Another year of stellar growth supported by successful product launches
Copenhagen, Denmark – 22 April 2021 – SteelSeries, a global leader in premium gaming peripherals, today published its Annual Report for the fiscal year 2020.
• Group revenue increased by 62% to DKK 2.020 million
• Americas grew 87%, constituting 47% of total revenue
• EMEA grew 48%, constituting 39% of total revenue
• APAC grew 40%, constituting 14% of total revenue
• Revenue from Direct-to-Consumer sales (through our own websites), was 12% of total revenue - growing by 181%
• Sales related to SteelSeries audio products accounted for 62% of total revenue, whereas revenue from other sources, including mice, keyboards, mousepads, performance accessories and software accounted for 38%
• EBITDA (adjusted for special items) increased 47% to DKK 264 million
• Cash flow from operating activities was DKK 416 million
Ehtisham Rabbani, CEO of SteelSeries, said: “I am very pleased with our results in 2020, where successful new product launches supported our growth. We have now more than doubled our business within the last two years and have had top-line average growth rates of more than 40% for the last four years. As importantly, our growth has been profitable with an approximate 60% increase in earnings per year for the same four-year period. In addition to strengthening our existing business, we successfully completed acquisitions of two high quality companies, A-Volute and KontrolFreek.”
In 2020, according to Newzoo’s Global Games Market Report, there were an estimated 2.8 billion gamers worldwide, growing consistently at around 7% annually since 2015. Gaming has indeed become mainstream and the conventional idea of gaming only being for young men is a thing of the past. Today, two out of three new gamers are female, more than half are aged 45+ and four of every five U.S. consumers have played a video game within in the past six months.
The total gaming market is estimated to have surpassed USD 200bn in 2020, fueled by the rise of multiplayer games, cross platform gaming, free- to-play titles and the increasing popularity of esports viewership.
According to Newzoo, the peripherals market is estimated to be around USD 8 billion in 2020, having grown by more than 25% annually since 2017. This is about twice the growth rate of global games revenue (in the same period).
Please read the full annual report here: 2020 Annual Report
About SteelSeries SteelSeries is a global leader in premium gaming peripherals focused on quality, innovation, and functionality. The company was founded in Denmark in 2001 and is one of the world's leading gaming brands, with products ideally positioned in the premium part of the global gaming market.
The group is controlled by the private equity fund Axcel.
For further information, please contact:
Steen Juul Jensen, Impact Partners
Phone: +45 2873 9081
Copenhagen, Denmark, April 22, 2021