Astralis Reports $ 2 Million Loss, Doubles Revenue in 2021 First Financial Report

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The listed Danish esports organization generated net income of DKK 39.23 million ($ 6.24 million), 91.6% more than the business generated in the same period in 2020 ($ 3.26 million).

Astralis also reported a net loss of 12.65 million Danish kroner ($ 2.01 million), compared to what the organization lost in the first half of 2020 ($ 4.8 million) according to the financial report. of the Astralis group for the first half of 2021.

The organization currently has teams in League of Legends, FIFA, and CS: GO, who won four Majors since ELEAGUE Atlanta in 2017. The CS: GO The team generated SEK 29.4 million ($ 4.68 million), or roughly 75 percent of Astralis’ total revenue in the first half of 2021. Astralis Founding Chairman Nikolaj Nyholm, clarified that player sales are not recognized as revenue after someone asked if the transfer of Nicolai “dev1ce” Reedtz to Ninjas in Pajamas in April had a significant impact on the organization’s finances.

The CS: GO Segment spending also increased from DKK 17.9 million ($ 2.23 million) in the first half of 2020 to DKK 34.9 million ($ 5.55 million) in the first half of 2021. League of Legends, on the other hand, generated a net loss of DKK 1.1 million ($ 175,000) and income of DKK 7.8 million ($ 1.24 million).

The FIFA The team generated 2 million Danish kroner ($ 318,000) in revenue and recorded a loss of 0.1 million kroner ($ 16,000). Astralis CEO Anders Hørsholt said Astralis continues to grow despite the coronavirus pandemic, which has affected branded and advertised live esports events and eagerly awaits the impact that Astralis Nexus, its hub of games and entertainment in Copenhagen, will have. The site was opened in June and generated revenue of 0.1 million crowns ($ 16,000) in the remaining 21 days in the first half of 2021, while generating a net loss of 1.1 million crowns. ($ 175,000).

“With the opening of Astralis Nexus, we have taken the first step in establishing ourselves in the broader gaming market,” Hørsholt said in an official statement. “We have maintained and extended important business partnership agreements and at the same time entered into new agreements, including the new main partner, and our franchise niche at LEC was valued by the market at a value of 26.5 million. euros, which is more than 20 million euros above the book value.

In addition to owning an LEC franchise niche, Astralis has similar agreements in CS: GO. The Danish organization signed the Louve agreement in 2020, entering into a long-term partnership with ESL, and is also a partner of BLAST Premier, another major tournament circuit in Counter strike.

Hørsholt said the reduced effects of the coronavirus pandemic will gradually improve Astralis’ business opportunities, but the organization still does not expect significant improvements in the next six months.

“Nonetheless, we plan to continue the positive development and we maintain our expectations for the result for the full year,” said Hørsholt.



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