Trophy Games increases H1 2021 YoY revenue with 32.3%

 

Company Announcement No. 10-2021

Copenhagen, 11 August 2021

 

Management Commentary

First half of 2021 has been a historic period for Trophy Games. A successful IPO, our first acquisition and full throttle on all our growth plans. It has truly been defining for how Trophy Games will develop in the years to come. We are also happy with the growth rate for H1 with one new game added to the portfolio and with all our resources spent on unreleased games and features.

 

Highlights

• Strong revenue growth
  • Revenue end of H1 2021 was 18.1m DKK, which is 32.3% higher than 13.7m DKK in H1 2020.
  • Unique paying users total in H1 2021 was 45,225, which is 22.3% higher than 36,966 in H1 2020.
  • Average revenue per paying user (ARPPU) in H1 2021 was 399 DKK, which is 7.5% higher than 371 DKK in H1 2020.

• Acquisition of Xombat ApS
  • A big step forward, in accordance with our growth plan from the IPO, was our first acquisition of Xombat ApS. So far, we have seen fantastic results and we expect a lot from our Xombat game portfolio, where the flagship game Airline Manager 4 produced 1.987m DKK in revenue in H1 2021 and has potential for a lot more as we announced in company announcement #8 from July 30th 2021. 
  • Airline Manager 4s July landed a record revenue of 850k DKK for the month - almost 300% higher than the average monthly revenue before we took over.

• Scaling of organization
  • The Trophy Games organization grew from 23 to 30 employees. The 7 new team members are developers and graphical artists hired to speed up development of both existing games as well as games under development.
  • As announced in company announcement #9 from July 30th 2021, we have hired Mariana Chucri as our new CFO in accordance with our IPO plan. She will replace our interim CFO Carina Lüth Vienberg per 1st of October 2021.
  • As things are progressing fast, we plan to start the game incubator project mentioned in the prospectus in H2 a bit earlier than planned.

• Guidance
  • Trophy Games maintains guidance which continues to a revenue of 44.7m DKK and EBITDA of 6.2m DKK for the full year of 2021.

 

CONTACT INFORMATION

TROPHY GAMES Development A/S

Søren Gleie, CEO
Office (+45) 7172 7573
E-mail: [email protected]

TROPHY GAMES Development A/S

Højbro Pl. 10, DK-1200 Copenhagen, Denmark

 

Certified Adviser

Grant Thornton

Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00

Grant Thornton Stockholmsgade 45 2100 Copenhagen Ø Denmark

 

ABOUT TROPHY GAMES

TROPHY GAMES is an innovative, Denmark-based game studio that develops and publishes mobile and PC games. The Company develops and publishes games with strategy and management challenges and predominantly focuses on football-themed games. Recently, the Company has ventured into additional game genres and the suite of games to be released in 2021 include an esports manager title and an auto battler title.

Since its official inception in 2006, the Company has developed and released five different games: (i) Trophy Manager (released 2006), (ii) Football Management Ultra (released 2013), (iii) Pro 11 – Football Manager Game (released 2017), (iv) Women’s Soccer Manager (WSM) – Football Management (released 2017), and (v) Futuball – Future Football Manager Game (released 2019). Furthermore, the Company has announced its release of a sixth (FIVE) and seventh (Warhammer AoS: Soul Arena) game in 2021. All games are released in +20 different languages to ensure broad global user accessibility.

With the vision of becoming the world’s leading strategy game studio, the Company has throughout the years strived to provide endless entertainment and challenging gameplay for all users, following its mission; “we create games, we want to play ourselves”.

Since its inception, the Company has developed exponentially and has grown significantly in both staffing, game portfolio and number of users, and naturally revenue.

Currently, the Company employs 23 employees, which includes 15 developers and four marketing employees.

 

IMPORTANT INFORMATION

This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by TROPHY GAMES Development A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.

This announcement does not constitute an offering circular, prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in TROPHY GAMES Development A/S except on the basis of information in the company description published by the Company in connection with the offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark ("First North"), which is available on the Company's website.

Neither the existing shares of TROPHY GAMES Development A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended (“Securities Act”). Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication up of a prospectus, registration or other measures. Any application to subscribe for the Offer Shares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.

Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.