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Interim Report , Q2 2021 QUOTE FROM THE CEO " In Q2'21 , Stillfront delivered net revenues of 1,382 MSEK , up 16 percent year - on - year , with a strong margin of 35 % , and record - level cash flows from operations . The game portfolio excluding studios acquired over the recent 12 months showed an organic decline in daily and monthly active users , due to an exceptional inflow of new users in Q2 last year , driven by the Covid - 19 pandemic , while studios acquired during the recent 12 months continued to perform well in the second quarter , with Candywriter , Sandbox Interactive and Moonfrog Labs all delivering above our expectations . Due to the extraordinary circumstances , with the mobile advertising market going through changes , our new product portfolio mix , and the tough comparison numbers from the pandemic last year , as well as seasonality effects , we have decided to provide an indicative guidance for Q3'21 where we expect total net revenue to amount to between 1,275 and 1,325 MSEK with an adjusted EBIT of between 375 and 415 MSEK . " Jörgen Larsson , CEO , Stillfront FINANCIAL HIGHLIGHTS Q2 Net revenue of 1,382 ( 1,192 ) MSEK , an increase of 16 percent compared to the second quarter of 2020 , of which -17 ( 22 ) percent was organic EBIT of 289 ( 336 ) MSEK , a decrease of 14 percent Adjusted EBIT of 477 ( 463 ) MSEK , an increase of 3 percent , Adjusted EBIT margin of 35 ( 39 ) percent STILLFRONT GROUP Items affecting comparability impacting EBIT amounted to -25 ( -33 ) MSEK , mainly driven by costs for the listing change and costs related to the acquisition of Game Labs . Amortization of PPA - items amounted to 163 ( -94 ) MSEK KEY FIGURES MSEK Bookings Deferred revenue Net revenue EBIT Adjusted EBIT Adjusted EBIT margin , % EBITDA Adjusted EBITDA Adjusted EBITDA margin , % Profit before tax Net result Number of Employees Adjusted Leverage Ratio , pro forma , x 2021 2020 Apr - Jun Apr - Jun 1,377 1,209 -17 1,192 5 1,382 289 336 463 39 477 510 43 251 188 808 0.4 477 35 526 551 40 217 149 1,230 1.6 Financial net of -72 ( -85 ) MSEK Net result of 149 ( 188 ) MSEK Net result per share undiluted of 0.41 ( 0.57 ) SEK . Net result per share diluted of 0.41 ( 0.57 ) SEK Net debt of 3,584 ( 665 ) MSEK and adjusted leverage ratio , pro forma of 1.6x ( 0.4x ) Cash position of 850 MSEK and 2,605 MSEK of undrawn credit facilities INDICATIVE GUIDANCE FOR Q3 2021 * Net revenue 1,275-1,325 MSEK Adjusted EBIT 375-415 MSEK 2020 Jan - Jun Jan - Jun 2,690 1,894 -11 1,883 442 676 36 681 765 41 353 264 808 0.4 2021 12 2,702 542 909 34 989 1,049 39 426 298 1,230 1.6 Last 12 months 4,760 49 4,809 1,093 1,727 36 1,860 1,981 41 872 614 1,230 1.6 2020 Jan - Dec 3,964 27 3,991 993 1,493 37 1,553 1,697 43 799 581 1,032 0.9 * The assumed exchange rates used for Q3 YTD is 8.4378 for USD / SEK and 10.1389 for EUR / SEK , which is the average YTD rate as of July 2021 closing .