Open main menu
Home
Random
Donate
Recent changes
Special pages
Community portal
Preferences
About Stockhub
Disclaimers
Search
User menu
Talk
Contributions
Create account
Log in
Editing
Aspire Global
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
===Balance sheet: Capital light and limited net debt=== AG has a robust balance sheet with a small net debt position of β¬5.2m at the end of FY20, excluding client cash (β¬6.0m) and IFRS 16 lease liabilities (β¬2.5m). Due to the nature of AGβs business and its recent acquisitions, the main non-current assets on the balance sheet are intangible assets (β¬38.5m) and goodwill (β¬28.9m), a total of β¬67.4m from a total asset base of β¬144.3m. The other significant non-current asset is a related party loan from NeoGames, which shares two board directors with AG, that totalled β¬14.5m at the end of FY20. The loan could be worth up to β¬18.0m depending on exchange rates when it is due to be repaid to AG in March 2022, including the further interest accrual of β¬3.5m. Edison Investment Research conservatively, includes a lower estimated interest accrual of c β¬3m. When repaid, the funds will be used to replenish AGβs cash balances, which in the interim, along with one-year c β¬10m bridging loans from major shareholders, are funding the April 2021 β¬27.9m bond maturity. The main current assets at the end of FY20 were cash β¬28.7m (including client cash of β¬6.0m, which Edison Investment Research excludes from our definition of AGβs cash position) and trade receivables of β¬13.2m, which are typically money owed by payment processors that remit funds to AG on behalf of the players. At the end of FY20, the most significant near-term liability was the April 21 bond maturity and accrued interest of β¬27.9m, which is being funded as highlighted above. In addition, there was total deferred and contingent consideration for recent acquisitions with repayment dues of β¬4.8m in FY21 and β¬17.7m in FY23, shown in the cash flow above.
Summary:
Please note that all contributions to Stockhub may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
Stockhub:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)