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Kamux Corporation’s Financial Statements Bulletin for January 1–December 31, 2023: Revenue grew and adjusted operating profit increased significantly during the fourth quarter

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Kamux Corporation, Financial Statement Release, 1.3.2024 at 9:00

HÄMEENLINNA, Finland, March 1, 2024 /PRNewswire/ — Kamux Corporation’s Financial Statements Bulletin for January 1—December 31, 2023: Revenue grew and adjusted operating profit increased significantly during the fourth quarter

This is a summary of Kamux Corporation’s Financial Statements Bulletin for January 1—December 31, 2023. The complete report is attached to this release and is also available at the company website at kamux.com.

The figures in parentheses refer to the comparison period, i.e., the same period in the previous year, unless stated otherwise.

October—December in brief

Revenue increased by 8.4%, totaling EUR 241.6 million (222.9)Gross profit increased by 23.4% to EUR 26.1 million (21.2), or 10.8% (9.5) of revenueAdjusted operating profit (EBIT) increased by 164.1% to EUR 5.5 million (2.1), or 2.3% (0.9) of revenueOperating profit (EBIT) increased by 176.9% to EUR 4.5 million (1.6), or 1.9% (0.7) of revenueThe number of cars sold increased by 11.4% to 16,354 cars (14,681)Like-for-like showroom revenue growth was 8.2% (-10.9)Basic and diluted earnings per share were EUR 0.06 (0.00)

January—December in brief

Revenue increased by 3.5%, totaling EUR 1,002.1 million (968.7)Gross profit increased by 9.0% to EUR 102.5 million (94.1), or 10.2% (9.7) of revenueAdjusted operating profit (EBIT) increased by 3.2% to EUR 18.0 million (17.5), or 1.8% (1.8) of revenueOperating profit (EBIT) decreased by -7.1% to EUR 15.8 million (17.0), or 1.6% (1.8) of revenueThe number of cars sold increased by 8.5% to 68,257 cars (62,922)Like-for-like showroom revenue growth was 2.9% (0.6)Basic and diluted earnings per share were EUR 0.24 (0.27)The Board of Directors proposes a dividend of 0.17 EUR per share (0.15) to be distributed for the year 2023. The dividend is proposed to be paid in two installments. The proposed dividend is 71 % of the profit per share for the fiscal year 2023 (55).Tapio Pajuharju assumed his role as CEO of Kamux on June 1, 2023. Kamux’s founder and previous CEO Juha Kalliokoski stepped down from the Company’s operative management on June 30, 2023.

Key Figures

EUR million

10−12/2023

10−12/2022

Change, %

1−12/2023

1−12/2022

Change, %

Revenue

241.6

222.9

8.4 %

1,002.1

968.7

3.5 %

Gross profit

26.1

21.2

23.4 %

102.5

94.1

9.0 %

as percentage of revenue, %

10.8 %

9.5 %

10.2 %

9.7 %

Operating profit (EBIT)

4.5

1.6

176.9 %

15.8

17.0

-7.1 %

as percentage of revenue, %

1.9 %

0.7 %

1.6 %

1.8 %

Adjusted operating profit*

5.5

2.1

164.1 %

18.0

17.5

3.2 %

as percentage of revenue, %

2.3 %

0.9 %

1.8 %

1.8 %

Revenue from integrated services

15.4

15.3

0.6 %

53.0

52.9

0.2 %

as percentage of revenue, %

6.4 %

6.9 %

5.3 %

5.5 %

Number of cars sold

16,354

14,681

11.4 %

68,257

62,922

8.5 %

Gross profit per sold car, EUR

1,597

1,442

10.8 %

1,502

1,495

0.5 %

Sales growth of like-for-like showrooms, %

8.2 %

-10.9 %

2.9 %

0.6 %

Net debt

53.8

59.1

-9.0 %

Inventories

117.2

114.1

2.7 %

Inventory turnover, days

46.9

51.5

-8.9 %

Capital expenditures

0.6

0.7

-13.2 %

1.8

3.1

-42.9 %

Average number of employees during the period

885

883

0.2 %

Return on equity (ROE), %

8.7 %

10.1 %

Return on investment (ROI), %

6.6 %

7.2 %

Equity ratio, %

51.9 %

53.2 %

Earnings per share, basic and diluted, EUR

0.06

0.00

1473.2 %

0.24

0.27

-11.6 %

*) Operating profit adjusted for special items related to strategic planning, legal processes, taxes from previous financial years, own real estate operations and other items, totaling EUR 1.0 million for the fourth quarter of 2023 and totaling EUR 2.2 million for 1−12/2023 (10-12/2022: EUR 0.5 million and 1−12/2022: EUR 0.4 million).

CEO Tapio Pajuharju:

“The used car market stabilized in all operating countries during 2023 and demand developed in a positive direction. However, volumes were still at a lower level than in 2021. It is great that despite the challenging early part of the year, we succeeded in our most important goal, i.e. improving our profitability. I am particularly pleased about our success in Finland, where the entire second half of the year was commercially excellent, and where we have further strengthened our market position. In Sweden, we continue to work to improve profitability, but even there our systematic work brought results and gross profit developed positively. In Germany, we opened two new showrooms in areas new to us during the year.

During the year, we also succeeded in reversing the trend in the volume of cars sold and sold a total of more than 68,000 cars (+8.5%), of which 16,354 in the last quarter of the year (+11.4%). In Finland, both Q3 and Q4 were all-time-high quarters in terms of the number of cars sold. In Sweden, the market was challenging and our focus on improving profitability was to some extent reflected in the decreasing number of cars sold. In Germany, the number of cars sold grew strongly, even though the second new showroom was only opened at the very end of the year and the market development in our core region of Schleswig-Holstein was significantly weaker than in the entire country.

With the strong development of our Finnish operations, we also reached an important milestone as our annual revenue exceeded one billion euros, marking an increase of 3.5% from the previous year. In the last quarter of the year, our revenue grew by 8.4% and was EUR 242 million. The price level of used cars remained stable during the year but prices continued to be at a lower level than in the previous year, which is also reflected in the revenue growth percentages.

At the end of the year, the purchasing market was normal in all operating countries. Despite the easing of inflation, consumers were still quite cautious and were generally looking for more affordable and economical cars. The electrification of the car fleet progressed in 2023, but e.g. the development of electricity and fuel prices and changes in the prices of new cars affected the demand for rechargeable used cars, as many consumers hesitated in their decisions and postponed the purchase of a car while waiting for more information. The number of plug-in hybrids and EV’s sold by Kamux increased by 67% in the fourth quarter compared to the corresponding period of the previous year and by 32% for the whole year.

I am particularly pleased with the gross profit development, and we’ve done great systematic work to improve the gross profit, especially in Finland and Sweden. As a result of the good gross profit development, our adjusted operating profit developed positively despite being burdened by e.g. increased sales incentives following the good development in the number of cars sold and car margin. In addition, the operating profit was burdened by costs related to opening new showrooms in Germany and the significant investments in the processing of cars and customer service that were begun in the third quarter. The operating profit was also negatively impacted by the increased costs resulting from the capacity increase in Sweden, especially as the capacity has not been brought to full productivity. In addition, we have identified misconduct in our Swedish operations. Corrective measures in relation to misconduct are ongoing. The Group’s adjusted operating profit was EUR 5.5 million (+164%) in the fourth quarter and EUR 18.0 million (+3.2%) for the whole year. Operating cash flow was strong, considering the season.

The first eight months as the CEO of Kamux have been dynamic and rewarding. I would like to offer warm thanks to the skilled and motivated Kamux employees for their good work and continuous improvement. I would also like to thank all our customers and partners for their trust. The maintenance measures and updates of the Kamux concept have progressed as planned and we will continue them in 2024. Our strategy update is also in its final stages, and we will publish our updated strategy at the Capital Markets Day on March 20. Welcome!”

Outlook for the year 2024

Kamux expects its adjusted operating profit for 2024 to exceed its 2023 adjusted operating profit, which was EUR 18.0 million.

Long-term targets

Kamux will publish its updated strategy and long-term targets on Wednesday, March 20, 2024.

Significant events after the reporting period

On January 22, 2024, Kamux announced that the Board of Directors of Kamux Corporation had resolved to establish a matching share plan for the recognized rising key employees of the Group. The Green Lions Plan 2024–2029 includes four (4) matching periods, covering the years 2024–2026, 2025–2027, 2026–2028 and 2027–2029. The prerequisite for participation in the plan and receiving a reward is that a participant has personally acquired Kamux shares within the limits set by the Board of Directors. Furthermore, payment of the reward is based on the participant’s valid employment contract upon reward payment. The target group of the first matching period of January 1, 2024 – December 31, 2026, consists of approximately 70 recognized future key employees, who are not included in Kamux’s other share-based incentive plans. The rewards to be paid on the basis of the plan correspond to the value of an approximate maximum total of 270,000 Kamux Corporation shares (estimated using the closing share price of January 17, 2024, EUR 5.23), including also the proportion to be paid in cash. The rewards from the first matching period will be paid by the end of March 2027.

On January 26, 2024, Kamux announced the Shareholders’ Nomination Board’s proposals for the Annual General Meeting 2024. The Shareholders Nomination Board proposes that the company’s Board of Directors shall have seven (7) members, and that the current members Juha Kalliokoski, Terho Kalliokoski, Antti Mäkelä, Harri Sivula and Jaana Viertola-Truini be re-elected as members of the Board of Directors and Maren Kroll and Kati Riikonen be elected as new members of the Board of Directors. Additionally, the Shareholders’ Nomination Board proposes to the AGM that Terho Kalliokoski be re-elected as Chairperson of the Board of Directors and Harri Sivula be re-elected as Vice Chairperson of the Board of Directors. According to the evaluation made by the nominees themselves and by the Shareholders’ Nomination Board, Juha Kalliokoski is dependent of both the company and its significant shareholders whilst the other nominees are independent of the company and of its significant shareholders. In addition, the Shareholders’ Nomination Board proposes to the AGM that the annual remuneration of the members of the Board of Directors and the committee fees be modestly raised.

On February 1, 2024, Kamux announced that a total of 2,092 Kamux Corporation’s shares had been returned free of consideration to Kamux Corporation in accordance with the terms and conditions of the Corporation’s share-based incentive scheme 2020 and 2021. After the return, Kamux Corporation held a total of 9,053 own shares.

On March 1, 2024, Kamux announced that the Board of Directors of Kamux Corporation has decided to approve a new long-term incentive Plan for the Group’s key persons for 2024–2026. The Plan commences at the beginning of 2024 and it is divided into three one-year performance periods. For the 2024 performance period, the payment of the potential reward from the Plan is based on exceeding the company’s operating profit threshold set by the Board of Directors, as well as on the development of earnings per share (ESP) and total shareholder return (TSR) and exceeding a certain ESG target indicator on an annual basis. The Board of Directors has selected 38 key persons, including the CEO, to participate in the Plan. In accordance with the terms and conditions of the Plan, the Board of Directors may decide during the performance period on the admission of new participants to the Plan. If a participant’s employment or service ends before the reward payment, the reward will not, as a general rule, be paid. If the maximum targets set for the performance criteria of the performance period 2024 are reached, the total amount of rewards to be paid based on the Plan for the performance period 2024 is approximately EUR 2.5 million (gross), corresponding to an estimated maximum of approximately 456,000 Kamux shares, when the value is calculated based on the volume-weighted average share price of Kamux’s share in January 2024. In addition, the Board of Directors has resolved that the long-term share-based incentive plan for 2023–2026 for CEO Tapio Pajuharju, that was announced on June 21, 2023, will be discontinued as of January 1, 2024, and that CEO Tapio Pajuharju will participate in the company’s new share-based incentive plan described above as of January 1, 2024. The Board of Directors has decided on a fixed maximum reward for the CEO for the performance period 2024. The maximum reward to be paid for the performance period 2024 is a maximum of 123,000 shares.

Kamux Corporation’s financial reporting and AGM in 2024

Publication schedule for Kamux Corporation’s financial reporting in 2024 is as follows:

Interim Report for January—March 2024                   May 17, 2024Half-Year Report for January—June 2024                 August 16, 2024Interim Report for January—September 2024           November 8, 2024

The Annual Report for 2023 including Financial Statements will be published on the week commencing March 25, 2024.

The Annual General Meeting of Kamux Corporation is scheduled to be held on April 18, 2024.

News conference

News conference for investors, analysts and media will be held today, Friday, March 1, 2024, at Sanomatalo, Flik Studio Eliel, 1st floor, Töölönlahdenkatu 2, Helsinki at 11:00 EET in English. CEO Tapio Pajuharju and CFO Jukka Havia will present the Financial Statements.

The conference can be followed as a live webcast at https://kamux.videosync.fi/q4-2023

Participation by conference call:

You can access the teleconference by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference. If you wish to ask a question, please dial *5 on your telephone keypad to enter the queue.
https://palvelu.flik.fi/teleconference/?id=50048520
 

For further information, please contact:
CEO Tapio Pajuharju, tel. +358 50 577 4200 
CFO Jukka Havia, tel. +358 50 355 3757
Head of Communications & IR Katariina Hietaranta, tel. +358 50 557 6765  

Kamux Corporation
Communications

Kamux is a retail chain specialized in used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has a total of 78 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux’s revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com  

The following files are available for download:

https://mb.cision.com/Main/17647/3938789/2639902.pdf

Kamux Corporation_Financial Statements Bulletin_2023

 

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NASA Johnson Invites Proposals to Lease Vibration Test Facility

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November 14, 2024

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HOUSTON, Nov. 14, 2024 /PRNewswire/ — NASA’s Johnson Space Center is seeking proposals for the use of its historic, but underused, Vibration and Acoustic Test Facility. Prospective tenants must submit facility walk-through requests by Monday, Nov. 18.

Final proposals are due by 12 p.m. EST Monday, Dec. 16, and must promote activities that will build, expand, modernize, or operate aerospace-related capabilities at NASA Johnson and help preserve the historic and iconic building through preservation and adaptive reuse.

NASA plans to sign a National Historic Preservation Act (NHPA) lease agreement for the facility, also known as Building 49, for a five-year base period and one five-year extension to be negotiated between NASA and the tenant. To request a walk-through, send an email to hq-realestate@mail.nasa.gov. 

“This historic facility has been used for decades to ensure the success and safety of all human spaceflight missions by putting engineering designs and hardware to the ultimate stress tests,” said NASA Johnson Director Vanessa Wyche. “For more than 60 years, NASA Johnson has been the hub of human space exploration and this agreement will be a vital part of the center’s efforts to develop a robust and durable space economy that refines our understanding of the solar system and space exploration.”

All proposals must adhere to the guidelines detailed in the Agency Announcement for Proposals describing concept plans for development of the property, including any modifications proposed to the building; a statement of financial capability to successfully achieve and sustain operations, demonstrated experience with aerospace-related services or other space-related activities, and a detailed approach to propelling the space economy.

The nine-story building complex has a gross square footage of 62,737 square feet and consists of a north wing measuring 62 feet long, 268 feet wide and 106 feet tall, and a central wing about 64 feet long and 115 feet wide. Building 49 currently houses five laboratories, including the General Vibration Laboratory, Modal Operations Laboratory, Sonic Fatigue Laboratory, Spacecraft Acoustic Laboratory, and Spacecraft Vibration Laboratory. The south administrative portion of the building is not included in the property offered for lease. 

As the home of Mission Control Center for the agency’s human space missions, astronaut training, robotics, human health and space medicine, NASA Johnson leads the way for the human exploration. Leveraging its unique role and location, the center is developing multiple lease agreements, including the recently announced Exploration Park, to sustain its key role in helping the human spaceflight community foster a robust space.

In the coming years, NASA and its academic, commercial, and international partners will see the completion of the International Space Station Program, the commercial development of low Earth orbit, and the first human Artemis campaign missions establishing sustainable human presence on the Moon in preparation for human missions to Mars.

Johnson already is leading the commercialization of space with the commercial cargo and crew programs and private astronaut missions to the space station. The center also is supporting the development of commercial space stations in low Earth orbit, and lunar-capable commercial spacesuits and lunar landers that will be provided as services to both NASA and the private sector to accelerate human access to space. Through the development of Exploration Park, the center will broaden the scope of the human spaceflight community that is tackling the many difficult challenges ahead.

Learn more about NASA Johnson’s efforts to collaborate with industry partners:

https://www.nasa.gov/johnson/frontdoor/ 

NASA Johnson Space Center news releases and other information are available automatically by sending an Internet electronic mail message to listserv@listserver.jsc.nasa.gov.  In the body of the message (not the subject line) users should type “subscribe hsfnews” (no quotes). This will add the email address that sent the subscribe message to the news release distribution list. The system will reply with a confirmation via E-mail of each subscription.  Once you have subscribed you will receive future news releases via e-mail.

 

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SOURCE NASA

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Cabana Partners with Virginia Department of Veterans Services to Provide Comprehensive, Free Mental Health Support for Veterans, Guard/Reserve Members, and Their Families

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November 14, 2024

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RICHMOND, Va., Nov. 14, 2024 /PRNewswire/ — Cabana, a modern mental health provider offering confidential, tech-enabled support, has partnered with the Virginia Department of Veterans Services (DVS) to provide free, comprehensive mental health resources to Virginia’s veterans, Guard and Reserve members, as well as their spouses and caregivers. This collaboration expands access to Cabana’s digital mental health services, including live peer support groups moderated by Virginia-certified Veteran Peer Specialists.

Originally developed through research and development initiatives with the U.S. Air Force, Cabana’s services are designed to meet the unique needs of military and veteran communities. With this partnership, eligible Virginia users gain full access to Cabana’s digital suite, which includes the full range of virtual, professionally facilitated groups offered by Cabana, as well as dedicated Virginia Veteran peer-led support groups. Participants can connect discreetly on topics such as transitioning to civilian life, managing family relationships, and coping with stress, all within a secure and confidential environment accessible from any device.

David Black, Founder and CEO of Cabana, underscored the mission behind the partnership: “We’re honored to work with the Virginia Department of Veterans Services to offer a holistic mental health solution for Virginia’s military-connected community. With Virginia-certified Veteran Peer Specialists and our full array of live support groups, we’re providing a powerful, confidential resource that veterans and military families can rely on, whenever and wherever they need it.”

Key Features of the Partnership:

Comprehensive Access to Support: Virginia veterans, Guard/Reserve members, and their families will have unrestricted access to all live virtual groups available through Cabana, in addition to specialized peer-led groups run by Virginia-certified Veteran Peer Specialists.Support for Families and Caregivers: The initiative includes spouses and caregivers, addressing the unique mental health needs of military-connected families through sessions tailored to issues like family dynamics, stress management, and the transition to civilian life.Confidential and Flexible Access: Cabana’s services are available on mobile and desktop devices, providing Virginia’s veterans and their families with an easily accessible, cost-free solution for mental health support.

This collaboration highlights Cabana’s commitment to supporting the mental well-being of those who serve and their families. By joining forces with the Virginia Department of Veterans Services, Cabana seeks to strengthen the resilience and wellness of Virginia’s military community.

For more information on the partnership between Cabana and the Virginia Department of Veterans Services, please contact:

Nick Armstrong, Ph.D.
Head of Public Sector, Cabana
nick@cabanahealth.org

About Cabana™
Cabana is a leading, modern mental health provider offering confidential, tech-enabled support solutions tailored to the needs of diverse communities. Through live, professionally moderated group sessions, evidence-based content, and adaptable wellness tools, Cabana helps individuals proactively manage their mental health. Our mission is clear: to make mental health care more accessible through technology and human connection.

About the Virginia Department of Veterans Services (DVS)

The Virginia Department of Veterans Services (DVS) is a state government agency with more than 50 locations across the Commonwealth of Virginia. DVS traces its history to 1928 and the establishment of the Virginia War Service Bureau to assist Virginia’s World War I veterans. Today, DVS assists veterans and their families in filing claims for federal veterans benefits; provides veterans and family members with linkages to services including behavioral health, housing, employment, education, and other programs. The agency operates long-term care facilities offering in-patient skilled nursing care, dementia/memory care, and short-term rehabilitation for veterans; and provides an honored final resting place for veterans and their families at three state veterans cemeteries. It operates the Virginia War Memorial, the Commonwealth’s tribute to Virginia’s men and women who gave the ultimate sacrifice from World War II to the present. For more information, please visit www.dvs.virginia.gov.

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SOURCE Cabana

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East Side Games Group Reports Third Quarter 2024 Financial Results

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November 14, 2024

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Revenue of $21.4M in Q3 2024 and $62.8M Year to DateA-EBITDA of $2.56M in Q3 2024 and $9.2M Year to DatePOWER RANGERS: MIGHTY FORCE launched globally

VANCOUVER, BC, Nov. 14, 2024 /CNW/ – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), is pleased to announce its financial results for the third quarter ended September 30, 2024. All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated. Building on the momentum from Q2, the company achieved its first growth quarter of the year, reporting a top-line revenue of $21.4 million, a 4% increase quarter-over-quarter and a 3% increase year-over-year.

The company’s adjusted EBITDA for the quarter was $2.56 million, representing a 12% margin and marking the eighth consecutive profitable quarter above $2.5 million. East Side Games Group continues to demonstrate strong performance metrics across its core portfolio, with an average daily user count (DAU) of 236,000, a stickiness rate of 24%, and an average revenue per daily active user (ARPDAU) of $0.99.

“Our focus on profitability within our existing portfolio has paid off, and we are excited to further enhance our user acquisition strategies,” said Jason Bailey, CEO of East Side Games Group. “With $8.3 million in cash—our highest balance since Q2 2022—we are well-positioned to invest in our future game launches and bolster our share buyback program.”

One of the key drivers of growth this quarter was the launch of POWER RANGERS: MIGHTY FORCE in August, which quickly garnered nearly 30,000 daily active users and demonstrated impressive return on advertising spend (ROAS) figures.

In Q3, the company also enhanced its revenue generation through innovative strategies. The introduction of bi-monthly season passes for popular titles like Trailer Park Boys: Greasy Money and Cheech and Chong: Bud Farm resulted in a remarkable 40% increase in season pass revenue.

In a major collaboration, East Side Games Group partnered with BBC and Paramount to create the Intergalactic Friendship Day crossover event between Star Trek Lower Decks: The Badgey Directive and Doctor Who: Lost in Time, generating substantial organic traffic and setting new ARPDAU records.

Looking forward to Q4, East Side Games Group is excited to introduce team-based cooperative and competitive play features into titles such as Trailer Park Boys: Greasy Money and RuPaul’s Drag Race Superstar, anticipating a significant boost in player engagement and monetization.

Moreover, the company is preparing to launch Trailer Park Boys: Greasy Money on the Epic Games Store, expanding its reach in a new mobile marketplace with favorable revenue-sharing terms. This is a very exciting opportunity, only being afforded to a few game studios.

Finally, East Side Games Group is thrilled to announce our upcoming title, RuPaul’s Drag Race Match Queen, developed in partnership with Funkitron and World of Wonder. Slated for a 2025 release, this hybrid match-3 game combines beloved gameplay elements with captivating fashion and character features, catering to the passionate fanbase of RuPaul’s Drag Race.

Mike Edwards will be stepping down from the ESGG Board of Directors to focus on other pursuits, effective immediately. ESGG thanks him for his invaluable guidance over the past 12 years and is currently in discussions with several highly qualified candidates for his replacement.

Three Months Ended Sep 30, 2024 Financial highlights

For the quarter ended September 30th, 2024, revenue was $21.4M.Q3 2024 a-EBITDA of $2.56M and 12% a-EBITDA margin.Cashflow for the Company for the quarter ended September 30, 2024 increased by $700k, ending at $8.3M.Daily Active Users in Q3 were 236k, with an ARPDAU of $0.99On November 14, 2023, the Company announced a renewal of its Normal Course Issuer Bid (“NCIB”) authorizing the Company to purchase 4,076,819 of its shares. Through September 30, 2024, the Company purchased 1,540,719 shares at an average price of $0.76. The company continues to buy back stock as restrictions allow.

Certain information provided in this news release is extracted from the consolidated financial statements (the “Financial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the quarter ended September 30, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information. The Financial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.

Earnings Call Video

ESGG will release its third-quarter 2024 financial results and business outlook on its investor relations website https://eastsidegamesgroup.com/investors/financial-information on Thursday, November 14th, 2024, at approximately 2:00 p.m. Pacific Time.

ABOUT EAST SIDE GAMES GROUP

East Side Games Group is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: The Office: Somehow We Manage, Star Trek: Lower Decks – The Badgey Directive, Bud Farm Idle Tycoon, Doctor Who: Lost in Time, RuPaul’s Drag Race Superstar, AEW: Rise to The Top, Cheech and Chong Bud Farm, and Trailer Park Boys: Grea$y Money.

We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group Inc.

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