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RNS Number : 7813L Keywords Studios PLC 15 September 2021 Keywords Studios PLC ( " Keywords Studios " , " Keywords " , the " Group " ) Interim results for the six months to 30 June 2021 Strong Organic Revenue growth and margin performance Keywords Studios , the international technical and creative services provider to the global video games industry , today announces its Interim results for the six months to 30 June 2021 . Financial Overview : Results for the six months ended 30 June Group revenue Organic Revenue growth ¹ Adjusted EBITDA² Adjusted EBITDA margin EBITDA² 3 Adjusted profit before tax Profit before tax Adjusted earnings per share4 Earnings per share Interim dividend per share 5 Adjusted cash conversion rate Net cash / ( net debt ) H1 2021 € 238.7m + 22.9 % € 50.7m 21.2 % € 40.8m € 39.7m € 21.9m 41.57c 20.86c 0.70p 94.9 % € 84.1m H1 2020 € 173.5m + 8.0 % € 30.8m 17.8 % € 26.2m € 21.7m € 11.1m 25.25c 9.49c 0.00p 15 September 2021 50.2 % € 101.0m % change + 37.6 % + 64.6 % + 55.7 % + 82.9 % + 97.3 % + 64.6 % + 119.8 % Highlights : Strong H1 revenue growth ( + 37.6 % to € 238.7m ) , despite some continued COVID - 19 related operational constraints Organic Revenue up 22.9 % ( H1 2020 : 8.0 % , FY 2020 : 11.7 % ) with all service lines performing well against the comparative period , when a number were held back by COVID - 19 constraints Growth driven by robust demand , supported by a buoyant video games market focused on a return to developing new content following production delays and disruption in 2020 Some ongoing operational disruption as a result of local COVID - 19 measures , but the Group continues to operate flexibly across all service lines to deliver market - leading service to clients Continued growth in profitability and cash generation driving strong balance sheet and liquidity Adjusted EBITDA up 64.6 % to € 50.7m , with margin up 3.4 % pts to 21.2 % ( H1 2020 : 17.8 % ) Strong cash conversion with Adjusted Free Cash Flow of € 37.7m ( H1 2020 : € 10.9m ) and an Adjusted Cash Conversion rate of 94.9 % ( H1 2020 : 50.2 % ) Net cash of € 84.1m ( H1 2020 : € 101.0m , FY 2020 : € 102.9m ) , after € 44.7m net cash spend on acquisitions in H1 , and a € 100m undrawn Revolving Credit Facility Resumed progressive dividend policy Interim dividend of 0.70p per share declared representing an increase of 20.7 % on the 2019 interim dividend ( H1 2020 : 0.00p , H1 2019 : 0.58p ) Continued delivery of our acquisition strategy Four high quality acquisitions completed so far in 2021 for total consideration of up to € 105m