Nitro Games

The interim period January-September 2024

• Revenues (Jan - Sep): 8,345 KEUR (5,947 KEUR).
• EBITDA: 1,859 KEUR (-2,503 KEUR).
• EBIT: 538 KEUR (-3,378 KEUR).
• Net result: 541 KEUR (-3,586 KEUR).
• Earnings per share: (EPS) 0.02 (- 0.24).
• Cash and cash equivalents: 2,149 KEUR (30 September 2024).
   

(Unless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year.)

July-September 2024

• Revenues (Jul - Sep): 2,746 KEUR (2,566 KEUR).
• EBITDA: 754 KEUR (-1,517 KEUR).
• EBIT: 313 KEUR (-1,881 KEUR).
• Net result: 262 KEUR (-2,138 KEUR).
• Earnings per share (EPS) 0.01 (-0.11).

Significant events during January-September 2024

• Nitro Games signed approx. 5 million euros expansion to the development agreement with Digital Extremes.
• Nordisk Games sold 6.5 million shares in Nitro Games to current shareholders and investors.
• Morgan Habedank left the Board of Nitro Games.

Significant events after interim period

No post-period events.

Four consecutive profitable quarters

I'm happy to continue reporting growth after the summer with a fourth consecutive profitable quarter. Our revenues for the first nine months grew 40 % to 8.3 million EUR and our EBITDA improved by 174 % to 1.9 million EUR, when compared against the same period last year. This is well in line with our plans for the year, and a result of our continued cost control while ensuring we deliver quality on our selected focus projects. Also worth highlighting is that we haven't capitalized any development costs this year so far. We've also maintained a strong cash position at 2.2 million EUR, while we have cleaned up our balance sheet by paying back 0.9 million EUR of loan to Nordisk Games and clearing the remaining Autogun Heroes acquisition fees of 1.2 million EUR this year. We are determined to continue improving and expanding our business moving forward."

says Jussi Tähtinen, CEO of Nitro Games

Webcast with Teleconference, Q3 / 2024

Nitro Games to host a Webcast on Monday 28 October 2024 09:30 Swedish time.

Details of event: https://financialhearings.com/event/49792
Language: English
Activity: Webcast
Webcast: https://ir.financialhearings.com/nitro-games-q3-report-2024/register
Questions via email: info@nitrogames.com

For more information:

Jussi Tähtinen, CEO & Co-Founder
Phone: +358 44 388 1071
Email: jussi@nitrogames.com

This company announcement contains information that Nitro Games Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 28 October 2024 at 09:00 (EET).

Nitro Games in brief:

Nitro Games is a mobile game developer and publisher. Nitro Games team is a multinational group of mobile gaming professionals that has the expertise from development to publishing to live-operations. The Company focuses on producing high quality mobile games mostly for the mid-core audience. Nitro Games is specialized in the category of shooter games. With Nitro Games' powerful NG Platform and the NG MVP process, the Company is able to carry out market validation with its games during development. Nitro Games has developed several games such as Autogun Heroes, NERF: Superblast, Lootland, Heroes of Warland, Medals of War, Raids of Glory. The company offers its services also to selected customers and has developed several successful projects to leading mobile gaming companies.

Nitro Games' shares are listed on Nasdaq First North Growth Market with the ticker NITRO. The Certified Adviser is FNCA Sweden AB, info@fnca.se.

www.nitrogames.com

Finnish Business ID: FI21348196