Analyst Group’s comment on Trophy Games acquisition and management appointment

On August 30, 2022 Trophy Games Development A/S (“Trophy Games” or the “Company”) released statements regarding a new acquisition and a new management appointment.

Acquisition in line with Analyst Group’s expectations

Trophy Games has acquired 80% of the shares in PIU-PIU LT, a Lithuanian game developer for EUR 300t, which is to be paid fully in cash. As of now, PIU-PIU LT has only developed one game, SkyHaven, an airline tycoon game targeted toward PC, which will be added to the successful Transport Series, which as of H1-22 is Trophy Games biggest revenue generating segment and will compliment it well by generating future cost-synergies. SkyHaven, which is currently in an early access stage on Steam and expected to be released in full during H2-22, hasn’t lived up to expectations until this point, where Trophy Games by its earlier success is considered to bring the right know how as to make it another hit. The Company is confident in generating DKK 1-5m during the first year after full release by integrating PIU-PIU LT’s five developers, of which two are founders. A risk mentioned by Analyst Group is the supply of developers close to Copenhagen, this acquisition show once again that the Company are able to mitigate this risk by looking for opportunities throughout Europe. As Analyst Group already expected the Transport Series to be the leading revenue driver from now on, our forecast for 2022 and 2023 remains unchanged as of now.

New COO is ready for the challenge

The Company has promoted Theis Barenkopf Dinesen to Chief Operating Officer after being hired as an interim position as Organizational Progress and Collaboration Manager last year. With prior history as a Product Development Consultant from 2014 to 2017 within Trophy Games and successfully streamlining some of the Company’s operations in the previous year, the COO-role is a natural progression for Barenkopf Dinesen and something Analyst Group sees as reaffirming for Trophy Games future.