In Q1 2022, the consolidated bookings from Ten Square Games Group Users amounted to 142.6M PLN, and the combined revenue equaled 150.3M PLN.
In the first quarter of 2022, bookings from Ten Square Games Group players were lower by 15% compared to Q4 2021, which was affected by the loosening of COVID-19 restrictions in key markets of North America and Western Europe. The almost complete repeals of previous restrictions have been reflected in the behaviors and shopping decisions—an additional element negatively impacting player sentiment is the global economic situation, including uncertainty connected to record increases in inflation in many countries. Other factors significantly affecting the Groups results were the quality of acquired traffic as well as the situation related to the war in Ukraine. In early March 2022, the Group decided to block players from Russia and Belarus from downloading, installing, using and making purchases in its game, which in particular had a negative impact on the results of Fishing Clash, which saw 6.5% of its bookings in 2021 come from Russian players.
“The Groups results in Q1 2022 are not satisfying for us and are below TSG ambitions. Despite market challenges affecting the entire online entertainment industry, we are realizing a range of activities to increase efficiency and an increase in revenue for products connected to it. We are working on developing our key titles, Fishing Clash and Hunting Clash, and creating value in our affiliated entities, that is, Rortos and Gamesture. Each of the pillars of our strategy is assigned an action plan, and we’re expecting to see results this year.” Maciej Zużałek, Ten Square Games’ Chief Executive Officer, says.
Fishing Clash remains a key product for the Ten Square Game Group, having the most significant impact on its revenue. In Q1 2022, bookings for this title amounted to 95.8M PLN, which equaled 67% of all consolidated bookings. However, a noteworthy increase in this area was made by Hunting Clash, which achieved record bookings in Q1 2022, amounting to 32.3M PLN.
Bookings from games in the Rortos portfolio also had a more significant impact on Ten Square Games’ results. Rortos is a leader in the mobile flight simulator segment, acquired by TSG in July 2021. In Q1 2022, Rortos bookings amounted to 7.5M PLN, which marks a 9% increase compared to Q4 2021. In March 2022, Ten Square Games S.A. took over 24.8% of shares in Gamesture, a company specializing in games in the RPG genre. Its two main titles are Questland and Slash & Roll, while two other games are at the production stage.
“We are pleased with the performance of Rortos’ titles and the successful launch of ‘Wings of Heroes.’ Our choices in the acquisition area are also validated by the dynamic growth of Gamesture, which exceeds our initial expectations,” Maciej Zużałek adds.
In accordance with our previously-presented plan, the Group is creating new titles. This year has seen two debuts — ”Football Elite” and “Wings of Heroes,” which had test launches in a few most promising markets. “Undead Clash” and “Fishing Master” will be presented in Q4 2022.
In Q1 2022, the Ten Square Games Capital Group made 25.6M PLN net profit, while its corrected EBITDA amounted to 41.1M PLN.
More information: https://tensquaregames.com/investors/results-center/financial-data/
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