Nitro Games Oyj: Interim Report January – March 2023

Reporting period January – March 2023

• Revenues (Jan - Mar): 1 742,3 KEUR (1 133,3 KEUR).
• EBITDA: -214,2 KEUR (-1 060,3 KEUR).
• EBIT: - 462,1 KEUR (-1 262,8 KEUR).
• Net result: -360,5 KEUR (-1 276,9 KEUR).
• Earnings per share (EPS) 0,0 (-0,1).
• Cash and cash equivalents: 1 683,4 KEUR, and 787,6 KEUR of short-term receivables (31 March 2023).

(All figures are presented in accordance with IFRS and, unless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year.)

Significant events during January – March 2023

• Announced Autogun Heroes and started the soft launch.
• NERF: Superblast progressed to live operations phase with several industry award nominations.
• Signed approx. 0,6 million EUR expansion to development agreement with Supermassive Games.
• Received positive decision about funding of approx. 1,5 million EUR from Business Finland.

Significant Events After a period

• Autogun Heroes performed above expectations during the soft launch phase and is currently being prepared for hard launch.

Report highlights

“We’ve started our year well and have exceeded our expectations with the soft launch for our new game Autogun Heroes. Our revenues grew 53,7 % to 1 742,3 KEUR and our EBITDA improved 79,8 % to -214,2 KEUR, compared to the first quarter previous year. Our B2B service business has continued as planned with existing revenue streams and a strong sales funnel. We are progressing well on our step-by-step approach towards profitability. I am excited about the growth opportunities ahead of us with both our games business and our B2B service business.”, says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, Q1/ 2023

The Company will do a presentation after the release of the report. Participants can join this presentation by a Webcast. Participants can send questions to the presenters via email below.

24 April 2023 09:30 (Europe/Stockholm)

Details of event: https://financialhearings.com/event/44213

Language: English

Activity: Webcast

Webcast: https://ir.financialhearings.com/nitro-games-q1-2023

Questions via email: [email protected]