Nitro Games Oyj: Interim report Jan – June 2018

The interim period January – June 2018

  • Revenues (Jan-June) increased by 34 % to 1 051.66 KEUR ( 787.92 KEUR on corresponding period 2017).
  • EBITDA amounted to -2 152.87 KEUR (corresponding period 2017: -620.90 KEUR).
  • EBIT: Operating result before financial items amounted to – 2 466.06 KEUR (-980.79 KEUR).
  • Net profit: The net result for the period amounted to -2 476.09 KEUR (- 1 096.35 KEUR).
  • As of June 30, cash and cash equivalents amounted to 1 422.69 KEUR.
  • The company had 570.60 KEUR of short-term receivables as of June 30.

April – June 2018

  • Revenues (April-June) were 480.7 KEUR (499.3 KEUR on corresponding period 2017).
  • EBITDA amounted to -1 204.95 KEUR (corresponding period 2017: - 485.73 KEUR).
  • EBIT: Operating result before financial items amounted to – 1 361.49 KEUR (-665.67 KEUR).
  • Net profit: The net result for the period amounted to -1 366.97 KEUR (- 690.06 KEUR).

SIGNIFICANT events during April – June 2018

  • Wilhelm Taht joined Board of Directors
  • Jussi Immonen joined as COO
  • Signed Mobile game publishing agreement with Wargaming
  • Announced new game: Heroes of Warland
  • Completed a directed issue of approximately SEK 14.2 million

SIGNIFICANT events after the interim period

  • Medals of War launched in MEA region by Netmarble EMEA
  • MEA version of Medals of War received featuring
  • Heroes of Warland public soft launch started

 

Report highlights

“The focus of H1 / 2018 was in building more revenue streams by expanding our portfolio. As a result of these activities, we now have several products in our portfolio, that are potential new revenue streams moving forward to 2ndhalf of this year and beyond.”, says Jussi Tähtinen, CEO of Nitro Games. 

 

Webcast with Teleconference, Q2 / 2018

20 August 2018, 09:30 Swedish time (10:30 EEST)

Details of event: https://financialhearings.com/event/11379 

For more information:

Jussi Tähtinen, CEO

Phone: +358 44 388 1071

Email: jussi@nitrogames.com

Sverker Littorin, Board member, IR Advisor

Phone: +46 70 875 53 09

Email: sverker.littorin@nitrogames.com

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 20 August 2018 at 09:00 (EEST).

Nitro Games in brief:

Nitro Games is a free-to-play mobile game developer and publisher focusing in making games for the mid-core user segment. The Company focuses on producing competitive multiplayer 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 during the development to ensure high product quality. Nitro Games has developed games such as Medals of War, Raids of Glory, East India Company, Commander: Conquest of the Americas, Pirates of Black Cove. 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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