MGI – Media and Games Invest SE Reports Record Revenue and EBITDA driven by Strong Organic Growth of 21% in Q1 2024 – Publishing FY 2024 Guidance

Net Revenues increased by 20% to 82.5 (68.8) €m

  • 21% fx adjusted Organic Revenue Growth (Q1’23: 1%)
  • 30% increase in total number of software clients to 2,410 (Q1’23: 1,847)
  • 20% increase in ad impressions to 199 billion (Q1’23: 166 billion)

Adjusted EBITDA increased by 16% to 22.0 (19.1) €m

  • Strong EBITDA growth following strong organic revenue growth
  • Cost control leading to reduced personnel expenses and lower capex
  • Improvement of operating cashflow by 17.8 to 9.1 (Q1’23: -8.7) €m

Financial Guidance 2024 with double digit revenue and EBITDA growth

  • 350-370 €m Revenues (2023: 322.0 €m)
  • 100-110 €m adjusted EBITDA (2023: 95.2 €m)
  • Strong revenue and EBITDA growth entirely organic
  • Guidance includes investments into additional organic growth

May 07, 2024, 8 am CEST - Media and Games Invest SE ("MGI" or the "Company", ISIN: SE0018538068; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) publishes its Interim Report Q1 2024.


A Word from THE CEO Remco Westermann

“I am delighted to announce record-breaking revenues of €82m based on our strong organic growth of 21% in the first quarter of 2024. Driven by the higher revenues, we achieved a remarkable profitability with adj. EBITDA of €22m and an adjusted EBITDA margin of 27%. This achievement reflects our unwavering commitment to innovation and making media better. In Q1 2024, our number of software clients increased by 30% to 2,410 while the number of ad impressions increased by 20% to 200 billion. Based on customer growth, our strong and innovative product portfolio as well as the recovering overall advertising market, we expect continued strong performance in the coming quarters. Looking ahead we expect meaningful double-digit organic growth for FY 2024 and guide on revenues of €350-370m with an adjusted EBITDA of €100-110m driven by our investments and the overall recovery of the advertising market”, commented Remco Westermann, CEO of MGI Group.

The Interim Report Q1 2024 is available on MGI’s corporate website at in the Investor Relations section.

Invitation to investor presentation

MGI invites investors to participate in the presentation of the Q1 2024 results by Remco Westermann (CEO) and Paul Echt (CFO) on Tuesday May 07, 2024 at 13:00 CET. The presentation will be held in English and will also be available on-demand on the Company’s website

To participate via webcast, please visit:

To participate via phone and ask questions, please register at the following link:

Responsible parties

This press release contains inside information that MGI - Media and Games Invest SE is required to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out below, at the time stated by MGI's news distributor EQS Newswire upon publication of this press release.

For further information, please contact:

Sören Barz
Head of Investor Relations
+49 170 376 9571,

About MGI - Media and Games Invest SE

MGI - Media and Games Invest SE (MGI) operates a fast-growing, profitable ad-software platform that matches global advertiser demand with publisher ad-supply while improving results through first party data from own games. MGI’s main operational presence is in North America and Europe. Through investments in organic growth and innovation, as well as targeted M&A, MGI has built a one-stop shop for programmatic advertising, enabling companies to buy and sell ad space across all digital devices (mobile apps, web, connected TV and digital out of home), with the mission to make advertising better. MGI is registered as Societas Europaea in Sweden (registration number 517100-0143) and its shares are listed on Nasdaq First North Premier Growth Market in Stockholm and in the Scale segment of the Frankfurt Stock Exchange. The Company has two secured bonds that are listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market. The Company's certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB;

Forward-looking statements

This release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this release, including the pro-forma financial figures addressed therein, are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements and pro-forma financial numbers are reasonable it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this release (including the pro-forma financial figures) are free from errors and readers of this release should not place undue reliance on the forward-looking statements in this release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this release, unless it is so required by law or applicable stock exchange rules.





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About Verve Group SE

Verve (Ticker: VER) is a fast-growing, profitable, digital media company that provides AI-driven ad-software solutions. Verve matches global advertiser demand with publisher ad-supply, enhancing results through first-party data from its own content. Aligned with our mission, “Let’s make media better,” the company focuses on enabling better outcomes for brands, agencies, and publishers with responsible advertising solutions, with an emphasis on emerging media channels. Verve’s main operational presence is in North America and Europe, and it is registered as a Societas Europaea in Sweden (registration number 517100-0143). Its shares are listed on the Nasdaq First North Premier Growth Market in Stockholm and the Scale segment of the Frankfurt Stock Exchange. The company has three secured bonds listed on Nasdaq Stockholm and the Frankfurt Stock Exchange Open Market. Verve's certified advisor on the Nasdaq First North Premier Growth Market is FNCA Sweden AB; contact info:


Stureplan 6 114 35 Stockholm Sweden