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Q3 Update: Trophy Games increases YoY revenue with 24% and YoY EBITDA with 191%

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Company Announcement No. 10-2022

Copenhagen, 9 November 2022


 

Highlights

Q3

  • Group revenue Q3 2022 was DKK 12.1m, which is 24% higher than Q3 2021.
  • Group EBITDA Q3 2022 was DKK 2.0m, which is 191% higher than Q3 2021.
  • Unique paying users total Q3 2022 was 43,454, which is 20% higher than Q3 2021.
  • Total transactions Q3 2022 was 143,891, which is 15% higher than Q3 2021.
  • Total installs Q3 2022 was 1.8m, which is 22% higher than Q3 2021.

Year to date

  • Group revenue YTD 2022 was DKK 38.1m, which is 37% higher than the same period in 2021.
  • Group EBITDA YTD 2022 was DKK 5.1m, which is 147% higher than the same period in 2021.
  • Unique paying users total YTD 2022 was 119,714, which is 83% higher than the same period in 2021.
  • Total transactions YTD 2022 was 469,327, which is 51% higher than the same period in 2021.
  • Total installs YTD 2022 was 5.0m, which is 41% higher than the same period in 2021.


 

Management Commentary

In Q3 we have steadily kept the organisational focus and growth path we started in the first half of the year. Financially this means that we have kept stern attention on a strong EBITDA rather than top-line growth. That said, we’ve still managed to deliver a YoY growth of Q3 revenue of 24% (DKK 12.1m). This performance is dwarfed by the 191% YoY growth in EBITDA (DKK 2m). 

The heavier prioritization of EBITDA compared to topline, isn’t a new thing. Throughout the year we have been working actively to consolidate the business, and we are happy to show a healthy development in both revenue growth and EBITDA margins (from single digits in 2021 to now 15.6% in Q3). 

Organizationally, and in line with our goal of expanding our portfolio through M&A and creating synergies between our titles, our success title Airline Manager 4 has gotten a sister game in the airport tycoon title Sky Haven through an 80% acquisition of the Lithuanian company Piu-Piu LT. The game is being polished right now while still in early access and we’re looking forward to starting to utilize the cross-promotional aspects between these games. 

Also on the topic of synergy between titles, our inhouse development of the new transportation franchise title Shipping Manager has been going to plan and is thus still set for a December release this year. 

Our first title as publishers, The Ranchers, have closed a strong Kickstarter campaign during Q3, not only securing 245k€ to support the continued development of this highly anticipated title, but also building awareness in the market for this game that is still anticipated in Q3 2023.



 

Contact Information

TROPHY GAMES Development A/S

Søren Gleie, CEO

Office (+45) 7172 7573

Email: soren@trophy-games.com

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


 

Certified Adviser

Norden CEF

John Norden

Email: jn@nordencef.dk 

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.

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