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8186

Next Games Corp.: Preliminary Information on 2021 Financial Result and outlook for 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 million Jul-Dec 2021 Jul-Dec 2020 Change 2021 2020 Change
Company            
Revenue 12.9 12.8 1% 25.2 27.2 -7%
Gross Profit 7.2 6.7 7% 13.5 14.3 -6%
EBITDA -0.7 0.2 -471% -0.6 0.5 -226%
Operating Result (EBIT) -3.4 -1.7 102% -5.6 -3.4 64%
Adjusted Operating Result -0.9 -0.2 342% -1.2 -0.1 1083%
             
Gross profit % 56% 52 % 4ppt 54% 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 2.7 3.0 -9% 5.6 6.4 -13%
EBITDA % 21% 24 % 3ppt 22 % 24% 2ppt
             
Research and Development Key Figures            
Investments 3.4 1.9 79% 5.5 3.5 56%
Expenditure 5.6 3.7 52% 9.4 7.0 34%

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.

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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.

TABLES

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

EUR million Jul-Dec 2021 Jul-Dec 2020 2021 2020
Revenue 12.9 12.8 25.2 27.2
Cost of revenue -5.7 -6.1 -11.7 -12.9
Gross profit 7.2 6.7 13.5 14.3
Other operating income 0.4 0.3 0.8 0.7
Research and development -3.6 -2.9 -6.7 -5.6
Sales and Marketing -5.6 -4.5 -9.9 -9.5
Administrative -1.7 -1.3 -3.2 -3.2
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 tax 0.1 0.1 0.3 0.2
Total income tax expense 0.1 0.1 0.3 0.2
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

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Shares Jul-Dec 2021 Jul-Dec 2020 2021 2020
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

CONSOLIDATED BALANCE SHEET, SUMMARY

EUR million 31 Dec 2021 31 Dec 2020
Non-current assets 26.3 21.9
Current assets 7.2 8.2
Total assets 33.5 30.1
Equity 18.6 19.4
Total liabilities 14.9 10.7
Long-term liabilities 4.4 2.7
Short-term liabilities 10.5 8.0
Total equity and liabilities 33.5 30.1

Additional information:

Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]

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

About Next Games

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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. www.nextgames.com

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8186

The Arbitral Tribunal Has Confirmed Netflix, Inc.’s Redemption Right Regarding Next Games Corporation’s Minority Shares

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Next Games Corporation Company Release August 19, 2022 at 2:45 p.m. (EEST)

The arbitral tribunal has confirmed Netflix, Inc.’s redemption right regarding Next Games Corporation’s minority shares

The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today on August 19, 2022 confirmed that Netflix, Inc. (“Netflix”) has the right to redeem the minority shares in Next Games Corporation (“Next Games”) and that Netflix has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest possibly accruing thereon.

Next Games announced on 9 August 2022 that the Board of Directors of Next Games had decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”) to occur as soon as possible after Netflix has received title to all the Next Games shares subject to redemption in the redemption proceedings.

The title to the minority shares is transferred to Netflix once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 22 August 2022. The minority shareholders of Next Games, following the placing of the security and the transfer of ownership, are entitled to receive only the redemption price and the possible interest payable thereon. Nasdaq Helsinki Ltd. will issue a separate release regarding the delisting of Next Games’ shares from First North.

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Next Games Corporation

Additional information:

Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]

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

About Next Games

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Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com

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8186

The Arbitral Tribunal Has Confirmed Netflix, Inc.’s Redemption Right Regarding Next Games Corporation’s Minority Shares

Published

on

Next Games Corporation Company Release August 19, 2022 at 2:45 p.m. (EEST)

The arbitral tribunal has confirmed Netflix, Inc.’s redemption right regarding Next Games Corporation’s minority shares

The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today on August 19, 2022 confirmed that Netflix, Inc. (“Netflix”) has the right to redeem the minority shares in Next Games Corporation (“Next Games”) and that Netflix has the right to obtain title to the minority shares by placing a security approved by the arbitral tribunal for the payment of the redemption price and the interest possibly accruing thereon.

Next Games announced on 9 August 2022 that the Board of Directors of Next Games had decided to apply for the termination of multilateral trading in Next Games’ shares and for the delisting of Next Games’ shares from the First North Growth Market Finland marketplace’s list (“First North”) to occur as soon as possible after Netflix has received title to all the Next Games shares subject to redemption in the redemption proceedings.

The title to the minority shares is transferred to Netflix once a security approved by the arbitral tribunal has been placed, which is expected to take place on or about 22 August 2022. The minority shareholders of Next Games, following the placing of the security and the transfer of ownership, are entitled to receive only the redemption price and the possible interest payable thereon. Nasdaq Helsinki Ltd. will issue a separate release regarding the delisting of Next Games’ shares from First North.

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Next Games Corporation

Additional information:

Saara Bergström, Chief Communications Officer
+358 (0) 40 588 3167
Media: [email protected]
Investor relations: [email protected]

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

About Next Games

Advertisement

Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com

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8186

Next Games Reschedules Publication of Half-Year Review 1 Jan – 30 Jun 2022

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Next Games Corporation Company Release 12 August 2022 at 9:30 a.m. (EEST)

Next Games reschedules publication of its Half-Year Review 1 Jan – 30 Jun 2022 to Wednesday 31 August 2022. The previously planned publication date for the Half-Year Review was 19 August 2022.

The reason for the postponement is integration work relating to the previously announced, completed tender offer for all shares in Next Games by Netflix, Inc., including expansion of Finnish, international and U.S. accounting standards as well as changes in reporting systems, which delays the preparation of the Half-Year Review.

Additional information:

Saara Bergström
Chief Communications Officer
+358 (0) 50 483 3896
[email protected]

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

About Next Games

Next Games redefines the way entertainment franchises transform into engaging mobile games with an authentic and social fan experience at the heart. Next Games creates compelling fans-first interactive experiences by combining the stories of well-known movies and TV series with interesting game mechanics. An unwavering focus on fans is at the core of the studio’s development. Next Games has recently been acquired by Netflix as a core internal studio to build games on the Netflix platform. www.nextgames.com

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