Nitro Games Oyj: Interim report January – June 2017

The interim period January – June 2017

  • REVENUES: Revenues increased by 29% to 787.9 KEUR (609.9)
  • EBITDA: EBITDA amounted to -620,9 KEUR (-109.6)
  • EBIT: Operating result before financial items amounted to -980,8 KEUR (-365,1)
  • NET PROFIT: The net result for the period amounted to -1 096,3 KEUR (-372,0)
  • As of June 30, cash and cash equivalents amounted to 1 210,1 KEUR

April – June 2017

  • REVENUES: Revenues increased 36 percent to 499,3 KEUR (366,3)
  • EBITDA: EBITDA amounted to -485,8 KEUR (EUR 0,0)
  • EBIT: Operating result before financial items amounted to -665,7 KEUR (-127,6KEUR)
  • NET PROFIT: The net result for the period amounted to -690,1 KEUR (-129,4KEUR)

SIGNIFICANT events during the interim period

  • On June 16th Nitro Games successfully listed its shares in an IPO at Nasdaq First North Stockholm. One-off costs related to the IPO amounted to 319 KEUR.
  • First self-published mobile game Medals of War was soft launched in Sweden and in the Netherlands.
  • New mobile game production deal with estimated value of 1.1 million EUR with Wargaming was announced.

SIGNIFICANT events after the interim period

  • Medals of War was launched in Ireland and in Philippines
  • Company received a positive decision on funding from Tekes to support NG Platform development.

Report highlights

”It’s been a strong first half of 2017 for us. The execution of our new strategy is moving forward very well. These 3 key things summarize the H1 for us:

  1.      Nitro Games shares were listed on Nasdaq First North Stockholm market place June 16th and therefore we were able to secure the funds we need to start our self-publishing operations.
  2.      We brought Medals of War to first markets. We’re off to a good start with our self-publishing operations as the game was soft launched in Sweden and the Netherlands during the interim period.
  3.      We’ve seen strong growth in our business where we offer our services to 3rd parties, which has resulted in growth in revenue.

These 3 things combined mean that we’re in strong position moving forward to the second half of 2017.”, says Jussi Tähtinen, CEO of Nitro Games. 

For more information:

CEO Jussi Tähtinen

Phone: +358 44 388 1071

Email: jussi@nitrogames.com

CEO is available for calls on Monday Aug 21 between 09:00 – 12:00 EEST.

This company announcement contains information that Nitro Games Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 21 Aug 2017 at 09:00 (EEST).

Nitro Games in brief:

Nitro Games is a free-to-play mobile game developer and publisher with a decade of experience in developing games for the mid-core user segment, mostly focusing on the genre of strategy games. The Company focuses on producing games with high production value and high revenue potential for smartphones and tablets. With Nitro Games’ powerful NG Platform and NG MVP-process, the Company is able to do market validation with new game prototypes after only a week of development. Historically, Nitro Games has developed games such as East India Company, Commander: Conquest of the Americas, Pirates of Black Cove and Raids of Glory. Nitro Games’ shares are listed on Nasdaq First North Stockholm with the ticker NITRO, and the company’s Certified Adviser is Augment Partners AB, phone: +46 8 505 651 72. www.nitrogames.com.

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