Nitro Games Oyj: Year-end report January – December 2022

Mon, Feb 13, 2023 08:00 CET

Reporting period January – December 2022

Revenues (Jan - Dec): 7 247,9 KEUR (2 635,5 KEUR).
EBITDA: -2 611,7 KEUR (-2 340,2 KEUR).
EBIT: -3 384,1 KEUR (-2 868,0 KEUR).
Net result: -3 405,5 KEUR (-2 889,5 KEUR).
Earnings per share (EPS) -0,3 EUR / share (-0,2 EUR/ share).
Cash and cash equivalents were 1 597,5 KEUR and 900,7 KEUR of short-term receivables (31 December 2022).

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

October - December 2022

Revenues (Oct - Dec): 2 312,9 KEUR (1 231,0 KEUR).
EBITDA: -365,7 KEUR (-280,3 KEUR).
EBIT: -558,8 KEUR (-393,5 KEUR).
Net result: - 546,1 KEUR (-399,0 KEUR).
Earnings per share (EPS) -0,04 EUR / share (0,0 EUR/ share).

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

Significant events during October - December 2022

Signed approx. 2 million EUR expansion to the development agreement with Digital Extremes.

Significant Events After a period

Announced a new mobile game: Autogun Heroes. The game is currently in soft launch.
Signed approx. 0,6 million EUR expansion to the development agreement with Supermassive Games.

Report highlights

“Our revenues reached a record high in 2022. The annual revenues grew 175% year-on-year to 7,3 million EUR, and our revenues in the fourth quarter also grew 88% year-on-year to 2,3 million EUR. Our EBITDA decreased slightly because of the planned investments in our game portfolio and in the game launches. Overall, we made good progress in increasing our revenues and improving our business step-by-step as we continue to work our way toward profitability. “

says Jussi Tähtinen, CEO, Co-Founder

Webcast with Teleconference, Q4 / 2022

Nitro Games to host a Webcast on Monday, 13 February 2023, 09:30 Swedish time.

Nitro Games Oyj Year-end Report for January - December 2022 will be released on Monday, 13 February 2023. The Company will do a presentation after the release of the report. Participants can join this presentation via a Webcast. Participants can send questions to the presenters via the email below.

13 February 2023 09:30 (Europe/Stockholm)

Details of event: https://financialhearings.com/event/44212

Language: English

Activity: Webcast

Webcast: https://ir.financialhearings.com/nitro-games-q4-2022

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 13 February 2023 at 09:00 (EET).

Nitro Games in brief:

Nitro Games is a mobile game developer and publisher. Nitro Games team is a multinational group of mobile gaming professionals with 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 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

Nitro Games Oyj