Danish esports organisation Astralis has announced a loss of DKK 6.3m (~£720,000) for the first half of 2022, ending June 30th 2022.
This is an improvement from the organisation’s DKK 12.6m (~£1.44m) loss from the same period last year.
For H1 2022, Astralis reported revenues of DKK 44.9m (~£5.15m), an increase of DKK 5.6m (~£642,000) from H1 2021. The higher revenues have been attributed to Astralis Nexus and Pixel.tv, as well as increased ‘league-related revenue’.
In its letter to shareholders, the organisation explained that league partnerships and permanent franchise positions in the titles helped Astralis’ development through increased revenue and higher market demands for franchise rights.
Despite revenue increases, the organisation did confirm that sponsorship and merchandise sales were DKK 2m (~£229,500) lower than H1 2022. Moreover, the organisation highlighted that the growth of its esports division’s net revenue in League of Legends and FIFA was lower than H1 2021. Still, the organisation did record a CS:GO EBITDA of DKK 5m (~£573,000) for H1 2022, an improvement of DKK 10.5m (~£1.2m).
In February, Astralis acquired a majority stake in regional production house and broadcaster Pixel.tv. The broadcaster recorded revenues of DKK 1.2m (~£137,000) in H1 2022.
In the financial report, Astralis A/S CEO Anders Hørsholt stated that the half-year results reaffirm the organisation’s expectations to achieve a positive EBITDA of DKK 0-5m for 2022. Currently, the organisation’s EBITDA for H2 22 is DKK 857,000 (~£98,000).
Hørsholt commented: “The result for the period reaffirms our business plan and our expectations through continued growth and increased revenue streams across all our digital and physical business areas.
“Only three years after the company’s establishment, today we employ more than 80 people in Denmark and in the US, and I am incredibly proud of how our organisation continues to deliver and develop our business.”