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Growth in the Middle East and the first order for our streaming platform

3rd Quarter 2017

  • First order for Streaming platform by the 18th of september by HomeTV, which means that 24hTech will develop a custom made platform for the Nordic market.
  • The revenues from 24hTech is 0,5 (0) MSEK, mainly from the HomeTV agreement.
  • Mavshack movies sold more than 670.000 subscriptions during Q3 and the company reached the highest level of new customers to our platform ever. (more than 48.000)
  • Revenues was 5.4 MSEK which is 32% higher than same period last year.
  • The cost is down to -7,6 (-7,7) MSEK even though we put in 2,0 (0,2) MSEK of marketing in the Middle East.
  • The result after taxes is -2,5 (-3,3) MSEK.

First 9 months 2017

  • Over 2.1 million sold subscriptions in the Middle East since first of January.
  • Mavshack Movies has new collaborations with Ooredoo in Kuwait, Bahrain and Oman.
  • Revenues are 14 (9,0) MSEK without AmbientMedias numbers, which we ceased to consolidate at the end of 2016.
  • Cost are 11% down.
  • Mavshack Movies extended our agreement of Filipino content for 12 months through TV5.
  • Mavshack Movies' re-integrated with our TelCos to adapt to the new regulations in the Middle East.

CEO update

Increased sales and lower cost

The third quarter was intense and has brought us many positive things to carry on going forward. We got our first external customer for our streaming platform. Our tech-team is working with the platform HomeTV.se with launch during Q4 this year. HomeTV will become a streaming service adapted to the Nordic market, which means that we have the opportunity to show the market our skills in the streaming platform area.

24hTech will construct a custom made platform of the highest possible quality and that we will host and support it for the next 36 months. The agreement is based on fixed fee each month and also a variable fee based on the progress of HomeTV. On top of that we continue to invoice services surrounding the core service on a consultancy basis.

We are currently being hold back by the fact that we have to decline customers our services due to lack of resources. This is something that I am looking in to and plan to adjust during Q4.

Mavshack Movies continue to focus on growth and by that we have increased the marketing activities heavily in the Middle East which is our exclusive market for marketing. We also take the opportunity to evaluate our marketing collaborations to see if we find efficient partners to work with. (For example, lower cost, higher amount of new customers.)

Our marketing campaigns has been successful since we have been able to attract all time high numbers when it comes to new customers. This quarter is the best ever for our company when it comes to attracting new customers!

AmbientMedia continue their fine work within the animation studio with producing film for international customers. That is a competence greatly appreciated on the global market and the company has thorough experience with these kind of productions.

The result for our group is better that the same period last year. The difference in the numbers is based on the fact that we do not consolidate AmbientMedia anymore. If we extract the numbers from AmbientMedia from 2016 we do have an increase in sales with 32% and a reduction of cost. Which is very positive!

Now we are looking forward to the launch of HomeTV on the Swedish market and a good  development of sales and result for Q4!

//Tommy Carlstedt

CEO Mavshack AB (publ) 

Next report

Interim Report 4 for the financial year 2017 will be published on February 23th 2018.

For complete report see attached file.

Stockholm October 27, 2017

Mavshack AB (publ)
Board of Directors

For more information contact:

CEO Tommy Carlstedt Phone: +46 8 124 517 90 or
e-mail: ir@mavshack.com

All reports are available on the company's website www.mavshack.se

This information is information that Mavshack AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.45 CET on October 27th, 2017.

N.B. The English text is an in-house translation. For any difference in the translation the Swedish version will prevail.

About Mavshack AB (publ)

Mavshack AB (publ) invests in companies which focus on digital distribution. The group are 24hTech and Mavshack Movies as fully owned subsidiaries and AmbientMedia as a 50% owned company. Since the year 2007 we help customers simplifying their processes of business by offering full service within platform solutions, streaming technology, direct carrier billing and the latest technology within audio, video and AR-production. Mavshack AB (publ) is listed at Nasdaq First North as MAV. Certified Adviser is Erik Penser Bank. Visit www.mavshack.se for more information

Mavshack AB (publ), Karlavägen 58, 114 49 Stockholm, Telephone: +46 8 124 517 90 VAT nr: 556721-5388

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IR contact

Email: ir@mavshack.com
Telephone: +46 8-124 517 90