Together Gaming Solutions plc - Updated Financial Analysis Summary

June 27, 2022

On 27 June 2022, Together Gaming Solutions plc published an updated Financial Analysis Summary. The following are the main highlights of the company’s expected financial performance and position in 2022:

Revenues are anticipated to drop by 38.3% to €2.35 million (2021: €3.81 million) reflecting lower revenue from ‘White Label Operators’ as well as the absence of royalties from the ‘Bethard Brand’ which was sold in May 2021.
EBITDA is expected to be negative at -€0.5 million. Moreover, the company is forecasting a net loss of €3.59 million compared to the net loss of €4.14 million recorded in the 2021 financial year.
In terms of financial position, total assets and total liabilities are expected to drop to €28.7 million (-22%) and €17.8 million (-20%) respectively. In view of the projected drop of 26% in total debt to €14.9 million, the gearing ratio is anticipated to ease to 57.7% (2021: 58.1%) despite the decline in equity base to €10.9 million (2021: €14.5 million).