21 march 2019 r.
Consolidated revenues from the sale of Ten Square Games S.A. increased in 2018
more than four times and amounted to PLN 115.3 million (PLN 27 million in 2017, + 326%). EBITDA ratio in 2018 amounted to PLN 45 million (PLN 11 million in 2017, + 309% y / y), and net profit to PLN 36.5 million compared to PLN 8.4 million in 2017 (+ 326% y / y).
The results of the company and the significant increase in the level of sales were influenced above all by the success of the Fishing Clash game, which in 2018 generated approx. PLN 88.8 million in revenues. Fishing Clash is a mobile F2P game, the most popular fishing game in the world in 2018, which premiered in the fourth quarter of 2017.
The next fishing game, Let’s Fish (7 years in the Ten Square Games portfolio) , generated revenues of approx. 16.5 million PLN (PLN 12.8 million in 2017, + 29% y / y /). Revenues from the Wild Hunt game (sports hunting simulator, game debut in mid-2017) increased five-fold year-on-year to the level of PLN 4.9 million.
Ten Square Games products are sold globally through the Google Play mobile app store network, the AppStore, and through the use of web browser channels. In 2018, most payments were generated by the Google Play store (54% in total), the next place was the AppStore with 25%, and 21% of payments were generated by other intermediaries. The geographical distribution of revenues is as follows: Europe 42.2%, North America 41%, Asia 10.9%, South America 2.5%, Australia and Oceania 2.0%, Africa 1.4%.
We are very pleased with the results of 2018 and the success of Fishing Clash. We’ve created a global game that’s interesting for players around the world. We keep introducing further improvements to the game, including new fisheries, new types of fish and actively manage the game through live-ops. We pay a lot of attention to the proper allocation of marketing expenses. In 2018, marketing costs totaled PLN 24 million, of which 98% were incurred on Fishing Clash. Our second game – Let’s Fish generated a very satisfying incomein 2018. Apparently, fishing is the art of patience, so when building our portfolio, we were persistently striving to achieve results that we can now proudly present “- says Arkadiusz Pernal, COO of Ten Square Games.
“Our goal is to create games with a long lifetime and high monetization. As you can see, we were too conservative about the potential of our company. In the incentive program, we assumed the achievement of EBITDA of PLN 26 million in 2018, and we generated as much as PLN 45 million. We are currently working on our next production – Mini Golf and the next hobby title. At the same time, we’re working on two games for women and games in HTML5 technology. The premieres of these games are planned for this and the next year “- adds Arkadiusz Pernal.
“Another dynamic year is ahead of us. We believe that Fishing Clash has not yet reached its full potential and we still want to develop it, which should positively affect monetization with the appropriate marketing support. We work on subsequent titles using the experience we gained. At the same time, we are constantly exploring the market. We notice how the gaming market is becoming more and more competitive year by year. We observe opportunities and niches, which in our opinion are still undeveloped and offer the possibility of expansion. With such dynamic markets as the gaming and new technologies industry, the ability to adapt quickly is our huge asset. We are growing, we are flexible and constantly open to talented ambitious, people “- says Maciej Popowicz, CEO of Ten Square Games.
Before the IPO, the company adopted a dividend policy assuming a payment to shareholders of up to 75% of the consolidated net profit in the form of a dividend. At the end of 2018, the Group had nearly PLN 40 million in cash, and currently the ongoing productions are financed from current funds.
More info: https://tensquaregames.com/investors/
Contact for media: Michał Wierzchowski, cc group
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