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Nitro Games Oyj: Half-Year Report January – June 2024

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REPORTING PERIOD JANUARY – JUNE 2024

    • Revenues (Jan - Jun): 5,599 KEUR (3,381 KEUR).
    • EBITDA: 1,105 KEUR (-986 KEUR).
    • EBIT: 225 KEUR (-1,496 KEUR).
    • Net result: 279 KEUR (-1,447 KEUR).
    • Earnings per share (EPS) 0.01 (- 0.11).
    • Cash and cash equivalents: 3,056 KEUR (30 June 2024).

(Unless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year.)

APRIL – JUNE 2024

      • Revenues (Apr – Jun): 2,925 KEUR (1,638 KEUR).
      • EBITDA: 505 KEUR (-771 KEUR).
      • EBIT: 65 KEUR (-1,034 KEUR).
      • Net result: 172 KEUR (-1,088 KEUR).
      • Earnings per share (EPS) 0.01 EUR / share (-0.08 EUR/ share).

SIGNIFICANT EVENTS DURING APRIL– JUNE 2024

  • Autogun Heroes proceeds to live phase.
  • AGM & Election of the Board of Directors.

SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD

No post-period events.

Report highlights

“I’m happy to continue reporting record revenues with a profitable result. Our revenues for the first half of the year grew 66 % to 5.6 million EUR and our EBITDA improved 212 % to 1.1 million EUR when compared against the same period from last year. This profitable growth comes as a result of our continued efforts in cost control while ensuring we deliver quality on our selected focus projects. Despite making the first three installments on our loan to Nordisk Games and reducing our debt we managed to end the period with a strong cash position of 3.1 MEUR. Moving forward, we are seeking to increase the level of activity with our game portfolio while we of course maintain the focus on profitability.”

says Jussi Tähtinen, CEO of Nitro Games

Webcast with Teleconference, Q2 / 2024

19 August 2024 09:30 Swedish time.

Details of event: https://financialhearings.com/event/49791
Language: English
Activity: Webcast
Webcast: https://ir.financialhearings.com/nitro-games-q2-report-2024
Questions via email: info@nitrogames.com

For more information:

Jussi Tähtinen, CEO & Co-Founder
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 19 August 2024 at 09:00 (EEST).

Nitro Games in brief:

Nitro Games is a mobile game developer and publisher. Nitro Games team is a multinational group of mobile gaming professionals that has the expertise from development to publishing to live-operations. The Company focuses on producing high quality mobile games mostly for the mid-core audience. Nitro Games is specialized in the category of shooter games. With Nitro Games’ powerful NG Platform and the NG MVP process, the Company is able to carry out market validation with its games during development. Nitro Games has developed several games such as Autogun Heroes, NERF: Superblast, Lootland, Heroes of Warland, Medals of War, Raids of Glory. The company offers its services also to selected customers and has developed several successful projects to leading mobile gaming companies.

Nitro Games’ shares are listed on Nasdaq First North Growth Market with the ticker NITRO. The Certified Adviser is FNCA Sweden AB, info@fnca.se.

www.nitrogames.com

Finnish Business ID: FI21348196

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