Nitro Games Oyj: Interim report January – September 2017

The interim period January – September 2017

  • REVENUES: Revenues increased by 58 % to 1,199.1 KEUR (759.1)
  • EBITDA: EBITDA amounted to -1,026.9 KEUR (-317.1)
  • EBIT: Operating result before financial items amounted to -1,542.1 KEUR (-700.2)
  • NET PROFIT: The net result for the period amounted to -1,661.1 KEUR (-710.7)
  • As of June 30, cash and cash equivalents amounted to 672.0 KEUR

July – September 2017

  • REVENUES: Revenues increased 176 % to 411.1 KEUR (149.2)
  • EBITDA: EBITDA amounted to -406.0 KEUR (-207.5)
  • EBIT: Operating result before financial items amounted to -561.3 KEUR (-335.2 KEUR)
  • NET PROFIT: The net result for the period amounted to -564,8 KEUR (-338.8 KEUR)

SIGNIFICANT events during the interim period

  • Nitro Games (”Nitro Games” or the ”Company”) received a positive decision from Tekes to receive funding for the further development of the NG Platform.
  • First self-published mobile game Medals of War was launched in 77 countries on September 19.
  • Medals of War was featured by Apple in 18 countries, including United States in end of September.
  • Nitro Games signed a Term sheet with Netmarble about introducing Medals of War to Arabic and Turkish speaking audiences.

SIGNIFICANT events after the interim period

  • Nitro Games signed Game Distribution and Servicing Agreement with Netmarble EMEA to introduce Medals of War to Arabic and Turkish speaking audiences.
  • Nitro Games completed a directed new share issue of 500,000 shares, raising SEK 25 million.
  • Nitro Games signed amendment with Wargaming, resulting in approximately 0.4 MEUR increased revenue.

Report highlights

“We continued strong execution of our new strategy during Q3:

1. We continued our transition to self-publishing by launching Medals of War in 77 countries on iOS.

2. We continued our business where we offer our services to 3rd parties, which continued being the main revenue source for us.

3. We continued working on our key USP’s NG Platform and NG MVP-process to enable future launches from our portfolio.

With this solid progress we’re confident moving forward towards the end of 2017.”, says Jussi Tähtinen, CEO of Nitro Games.

For more information:

CEO Jussi Tähtinen

Phone: +358 44 388 1071

Email: jussi@nitrogames.com

This company announcement contains information that Nitro Games Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 30 Oct 2017 at 09:00 (EET).

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.

Tags: