Nitro Games Oyj: Half-year report January - June 2020

Reporting period January - June 2020

• Revenues (Jan - Jun): 984,7 KEUR (71,9 KEUR on corresponding period 2019).
• EBITDA: -629,8 KEUR (-1 843,5 KEUR).
• EBIT: -858,1 KEUR (-2 156,7 KEUR).
• Net profit: -870,1 KEUR (-2 162,2 KEUR).
• Cash and cash equivalents: 5 028,0 KEUR (30 June 2020).

April - June 2020

• Revenues (Apr - Jun): 523,0 KEUR (46,8 KEUR on corresponding period 2019).
• EBITDA: -420,5 KEUR (-528,0 KEUR).
• EBIT: -534,7 KEUR (-684,6 KEUR).
• Net profit: -545,1 KEUR (-687,3 KEUR).

Significant events during April - June 2020

• Nordisk Film Games invested SEK 45 million into Nitro Games and became the largest shareholder
• AGM & Election of new Board of Directors; Mikkel Weider and Pim Holfve joined as new members
• Nitro Games and Expansive Worlds AB ("Avalanche Studios Group") announced the title theHunter: Mobile and the starting of the soft-launch period.

Report highlights

"We started this year with good momentum and continued our sequential improvements throughout the first half of the year. Our revenues continued to grow and the EBITDA continued to improve. At the same time, we were working on more projects than the previous year. This all together puts us in a position where we are well underway towards our vision of becoming a household name within the shooter category." says Jussi Tähtinen, CEO of Nitro Games.

Webcast with Teleconference, H1 / 2020

24 April 2020, 09:30 Swedish time (10:30 EEST)

Details of event: https://financialhearings.com/event/12787