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Regulatory press release

Maximum Entertainment AB (publ) Publishes Annual Report for 2024 with adverse audit report and outlines adjustments made to the figures disclosed in the company’s year-end report Q4 2024

Maximum Entertainment
Download the release

Stockholm, Sweden (21 May, 2025) – Maximum Entertainment (Nasdaq: MAXENT B) today published its annual report for 2024 on the company’s website. In the audit report, the auditor recommends that discharge from liability not be granted to the former members of the Board of Directors and the former CEO, Christina Seelye, for the financial year 2024. Furthermore, the auditor recommends that the current members of the Board of Directors and the current CEO, Philippe Cohen, be granted discharge from liability for the financial year 2024. The report also outlines adjustments made to figures previously published in the company’s year-end report Q4 2024.

Below is an excerpt from the audit report. The complete audit report can be found on pages 66 and onwards in the annual report, which is attached to this press release.

“Statements and statements with dissenting opinions
In addition to our audit of the annual accounts, we have also performed an audit of the board of directors' and CEO's administration of Maximum Entertainment AB for the year 2024 and of the proposed appropriations of the company's profit or loss.

We recommend that the Annual General Meeting treat the profit as proposed in the administration report.

As a result of the circumstances described in the Basis for Statements section, we oppose the Annual General Meeting granting the Board members Stefan Lindberg (acting until 4 June 2024), Stefan Lampinen (acting until 4 June 2024), David Eriksson (acting until 4 June 2024), Petter Hjertstedt (acting until 9 September 2024) and Karla Martin (acting until 6 November 2024) discharge from liability for the financial year. We also oppose the Annual General Meeting granting the CEO, also a member of the Board, Christina Seelye discharge from liability (acting as CEO until 30 September 2024 and as a member of the Board until 6 November 2024).

We recommend that the Annual General Meeting grants the board members Torgny Hellström (active from September 9, 2024), Robert Blake (active from November 6, 2024), Bart Reefman (active from June 4, 2024) and Jan Benjaminsson (active from September 9, 2024) discharge from liability for the financial year.”

As part of the audit process and the preparation of the annual accounts, adjustments have been made to figures disclosed in the company’s year-end report Q4 2024. These adjustments are shown in the table below.

Adjustment of consolidated financial statements in the annual report 2024 compared to the year-end report Q4 2024

Impact on Income statement
- Group (EUR thousand)
NoteQ4 2024 reportAnnual reportAdjustment
Profit before income tax
-25,982-25,9811
Deferred income taxA)3,707-133-3,840
Current income tax
-1,206-1,2060
Profit for the period
-23,481-27,320-3,839

Note A - Adjustment of deferred income tax related to tax losses in US subsidiaries

In the fourth quarter 2024, a deferred tax income EUR 3,840 thousand was recognised, related to carry forward tax losses in the US subsidiaries. Given the current financial situation, we have adjusted this amount to zero in the annual report 2024.

Impact on Financial Position
- Group (EUR thousand)
NoteQ4 2024 reportAnnual reportAdjustment
Tangible and Intangible non-current assets
82,58682,5871
Other non-current receivables
44440
Deferred tax assetsB)4,508519-3,989
Current assets
30,36130,3610
Total Assets
117,499113,511-3,988
EquityB)36,08732,098-3,989
Non-current liabiliities
6,7366,7360
Current liabilities
74,67674,6760
Total Equity and Liabilities
117,499113,511-3,988

Note B – Adjustment of deferred income tax receivable related to tax losses in US subsidiaries

Adjustment of deferred tax income -3,840
FX impact -149
Total impact on equity -3,989

This information is information that Maximum Entertainment is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-21 07:30 CEST.

About Maximum Entertainment


Maximum Entertainment is a global entertainment company dedicated to crafting indie to AA video game experiences through original content and licensed partnerships. A fully integrated group with a broad portfolio of content, the company emphasizes collaboration and inclusivity in its partnerships to produce the highest level of interactive entertainment. With more than 300 titles in its catalog, Maximum Entertainment has joined forces with talented creators and renowned franchises around the globe to deliver magic to the gamer in everyone. Maximum Entertainment employs experienced professionals across the entire value chain of video games including development, publishing, transmedia, sales, and operations. Visit Maximum Entertainment at www.maximument.com. 

For more information, please contact:


Torgny Hellström, Chairman of the Board
E-mail: chairman@maximument.com | Tel: +46 8 490 094 98

For more information regarding the company and investments, please contact ir@maximument.com.

Certified Adviser
Augment Partners AB, info@augment.se, tel +46 (0) 8 604 22 55, is Maximum Entertainment AB’s Certified Adviser.

Attachments


ME 2024 Annual Report ENG with AR

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