Nitro Games Oyj: Interim report Jan – Sept 2018

The interim period January – September 2018

• Revenues (Jan-Sept) increased by 49,8 % to 1 796,4 KEUR (1 119,1 KEUR on corresponding period 2017).
• EBITDA amounted to -2 984,2 KEUR (-1 026,9 KEUR).
• EBIT: Operating result before financial items amounted to – 3 454,0 KEUR (-1 542,1 KEUR).
• Net profit: The net result for the period amounted to -3 469,4 KEUR (- 1 661,1 KEUR).
• As of September 30, cash and cash equivalents amounted to 289,3 KEUR.

The company had 906,2 KEUR of short-term receivables as of Sept 30.

July – September 2018

• Revenues (Jul-Sept) increased by 81,2% to 744,8 KEUR (411,1 KEUR on corresponding period 2017).
• EBITDA amounted to -831,3 KEUR (-406,0 KEUR).
• EBIT: Operating result before financial items amounted to – 987,9 KEUR (-561,3 KEUR).
• Net profit: The net result for the period amounted to -993,2 KEUR (-564,8 KEUR).

Significant events during July – September 2018

• Medals of War launched in MEA region by Netmarble EMEA.
• MEA version of Medals of War received featuring.
• Heroes of Warland public soft launch started.

Significant events after the interim period

• Completed a directed issue of SEK 47,4 million.
• Signed Term sheet with Netmarble for Heroes of Warland.
• Signed a Sponsorship and Partnership Agreement with Huawei.

Report highlights

“During the first half 2018, Nitro Games focused on the development of new games to lay the foundation for growth. Now in the second half, we’re proceeding with these projects and preparing new launches and updates. We’ve also focused on strengthening our self-publishing capabilities with selected hires and further developing our user acquisition and data tools and pipelines. We are now in a strong position and well positioned for growth after the 3rd quarter.” says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q3 / 2018

29 October 2018, 09:30 Swedish time (10:30 EET)

Details of event: https://financialhearings.com/event/11483 

For more information:

Jussi Tähtinen, CEO

Phone: +358 44 388 1071

Email: jussi@nitrogames.com

Sverker Littorin, Board member, IR Advisor

Phone: +46 70 875 53 09

Email: sverker.littorin@nitrogames.com

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 29 October 2018 at 09:00 (EET).

Nitro Games in brief:

Nitro Games is a free-to-play mobile game developer and publisher focusing on making games for the mid-core user segment. The Company focuses on developing competitive multiplayer games with high production values and high revenue potential for smartphones and tablets. With Nitro Games’ powerful NG Platform and NG MVP-process, the Company is able to validate its games on the market earlier within its game development cycle than its peers, in order to minimise risk and ensure higher product quality. Nitro Games has developed games such as Medals of War, Raids of Glory, East India Company, Commander: Conquest of the Americas, Pirates of Black Cove. 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.