Update on state of the current business
Company Announcement No. 6-2022
Copenhagen, 12. May 2022
This company announcement constitutes inside information.
Trophy Games realised revenue of DKK 13.5m and an EBITDA of DKK 1.4m in Q1 2022 - a strong start to 2022.
Airline Manager has outperformed expectations in 2022 and is now Trophy Games’ largest game based on both revenue and daily active users - reaching revenues of DKK 7m in Q1 2022 (DKK 6.1m higher than Q1 2021 and an 85% increase from Q4 2021). Revenue has stabilized around the current Q1, 2022 levels.
Airline Manager is the first game in a new transport management series, with Shipping Manager on track to be released in Q4 2022. The company believes Shipping Manager will match Airline Manager’s figures once established. Truck and Train Manager is expected to be joining the series in 2023.
Trophy Games’ sports management titles are performing as expected, showing solid sales and long-tail performance. Focus in Q1 2022 has been to move Pro 11 into the retain phase where marketing spend is lowered, to optimise the profit from the long tail of the game. This is the same phased marketing approach adopted with Trophy Manager and FMU.
Warhammer AoS: Soul Arena has proved to be a game with high quality since the release. However, refining the game to the desired level where it is ready to be scaled has taken longer than intended. The marketing and scaling will now start in Q3 2022, slightly behind schedule. This will include e-sports tournaments with streamers as part of release activity highlights. Soul Arena is expected to hit its long-term targets.
Tiny Rails (acquired in December 2021) is performing in line with expectations. Later in May 2022 the first optimization patch for the game will be released which will deliver significant improvements to monetization.
Structurally, Trophy Games is currently working on expanding its live-ops team, which is a key focus in 2022 and will help the commercial business performance with its current game portfolio as well as increasing opportunities for success through the company’s acquisition strategy.
Updated Financial Calendar
Trophy Games intends to publish quarterly updates to give more frequent updates and transparency as part of the IR strategy disclosed in Company Announcement no. 8-2021. Trophy Games expects the quarterly updates to provide investors with insights on how the business and growth plans progress.
The first quarterly update will be ready on November 9th 2022, and the financial calendar has been updated accordingly. Next major event for the company will be the half-year report on August 17th 2022.
Contact Information
TROPHY GAMES Development A/S
Søren Gleie, CEO
Office (+45) 7172 7573
Email: [email protected]
Mikkel Bryggers Gade 4, 2. sal, 1460 Copenhagen K, Denmark
Certified Adviser
Grant Thornton
Jesper Skaarup Vestergaard
Mobile (+45) 3179 9000
Stockholmsgade 45, 2100 Copenhagen Ø, Denmark
About Trophy Games
Trophy Games is an innovative, Denmark-based game studio who 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 six 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), (v) Futuball – Future Football Manager Game (released 2019) and (vi) Five - esports manager game (released 2021). Furthermore, the Company has announced its release of a seventh (Warhammer AoS: Soul Arena) game in January 2022. All games are released in +20 different languages to ensure broad global user accessibility.
Trophy Games acquired 100% of Xombat ApS in April 2021, who’s major title Airline Manager 4 is live. Trophy Games has announced that a new title called Shipping Manager will be released in 2022.
Trophy Games announced in December 2021 they have also acquired 100% ownership of Tiny Titan Studios, who has made the arcade game title Tiny Rails.
In May 2022 Trophy Games announced they will be the exclusive publisher of RedPilz' The Ranchers. The game is expected to be released in 2023.
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.
Trophy Games is currently a team of 40 FTEs of which 33 FTEs is our great team of game developers.
