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Trophy Games increases H1 2022 YoY revenue with 44%

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Company Announcement No. 8-2022

Copenhagen, 17 August 2022

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Management Commentary

We have come out of the first half of 2022 with a strong result fuelled by exceptional growth in Airline Manager and hit our growth target despite being faced with challenging global conditions. The macroeconomic uncertainty has caused us to give EBITDA more focus than priority on the topline, and I am happy that H1 EBITDA ended with DKK 3.1m versus DKK 1.4m in H1 2021. By half year’s end, we still had a cash position allowing us a lot of freedom strategically, and we are currently not in a hurry to use it.

We opened a new chapter in signing a publishing agreement with the highly anticipated game The Ranchers. This is the first game developed outside Trophy Games we will be publishing, and it is opening a whole new business opportunity for us. 

Looking into the next half year, the most significant event is the release of Shipping Manager, and then scaling up on Warhammer.

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Highlights

  • Strong growth on every parameter
    • Group revenue H1 2022 was DKK 26.0m, which is 44% higher than DKK 18.1m in H1 2021.
    • Group EBITDA H1 2022 was DKK 3.1m, which is 125% higher than DKK 1.4m in H1 2021.
    • Unique paying users total H1 2022 was 87,206, which is 93% higher than 45,225 in H1 2021.
    • Total installs H1 2022 was 3.3m, which is 46% higher than 2.2m in H1 2021.
    • Total transactions H1 2022 was 325,436, which is 59% higher than 204,285 in H1 2021.
  • Publishing Agreement & Acquisitions
    • The company has signed its first publishing agreement with RedPilzStudio to be publisher of the game The Ranchers. The Ranchers is expected to be released in Q4 2023 and have already amassed over 250,000 Steam wishlists.
    • Plenty of gunpowder left for the future growth plan. End of H1 2022 the company had DKK 30.3m in cash and cash equivalents and no debt.
  • Guidance 2022
    • Trophy Games maintains guidance of DKK 70-80m in revenue and DKK 4-8m in EBITDA for the full year of 2022.



 

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

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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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