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).