Playtika releases Q4 and FY2023 reports; annual revenue falls to $2.6bn

Updated:2024-03-21 14:35    Views:182

Playtika has released its Q4 and FY2023 reports.

The revenue for the final quarter was $637.9m, which marked a 1% increase from the same period last year.

However, the full year’s revenue dropped 2% to $2.6bn.

The Direct-to-Customer (DTC) revenue increased for both reports though; the Q4 amount of $161.6m is a 0.4% increase from the month before and an 8% increase annually; while the FY2023 amount of $639.4m is a 5% increase from FY2022.

Net income faced a similar fate to the revenue.

For Q4, the net income amount was $37.3m, a 2% decrease from the month previous and a 57% drop from the same month the year prior.

As for the FY2023, net income also saw a dip - a 15% drop down to $235m.

Adjusted EBITDA was down and up, respectively. The Q4 amount of $188.9m was a 2% decrease sequentially and a 7% dip annually; although the FY2023 amount of $832.2m was a 3% increase from before.

Robert Antokol, Playtika CEO, said: “In the past year, we’ve honed our focus on efficiency and streamlined our operations,Casino games adapting to evolving industry dynamics in mobile gaming.

“Now, with a solid foundation, 2024 marks our shift towards reinvestment – pursuing M&A opportunities with a strategic intent of capital deployment.”

Also in the report, Playtika announced that it would deploy $600m-$1.2bn of capital to M&A over the next few years.

Craig Abrahams, Playtika President and CFO, said: “With the introduction of our new capital allocation framework, we’re taking a multi-faceted approach to maximise shareholder value.

“We believe that we are well positioned to lead consolidation in the mobile gaming industry.”

Another key point of the report was the strategic alternatives offered by the company.

Playtika explained: “Due to ongoing uncertainty in Israel and Ukraine, the Board of Directors has decided to pause the company’s evaluation of strategic alternatives.”

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