Adjusted Revenue and EBITDA Guidance for 2022 from Trophy Games Development A/S

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Company Announcement No. 9-2022 

Copenhagen, 20 October, 2022

*Contains Inside Information*

Trophy Games has changed our focus from topline to bottom line to keep a strong cash position because of the general economic uncertainty and freezing of capital markets.


Full year revenue growth for 2022 vs 2021 expected to be between 16-23%, corresponding to DKK 48-51m compared to latest guidance of DKK 70-80m. 


Full year EBITDA growth 2022 vs 2021 expected to be between 241-332%, corresponding to DKK 7.5-9.5m, compared to latest guidance of DKK 4-8m. 

2022: Guidance Update Considerations

Three key business areas are impacting the guidance update: 

- Acquisitions & Investments

This year's big event in the investment area was the publishing agreement with The Ranchers, expected to be released next year. Our previous revenue guidance included around DKK 10m in 2022 coming from acquisitions.

- Sports Series

The marketing budget was lowered as we moved the largest game Pro 11 into the retain phase where the focus is on EBITDA. As a result, EBITDA from the sports series will increase and the revenue will decrease.

- Warhammer AoS: Soul Arena

Launching of Soul Arena has faced challenges during the year and we have not been able to start the scaling phase as we expected. The delay has caused revenue to be DKK 9m lower than expected. We have a PC version coming up this quarter and a major update for the mobile version.

Trophy Games Development A/S (publ) (Nasdaq First North Growth Market Denmark: Ticker TGAMES) is obligated to publish the above information in compliance with the EU Market Abuse Regulation act. 17.


Contact Information

TROPHY GAMES Development A/S

Søren Gleie, CEO

Office (+45) 7172 7573


Mikkel Bryggers Gade 4, 2. sal, 1460 Copenhagen K, Denmark

Certified Adviser

Norden CEF

John Norden


A/S Kongevejen 365, 2840 Holte, Denmark


About Trophy Games

Trophy Games is an innovative, Denmark-based game studio who develops and publishes mobile and PC games.