Preliminary Information on 2021 Financial Result and outlook for 2022

Published March 02, 2022

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Next Games Corporation Company Release March 2, 2022 at 09:25 a.m. (EET)

Next Games releases preliminary information on the company’s 2021 financial results. Additionally, the company publishes its outlook for 2022. Next Games publishes its full-year financial statement on March 14, 2022. The figures in this release are preliminary and unaudited.

January - December 2021 key figures:

  • Revenue was EUR 25.2 (27.2) million
  • Gross Profit was EUR 13.5 (14.3) million, 54% (52%) of revenue
  • EBIT was EUR -5.6 (-3.4) million
  • EBITDA was EUR -0.6 (0.5) million
  • Publishing profitability EBITDA was at EUR 5.6 (6.4) million, 22% (24%) of revenue
  • Research and Development costs were EUR 6.7 (5.6) million, 27% (21%) of revenue
  • The company had 121 (104) employees at the end of 2021

(Numbers in brackets refer to the corresponding year-on-year period unless otherwise mentioned)

EUR millionJul-Dec 2021Jul-Dec 2020Change20212020Change
Gross Profit7.26.77%13.514.3-6%
Operating Result (EBIT)-3.4-1.7102%-5.6-3.464%
Adjusted Operating Result-0.9-0.2342%-1.2-0.11083%
Gross profit %56%52 %4ppt54%52%2ppt
EBITDA %-6%2 %8ppt-3%2%5ppt
Operating Result (EBIT) %-27%-14 %13ppt-22%-12%10ppt
Adjusted Operating Result %-7%-1%6ppt-5%0%5ppt
Publishing Operations' Profitability      
EBITDA %21%24 %3ppt22 %24%2ppt
Research and Development Key Figures      

Outlook for 2022

The company will aim to improve the performance of key games and continue developing new games in 2022. Next Games expects R&D and Administration costs to maintain a similar level to 2021.

Events after the reporting period

Next Games reached an agreement with its partner Alcon Entertainment to discontinue the Blade Runner Rogue game project after the reporting period in February 2022. The game did not meet mutually agreed targets. The game will be removed from Apple App Store and Google Play Store, but will remain online for existing players until June 2022.



EUR millionJul-Dec 2021Jul-Dec 202020212020
Cost of revenue-5.7-6.1-11.7-12.9
Gross profit7.26.713.514.3
Other operating income0.
Research and development-3.6-2.9-6.7-5.6
Sales and Marketing-5.6-4.5-9.9-9.5
Operating result (EBIT)-3.4-1.7-5.6-3.4
Finance costs, net-0.1-0.4-0.0-0.5
Share of associates' result--0.1--0.2
Profit before taxes-3.4-2.2-5.6-4.1
Current income taxes----
Change in deferred tax0.
Total income tax expense0.
Result for the period-3.3-2.1-5.3-3.9
Total comprehensive result for the period-3.3-2.1-5.3-3.9
Result attributable to the owners of the parent-3.3-2.1-5.3-3.9

SharesJul-Dec 2021Jul-Dec 202020212020
Result per share for profit attributable to the owners of the parent    
Non-Diluted earnings per share, EUR-0.11-0.08-0.18-0.14
Diluted earnings per share, EUR-0.11-0.08-0.18-0.14


EUR million31 Dec 202131 Dec 2020
Non-current assets26.321.9
Current assets7.28.2
Total assets33.530.1
Total liabilities14.910.7
Long-term liabilities4.42.7
Short-term liabilities10.58.0
Total equity and liabilities33.530.1

Additional information:

Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Investor relations:

Certified Adviser: Alexander Corporate Finance Oy, tel. +358 (0) 50 520 4098

About Next Games

Next Games is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefine the way franchise entertainment transforms into highly engaging service-based mobile games. Next Games works on multiple new games based on beloved global IPs. The company’s latest game, Stranger Things: Puzzle Tales, is based on Netflix’s hit 80s horror drama series.