starbreeze investor presentation...2018/05/31 · starbreeze investor presentation carnegie nordic...
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STARBREEZEinvestor PresentationCarnegie Nordic Gaming Seminar, 31 May 2018
2Slide /
Digital93%
Retail 7%
San Francisco Los Angeles
Stockholm (HQ)Brussels
Barcelona
Paris Luxembourg
Bangalore & Dehradun
Starbreeze today
§ First listed gaming company in Northern Europe founded in 1998§ Independent developer and publisher of PC and console games
and VR products§Net sales of EUR 35m§ Listed on Nasdaq Stockholm – Market cap EUR 415m
Office locations
Net Sales splits
StarbreezeGames
34%
Publishing61%
Other 5%
PC60%
Console40%
strong ips
620 employees
Psychonauts 2
3Slide /
Action / Co-op
Release datesAugust 2013 (PC)June 2015 (Console)
Case study: payday
UNITS SOLD
>16,000,000PAYDAY 2 IN GROSS SALES
>200M EURSTEAM COMMUNITY MEMBERS
5,600,000
DLCS AND UPDATES
>170
GAAS sales trend compared to a typical game
0
20 000
40 000
60 000
80 000
100 000
PAYDAY 2 Typical game
Crimefestcommunity
event
Spring break community event
Steam summer sale
The Payday success
-
Games as a service model(GAAS)
Community
Marketing
Y
DLCs
2Free game
updates
T
Events
r
Key INSIGHTS
4Slide /
Gameplay firstand Replayability
Community –it’s not about you,
it’s about themGlobal relevancy
Strong brand long term
5Slide /
STARBREEZE
Case study: Dead by Daylight
Asymmetric horror
Release datesJune 2016 (PC)June 2017 (Console)
UNITS SOLD
>3,000,000DBD IN GROSS SALES
EUR 40mSTEAM COMMUNITY MEMBERS
>800,000
DLCS AND UPDATES
>10
Own games –on our home turf
§ co-operative § 1st person shooteR§ Gameplay first§ Replayability§ FuN
Publishing –Expanding market
§ Expanding genres§ Strong IP § And/or top ranked
studio/creator
6Slide /
Building a focused catalogue
7Slide /
Building strong IP:s
9Slide /
STARBREEZE
Global mindset
Games should appeal to a global audience
Strong distribution partners in place for Europe and the US
AdvantagesLarger addressable marketGeographic diversification
Expansion to the Asian market
10Slide /
For all platforms
VR§ high potential market
§ 9 titles available today
§ PAYDAY 2 for VR largest vrgame on the market released March 2018
PC and Console§ Main platforms§ Simultaneous development
MOBILE§ Successful IP:s also to be
developed for mobile
§ Drive interest for games
§ PAYDAY CrimeWar to be released in 2018
10Slide /
11Slide /
From one-trick pony to A gaming powerhouse
2-3 ownlarge titles
3-5 largerpublishing titles
Aim for Market leadership
12Slide / TIME
PAYDAY 3
PAYDAY 3
10 Crowns
Production Live game
Current and Future Revenuestreams
$
Illustrative image of current and future service lines
13Slide /
accelerating growth
35
~200 (financial target)
2017 2020E
Current revenue generators
System Shock 3
Revenue generators 2020
Net sales (EURm)
20 Slide /
geminose
Starbreezeown development
a game whereMagic, Music and Danceis at the heartofthe GeminoseSuperstars world
Own ip
Global reach
premiering exclusivelyfor the Nintendo Switch
14Slide /
Our future stars
15Slide /
STARBREEZE
Overkill’s the walking dead
Starbreeze own development
Narrative driven co-operative 1st person shooteR
Based on the smash-hit graphic novel series by Robert Kirkman
One of the worlds most populartv series
Exclusive rights for all platforms/markets
16Slide /
Project crossfire
Starbreeze own production
Premium co-operative 1st person shooteR
Based on smilegate’s mega ipcrossfire with 650M players
WesterN version of the game
Multi platform/Global reach
17Slide /
geminose
Starbreeze own development
a game where Magic, Music and Dance is at the heart of the Geminose Superstars world
Own ip
Global reach
premiering exclusively for the Nintendo Switch
20Slide /
geminose
Starbreeze own development
a game where Magic, Music and Dance is at the heart of the Geminose Superstars world
Own ip
Global reach
premiering exclusively for the Nintendo Switch
18Slide /
psychonauts 2
Publishing title Signed in 2017
third-person action/adventure
Creator: tim Schafer
Studio: Double Fine Productions
Pc/Global reach
Investment of 8 MUSD
19Slide /
STARBREEZE
System shock 3
Signed in 2017
A SCI-FI RPG FPS game with INTRIGUING CHARACTERS
Creator: Warren Spector
Studio: Otherside Entertainment
PC/global reach
Investment of 12 mUSD
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STARBREEZE
10 crowns
Signed in 2018
an epic-scale turn-basedstrategy game
Creators behind Civilization
Studio: Mohawk Games
PC/global reach
Investment of 7.7 mUSD
21Slide /
STARBREEZE
Payday 3
Starbreeze own production
co-operative 1st person shooteR
Own ip
Multi platform/Global reach
22Slide /
Virtual reality
23Slide /
155
307
457
616
825
31
55
80
105
134
41
73
110
146
187
14
24
35
45
55
0
200
400
600
800
1 000
1 200
1 400
2017 2018 2019 2020 2021
Asia-Pacific Europe North America Other
global revenues reaching 1.2 billion usd in 2021
Source: Location-Based VR entertainment Market Report, 2017-07-12, Greenlight Insights
LBE global VR Revenue Forecast 2017-2021 (MUSD)
>4x increase
24Slide /
Vr strategy – become A Leader for premium content
StarVR
Time
Profit
Investments to enable leadership for premium content
Illustrative
Location-based vr centers
Premium Content
STOR M
25Slide /
Starvrto unlock b2b vrverticals
StarVR joint venture
IP rights
R&D
Reference design
R&D
Financing
Production
Sales
Marketing
Support and aftermarket
Listed on Taipei Exchange, market cap 150 MEUR
Aim for IPO on Taiwain Exchange
Next generation headset reach market 2018
Starbreeze owns and maintains core IPR and trademarks
Ownership 33% 67%
26Slide /
Vr strategy – become A Leader for premium content
StarVR
Time
Profit
Investments to enable leadership for premium content
Illustrative
Location-based vr centers
Premium Content
STOR M
28Slide /
Vr strategy – become A Leader for premium content
StarVR
Time
Profit
Investments to enable leadership for premium content
Illustrative
Location-based vr centers
Premium Content
STOR M
29Slide /
Financial overview
30Slide /
Founded3
14 1621
34 36
-2
118
58
1998 2012 2013 2014 2015 2016 2017
Net sales (EURm) EBITDA (EURm)
CAGR: ~28%
WORK FOR HIRE OWN GAMES DEVELOPMENT PUBLISHING
Starbreeze evolution
PHYSICAL DISTRIBUTION, FEW PLATFORMS DIGITAL DISTRIBUTION, MULTI-PLATFORM VR
31Slide /
Increased investments driven by initiativesInvestments in own development and publishing 2015–2017
78154
23217
40
180
95
195
412
44%
56%
113%
2015 2016 2017Publishing projects (SEKm)Own games and technology (SEKm)Total investments in game and technology development share of net sales
32Slide /
net sales development by title Net sales by title per quarter, 2013 –2018 PAYDAY 2 – BASE GAME VS DLC sales from PC from launch
payday~85–100% payday ~40–60%
EURm
9
43
5
3
5 5
7
5 54
10 10 10
6
12
8
1011
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
PAYDAY 2 Dead by Daylight RAID: World War II Other
96%
54%
44%46%
23%21%
4%
46%
56%54%
77%79%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2013 2014 2015 2016 2017 2018
Base game DLC
33Slide /
experienced management team
Selectedworkexperience
Years ofrelevant experience 20 years
Bo Andersson KlintCEO
12 years
Sebastian AhlskogCFO
13 years
SaülGascon BarbaGlobal Development Director
10 years
AlmirListoGlobal Brand Director & Producer
20 years
Stéphane DecroixCDO
33 years
Mikael NermarkCOO(CEO 2011–2013)
18 years
MaevaSponbergsEVP of Communications
20 years
Ann Charlotte SvenssonHead of Investor Relations and Corporate Communications
13 years
Johanna WiklandGlobal Human Resources Director
34Slide /
THANKS!The Starbreeze team
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