Revenue EUR 147m, +6% y/y and -2% vs ARCe. 9% y/y growth excluding now divested Whow gamesAdj. Cash-EBITDA EUR 14m vs ARCe EUR 15m. Adj. EBITDA +20% y/y excluding Whow gamesReiterates 2025 guidance, minus Whow games impactAdj. leverage at 2.7x, improving q-o-q but below ARCe at 2.3xQ2 and guidance in line with expectations, as such a credit neutral report

28 Aug 2025
Arctic Credit FLASH: Azerion - Continued growth and margin expansion with guidance reiterated

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Arctic Credit FLASH: Azerion - Continued growth and margin expansion with guidance reiterated
Azerion Group N.V (AZRN:AMS) | 0 0 0.0%
- Published:
28 Aug 2025 -
Author:
Gustav Larsson | Jonathan Andersson -
Pages:
11 -
Revenue EUR 147m, +6% y/y and -2% vs ARCe. 9% y/y growth excluding now divested Whow gamesAdj. Cash-EBITDA EUR 14m vs ARCe EUR 15m. Adj. EBITDA +20% y/y excluding Whow gamesReiterates 2025 guidance, minus Whow games impactAdj. leverage at 2.7x, improving q-o-q but below ARCe at 2.3xQ2 and guidance in line with expectations, as such a credit neutral report