Astralis releases financial report for the first half of 2022

Danish esports organization Astralis has released its financial report for the first half of 2022, reporting a total revenue of DKK 44.9 million. With continued growth in revenue and a focus on costs as the company invested in new business lines, the results for the reporting period confirm the company's ambitious plans and expectations for a positive operating result for the year, the club said.

Anders Hersholt, CEO of Astralis: "The result for the reporting period confirms our business plan and our expectations with continued growth and increased revenue streams across all of our digital and physical business areas. The investment in our media business is accompanied by the growth of the retail business at Astralis Nexus, which has begun to show its potential in both B2C and B2B, we are very pleased that we can maintain our ambitious expectations for a positive EBITDA result for the year."

The main indicators from the organization's report:

• Total revenue for the first half of 2022 was DKK 44.9 million. The club recorded a 14% increase in revenue compared to the same period last year.
• EBITDA for the first half of 2022 was -0.9 million DKK. An improvement of DKK 2.8 million was recorded compared to the same period last year.
• The loss for the first half of 2022 was DKK 6.3 million. The organization noted an increase in losses of DKK 6.4 million compared to the same period last year.

In its shareholder letter, the organization explained that league partnerships and ongoing gaming franchise positions have helped develop Astralis through increased revenue and higher market demands for franchise rights. In addition, Astralis maintains expectations for the full-year result with expected turnover of DKK 85 to 90 million and EBITDA of DKK 0 to +5 million.