Nitro Games Oyj: Year-end report January – December 2020

Reporting period January – December 2020

  • Revenues (Jan-Dec): 1 171,3 KEUR (816,2 KEUR on corresponding period 2019).
  • EBITDA: -2 326,6 KEUR (-2 658,3 KEUR).
  • EBIT: -2 783,2 KEUR (-3 284,5 KEUR).
  • Net profit: -2 810,9 KEUR (-3 293,3 KEUR).
  • Cash and cash equivalents: 2 981,7 KEUR.

October – December 2020

  • Revenues (Oct - Dec): 85,8 KEUR (426,6 KEUR).
  • EBITDA: -877,2 KEUR (-554,6 KEUR).
  • EBIT: -991,4 KEUR (-711,0 KEUR).
  • Net profit: -1 004,2 KEUR (-712,0 KEUR).

Significant events during October – December 2020

  • Nitro Games to develop Nerf mobile game: Nitro Games has secured a global exclusive license for Nerf by Hasbro to develop a mobile action game based on Nerf blasters.
  • Successful technical testing and expansion of the portfolio: Nitro Games has a total of three games in development due for release in 2021.

Report highlights

“Nitro is well-positioned to take advantage of the growth in the shooter category, as we have already accumulated several achievements and learnings through our first releases. We have a unique upside on the market by being an independent developer & publisher, while still having the capabilities to execute complex real-time multiplayer games with high production value. This combined with our portfolio strategy and proprietary re-usable technology Nitro Platform gives us the foundation to build a scalable long-term success and reach our vision.

Our team has shown their professionalism by successfully turning this pandemic threat into an opportunity to be a better and stronger unit. We have improved our efficiency and as a result, have secured a big IP license and successfully expanded our game portfolio towards the end of last year. says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q4 / 2020

15 February 2021, 09:30 Swedish time (10:30 EET)

Details of event: https://financialhearings.com/event/13247

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 15 February 2021 at 09:00 (EET).

Nitro Games in brief:

Nitro Games is a free-to-play 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 mobile games with high production value for 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 games based on its own IP such as 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, +468 528 00399.

www.nitrogames.com

Finnish Business ID: FI21348196