FX-adjusted organic revenue declined 13.1% year-over-year.

• EBIT was SEK 29.2 million, up from SEK -10.1 million year-over-year.

• Diluted EPS improved to SEK 0.24 from -0.21 last year.

• Net debt at quarter-end was SEK -54.9 million, with a cash balance of SEK 292.7 million and SEK 100 million undrawn credit facility.

• Cash flow from investment activities was SEK -173.8 million, mainly due to settlement of contingent consideration and new investments.

Outlook and guidance

• The 2026 release slate is backloaded, with major launches including Far Far West, Palia: Royal Highlands, MechWarrior 5 DLC 8, Aliens: Fireteam Elite 2, and EverQuest Legends.

• Far Far West, released in April, sold over 700,000 units in its first week, expected to positively impact Q2.

• Cost optimization and restructuring expected to support profitability in coming quarters.