G5:s vd intervjuad

Orsaken till G5:s kursrusning var, som jag nämnde i min veckouppdatering, förmodligen en intervju av bolagets vd. Hela den långa intervju kan läsas på Realtids hemsida. Artikeln tar upp allt från bolagets historia till framtida prognoser och är således läsvärd både för befintliga aktieägare och för de som inte läst på om bolaget tidigare. Nedan tar jag upp några delar jag fann extra intressanta.

Bolagets vd Vlad Suglobov gjorde några uttalanden om de befintliga prognoserna, och bekräftade också att vi kan förvänta oss en prognosuppdatering för helåret i början av januari:

"In order to make 2010 forecast reality, we need to make less revenue in Q4 2010 than we made in Q3 2010! And our revenue in Q3 2010 was roughly double the revenue we made in Q1 2010. So the 2010 forecast is quite conservative. 

We can achieve it by continuing to do what we're doing - releasing more great games.

As for 2011, consider this – the management aims to release 80 games in 2011, compared to 30 releases in 2010. This is almost three times as many games as we released in 2010. 

[...]

Our revenue grows every quarter, so as we move into 2011 and start comparing 2011 results to 2010 results, our forecast for 2011 is going to look very realistic."

Vlad kommenterade också bolagets aktiekurs vilket åtminstone för mig var lite oväntat. Jag tycker inte riktigt att det är en vd:s roll att uttala sig om sådana saker, även om han mestadels för ett teoretiskt resonemang:

"Our stock price at the current level of around 10 Kr is at roughly 10 P/E to forecasted earnings for 2010, and at 7 P/E to forecasted earnings for 2011. During 2010, we had to raise our forecast three times, and we have aggressive plans for 2011 – our goal is to release 80 games compared to 30 games in 2010. Personally, I think that current level is very attractive, and I recently bought more shares at current valuation – I'm investing in G5's vision. Assuming the forecast for 2011 is going to be delivered, and applying 15-20 P/E to projected earnings – which would make sense based on continuous high growth which is likely to continue, that's 20-30 Kr price range for 2011."

På frågan om hur stor sannolikheten är för att G5 ska bli uppköpt svarade Vlad så här:

"As one of the leading companies in the field, with the largest portfolio of casual games on the App Store, profitable, cash positive, with world-class development team and unique cross-platform technology - we are a ready-made monetization machine for casual games, so I'm sure a number of big companies would be interested to acquire or merge with G5 at some point in time. However, in 2010 G5 is showing the growth rate – in terms of revenue, operating result, and capitalization - which is impossible for larger companies. So from shareholder perspective, it is better for G5 to stay independent company as long as we can sustain such high growth rate. We are avoiding such discussions at the moment, although we can feel certain interest from other companies."

Mina citat är bara en liten del av artikeln, det finns mycket mer att läsa via länken ovan. Jag kan dock inte låta bli att klippa in artikelns sista fråga och svar. Den är lite mer i Realtids och Ian Hammars stil:

Investors are a bit afraid of Russia and the Russian mafia. One straight question: Have you ever been convicted for any crime? What crime? When? Where? Or has any direct or indirect owners to G5, or board members done anything criminal? Or do they have any connections to criminals like the Russian mafia? Does the Russian mafia have any influence over G5? Have you noticed the influence of the Russian mafia somehow? How? When? Where? Is there any reason for Swedish investors to worry about the Russian mafia or criminality around G5?

"Seriously? Is it a joke? We're making family-friendly games, Ian. We're programmers, game designers – nerds (with the exception of our Business Development Director Julia – she's not a nerd). I haven’t seen a single Swedish investor (and I've seen some since 2006, doing roadshows all around Sweden and meeting people in person) who would mention that he's afraid of Russian mafia and would ask me if I'm a part of Russian mafia. You're the first person who's asking. But I understand the concern – I've seen ”The girl who played with fire” recently, too, it's scary indeed. I had to pay a couple of parking fines in my life, but otherwise the answer is ”no” to all your straight questions. But tell me, do you really believe that I would answer ”yes” if I was a part of mafia??"