Nitro Games Oyj: Interim report Jan – Mar 2018

The interim period January – March 2018

• Revenues (January – March) increased by 98% to 571.0 KEUR (288.6 KEUR on corresponding period 2017).
• EBITDA amounted to –953.6 KEUR (corresponding period 2016: – 135.2 KEUR).
• EBIT: Operating result before financial items amounted to -1,110.3 KEUR (-315.1 KEUR).
• Net profit: The net result for the period amounted to -1,114.7 KEUR (-406.3 KEUR).
• As of December 31, cash and cash equivalents amounted to 1,295.1 KEUR.

SIGNIFICANT events during the interim period

• New version of Medals of War featured by Apple in 73 countries
• Medals of War hard launch started on Android, available in 70 countries in 15 languages

SIGNIFICANT events after the interim period

•  Changes in management; Jussi Immonen to join as COO, and CMO Mikko Kähärä will leave the company
•  Signed Mobile game publishing agreement with Wargaming related to the earlier game development agreement signed in May 2017

Report highlights

“Overall we had a good start for 2018. The new deal with Wargaming means we’re able to continue our co-operation towards launching the game. There’s also several exciting things happening in our self-publishing business throughout the year. These combined mean that we have solid opportunities for growth in 2018.” says Jussi Tähtinen, CEO of Nitro Games. 

For more information:

Jussi Tähtinen, CEO

Phone: +358 44 388 1071

Email: jussi@nitrogames.com

Sverker Littorin, Board member, IR advisor

Phone: +46 875 5309

Email: sverker.littorin@nitrogames.fi

This company announcement contains information that Nitro Games Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 20 April 2018 at 09:00 (EEST).

Nitro Games in brief:

Nitro Games is a free-to-play mobile game developer and publisher with a decade of experience in developing games for the mid-core user segment, mostly focusing on the genre of strategy games. The Company focuses on producing games with high production value and high revenue potential for smartphones and tablets. With Nitro Games’ powerful NG Platform and NG MVP-process, the Company is able to do market validation with new game prototypes after only a week of development. Historically, Nitro Games has developed games such as East India Company, Commander: Conquest of the Americas, Pirates of Black Cove and Raids of Glory. Nitro Games’ shares are listed on Nasdaq First North Stockholm with the ticker NITRO, and the company’s Certified Adviser is Augment Partners AB, phone: +46 8 505 651 72. www.nitrogames.com.