edyoutec communicates financial targets for 2024

Press release March 4, 2024

edyoutec AB has set financial targets for 2024 for its German subsidiary (Wegesrand).

edyoutec acquired Wegesrand in October 2022. For 2023, the invoiced revenues for Wegesrand amounted to approximately 24,3 MSEK, which was in line with 2022. Wegesrand has started 2024 strongly and the order intake during the first two months of the year already amounts to approximately 8.5 MSEK.

Wegesrand is experiencing significantly increased activity and demand on the German market, not only for Wegesrand but also in general. edyoutec assesses that this increased order intake and activity on the German market is sustainable and will last for at least the entire current year. In light of this and taking into account ongoing cost efficiencies in Germany, edyoutec's board has established the following financial targets for Wegesrand for 2024:

• Turnover of at least 32 MSEK (only Wegesrand Group)
• EBITDA of at least 5 MSEK (only Wegesrand Group)

This financial target relates solely to Wegesrand's traditional consulting activities. In addition to this target, edyoutec sees a large revenue potential both from the game titles King Royale and Tank Operations as well as the platforms Rail Experience and AppLeMat. Revenues from the game titles and platforms are thus not included in the determined financial target.

Wegesrand regularly receives both large and small assignments. edyoutec has previously chosen to publish selected parts of these assignments in its information provision. edyoutec now intends to instead publish only such orders and assignments that can be expected to affect the set financial target and to comment on this in the company's interim reports. In addition, individual assignments may be made public if edyoutec deems it to be of particular interest, for example because a new assignment can be expected to lead to other assignments. edyoutec believes that this will facilitate the assessment of this part of edyoutec's business.

edyoutec's CEO, Eric de Basso, comments:

"It is gratifying to see how strongly our German subsidiaries have performed during the start of 2024 and what activity there has been in the German market. In my CEO word in the year-end report, I called this the 'Microsoft effect', which continues to be felt tangibly."

For further information, please contact:

Eric de Basso, CEO, edyoutec AB
E-mail: eric@edyoutec.com  
Phone: +46 70 780 52 00

This information is information that edyoutec AB is obliged to make public according to the EU's market abuse regulation. The information was provided through the above contact person, for publication on 03-04-2024, at 16:05.

About edyoutec

edyoutec is a Swedish company in games and digital education that consists of two verticals, EdTech and games. In the EdTech vertical, the company focuses on developing products in genres such as game-based learning and Serious Games, it is in these areas that edyoutec has identified the greatest synergies between the company's two verticals. In the Games vertical, the business concept is based on developing and distributing free-to-play ("F2P") mobile games for Android and iOS.

For more information, see edyoutec's website www.edyoutec.com