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TG Q3 Update 2024
Prenumeration
Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Denmark |
| Sektor | Sällanköp |
| Industri | Gaming |
Company Announcement no. 13/2024 (October 24, 2024)
Highlights Q3
- Revenue was DKK 24.7m, a 56% YoY increase.
- EBITDA was DKK 4.9m, a 69% YoY increase.
- EBT* was DKK -0.4m, a -233% YoY increase.
- Unique paying users were 130,408, a 108% YoY increase.
- Total transactions were 331,656, a 102% YoY increase.
- Total installs were 6.1m, a 97% YoY increase.
YTD
- Revenue was DKK 70.1m, a 71% YoY increase.
- EBITDA was DKK 17.5m, a 150% YoY increase.
- EBT was DKK 7.6m, a 443% YoY increase.*
- Unique paying users were 290,303, a 109% YoY increase.
- Total user payments were 865,399, a -7% YoY decrease.
- Total installs were 14.0m, a 97% YoY increase.
*EBT for Q3 2024 reflects a full impairment of AirportTycoon, amounting to DKK 3.0m, following the closure of the subsidiary PIU-PIU LT, UAB. Excluding this impairment, the adjusted EBT for Q3 would be DKK 2.6m and DKK 10.6m YTD.
CEO comment
The third quarter is often a slightly slower quarter for the gaming industry as it coincides with holiday and exam periods. Nevertheless, we have managed to achieve another quarter of remarkable progress. We have experienced significant growth, increasing from 2.3 million installs in Q3 2023 to 6 million this quarter. Additionally, the number of payments has doubled compared to the same period last year. This is especially driven by Airline Manager, our new release Energy Manager, and the acquisition of Tivola. The takeover of Tivola’s games is now complete, and they are performing as expected. We could not be more excited about the future. We are releasing the much anticipated Truck Manager shortly and we also have both Farm Manager and Space Transport Manager in production, as well as Gold Miner Manager in pre-production, and a major update on the way for Transit King Tycoon.
At the same time, we must be careful not to leave untapped potential behind and move on too quickly to new titles. Our top funnel has never been stronger – we are receiving a consistent flow of new players into our games. Now it's time to take a closer look at the products and ensure that these millions of players get the best possible experience. Going forward, we will invest more in developing the games that are already on the market, especially Airline, Train, Energy, and Shipping Manager, as well as Transit King Tycoon.
As our organisation expands, we remain mindful of the importance of maintaining focus and avoiding overextension. This entails making strategic decisions to discontinue projects that do not demonstrate sufficient potential for impact. This was the basis for the decision to close the Piu Piu studio and discontinue the development of Airport Tycoon.
- Søren Gleie