Stillfront Group AB (publ) (STLFF) Q2 2026 Earnings Call Transcript

Alexis Bonte Group Chief Executive Officer, President & Interim EVP of BA MENA/APAC Good morning, and welcome to Stillfront's Q2 presentation. I am Alexis Bonte, and I'm joined by our CFO, Emily Villate today. Before we go into financials, I will start by taking you through the key franchise in the quarter, including the progress that we've made and key developments. Looking at the second quarter, we continue to make progress in building a more focused and franchise-led Stillfront. Net revenue amounted to SEK 1.323 billion, corresponding to an organic decline of 1.3%. This means that organic growth remained broadly stable despite the significant lower level of user acquisition investments compared with the first quarter. Profitability strengthened clearly in the quarter. Adjusted EBITDAC increased to SEK 387 million. That corresponds to a margin of 29%, which is up from 23% in Q1. This was mainly driven by the normalization of launch investments in Big Farm: Homestead as well as a broader reduction in user acquisition costs. We also saw continued double-digit growth in our key franchises, which grew organically by 10% in the quarter. This was the second consecutive quarter of double-digit organic growth in the key franchises. And this is a statement to our strategy to focus on our key franchises and the fact that, that strategy is working. Finally, cash generation was strong. Free cash flow amounted to SEK 519 million in the quarter, supported by the underlying businesses as well as the upfront settlement