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Published: 2022-04-14 13:02:14 CEST
Nasdaq Tallinn
Announcement from the exchange

Punktid Technologies AS sales results for Q1 2022 – 37% increase in mediation service compared to the same period last year

 

The sales of Punktid Technologies AS (hereinafter “Punktid”) in the first quarter of 2022 were EUR 655,000 in total, of which EUR 458,000 constituted the gross amount of the Punktid platform mediation service (money received from customers through the Punktid platform) and which increased by 37% compared to the same period in 2021 (the gross amount of the mediation service in Q1 2021 was EUR 335,000). The mediation service includes the online sale of digital codes for video games, Nintendo, PlayStation and Xbox through the Punktid sales platform managed by Gamekeys OÜ which belongs to the Punktid group, both in Estonia and abroad.

"Despite the fact that all of our energy and time was spent preparing for the initial public offering (IPO), we are pleased to announce that due to organic growth in the first quarter we managed to outperform the same period last year. We were able to achieve this with our own resources and no additional investments. After the IPO, all of our time and contribution will be allocated to expansion of our operation and the resources to be obtained from the IPO provide us a good leverage to grow faster than planned,” said Hannes Niid, member of the Management Board of Punktid. 

The tables below illustrate the sales results of the Punktid group (Punktid Technologies AS together with its subsidiaries Gamekeys OÜ and HVK Business OÜ) in the first quarter of 2022 in total, including both the gross amount of mediation service of Gamekeys OÜ and wholesale results by HVK Business OÜ (Table 1), and the gross amounts received from mediation service in the first quarter of this year compared to the results of the same period in 2021 (Table 2). 

Table 1*

Total sales of the Punktid group in Q1 2022

Total sales of Punktid group   655,000 €
Wholesale revenue of HVK Business OÜ 197,000 €
Gross amount of Gamekeys OÜ mediation service 458,000 €

*The numbers in the table have been rounded to the nearest thousand euros. The figures in the table are not yet final (i.e., these may change slightly) as the first quarter of 2022 has not yet been closed in accounting. Sales prognosis by years can be found on page 67 of the company description of Punktid. The sales target for this year is set at a total of € 2,805,000. 

Table 2**

Comparison of the gross amount of mediation service in the first quarters of 2021 and 2022 by domains at target markets 

2021 Q1 335,000 €            
2022 Q1 457,000 €            
change 37%            
               
  sales in total Punktid.ee Punktid.lv Punktid.com Punktid.ru Punktid.lt Punktid.fi
March 2021 122,000 € 87,000 € 21,000 € 8,000 € 6,000 € 114 €  -   €
March 2022 189,000 € 74,000 € 18,000 € 84,000 € 5,000 € 1,476 € 7,000 €
change 55% -15% -14% 950% -16% 1195% -
February 2021 102,000 € 66,000 € 19,000 € 12,000 € 5,000 €  98 € 287 €
February 2022 128,000 € 90,000 € 17,000 € 13,000 € 7,000 €  88 € 1,000 €
change 25% 36% -10% 8% 40% -10% 248%
January 2021 111,000 € 77,000 € 15,000 € 11,000 €  7,000 €  141 € 577 €
January 2022 141,000 € 97,000 €  20,000 € 16,000 €  7,000 €  300 € 417 €
change 27% 26% 33% 45% 0% 113% -28%

**The numbers above 2,000 in the table have been rounded to the nearest thousand euros. The figures in the table are not yet final (i.e., these may change slightly) as the first quarter of 2022 has not yet been closed in accounting. The sales via Ukraine domain, Punktid.com.ua are not reflected in the table because the sales under this domain are conducted by the franchisee under a franchise agreement.

The gross amount of mediation service under the Estonian domain (Punktid.ee) increased by 13% in the first quarter of 2022 compared to the same period in 2021. The gross amount of mediation service provided in the Latvian market (via Punktid.lv) as compared to the same period remained the same. This is explained by the fact that since the beginning of 2022 no additional investments have been made for expansion in the Latvian market. Through the international English language domain of Punktid.com, the mediation service has developed and grown organically, by 264% in the first quarter of this year compared to the same period last year. Mediation service provided through the Russian-language domain (Punktid.ru) includes all sales generated through this domain and are mostly from customers in the Baltic States, the growth in the first quarter of 2022 compared to the same period last year was 6%. Punktid has not yet started with marketing in Lithuania (Punktid.lt) and Finland (Punktid.fi), but organically the gross amount in the first quarter of 2022 has increased by 428% and 874% respectively compared to the same period last year.

The largest increase took place in March 2022 via the international English language domain Punktid.com and the Lithuanian domain Punktid.lt domain – with regard to Punktid.com domain, an increase of 950% and through Punktid.lt domain 1195% compared to March 2021.

 

Number of orders and new customers in the first quarter of 2022 

In the first quarter of 2022, a total of 13,676 orders were placed in the Punktid online sales environment, of which 5,081 in January, 4,303 in February and 4,292 in March. A total of 2,583 new customers were added during the same period – 969 in January, 707 in February and 907 in March.  

The information published in this announcement on the gross amount of mediation service is not reflected in the financial statements of Punktid as according to the Estonian Financial Reporting Standard (EFS), sales revenue from the mediation service is only the commission, but not the gross amount collected under agreements. Nevertheless, Punktid assesses its growth and success solely on the basis of sale by Gamekeys OÜ (i.e., the gross amount of the mediation service) and the public offering of shares starting on 19 April 2022 also seeks to raise capital only to develop this business line. Punktid will provide investors with an overview of sales results on a quarterly basis.

 

Contacts for additional information

Hannes Niid
Management Board Member of Punktid Technologies AS

Tel: +372 53 095 817
E-mail: invest@punktid.com  

Punktid Technologies AS is a holding company established and operating in Estonia which has two subsidiaries, Gamekeys OÜ and HVK Business OÜ. Punktid group owns and develops the largest online sales environment for digital codes of video games, Nintendo, PlayStation and Xbox in Estonia, whereas:

  • The main activity of Gamekeys OÜ is the mediation of the world's best-known video games and video game gift cards in an online environment and the related customer service and marketing both in Estonia and abroad; and
  • The main activity of HVK Business OÜ is the wholesale of video games and gift cards for business customers, sale of the right to use the Punktid.com platform to Gamekeys OÜ and development of the Punktid.com IT project.

The public offering of Punktid Technologies AS shares starts on 19 April 2022 at 10:00 and ends 29 April 2022 at 16:00 (Estonian time). More detailed terms and conditions of the offering are provided in the stock exchange announcement published on 1 April 2022. The offering is based on the company description prepared by Punktid which is available in Estonian at website https://punktid.ee/investor.