OCTOBER – DECEMBER 2024
JANUARY – DECEMBER 2024
A FEW WORDS FROM OUR CEO
We began 2024 with the goal of launching a scalable version of the Fishing Tour and achieving cash flow neutrality. Although we have not yet achieved full cash flow neutrality, we have delivered sequential improvements quarter by quarter during 2024. Cash flow from operating activities before changes in working capital has shifted from MSEK -1.5 in the fourth quarter of 2023 to MSEK +0.6 in the fourth quarter of 2024. Cash flow from investment activities also improved, from MSEK -2.9 to MSEK -1.3 during the same period.
As we enter 2025, the continued development of Questopia and our collaboration with Supersonic remain on track. If these initiatives continue to evolve positively, they will further strengthen our financial position.
We have implemented cost savings and established new revenue streams through partnerships. We have also ensured that the Fishing Tour team and development work can continue without interruption, even if we may need to make further efficiency improvements. Our continued priority is to launch the scalable version that we believe will meet the key performance indicators necessary to demonstrate the game’s long-term revenue potential and regain market confidence.
My plan going forward is clear. Fishing Tour will be launched in the spring. Our goal is for the game to prove its revenue potential and ensure that shareholders and the team can drive Fishing Tour’s continued success within SOZAP, maximizing its long-term value.
To succeed, we rely on several key factors: that we have made the right decisions during the development of Fishing Tour; that the team maintains the set schedule; and that our launched games, together with the collaboration with Supersonic, continue to develop in line with expectations. These interdependent factors are crucial for our available cash reserves to be sufficient and provide the best possible conditions to create long-term value for SOZAP and our shareholders.
At the same time, I am continuously evaluating strategic partnerships and other opportunities to ensure that the game’s value is realized in the most effective way. If developments do not progress as planned, we may need to make strategic decisions to optimize operations and financing, or explore potential strategic alternatives, including a possible divestment.
On behalf of the entire team, I would like to thank you for your continued support and trust. We now enter 2025 with a clear vision, ambitious goals, and a strong commitment to delivering results that benefit both our players and our shareholders.
Rade Prokopovic
Chief Executive Officer
FINANCIAL CALENDAR
All financial reports are published on https://www.sozap.com/ir/financial-reports
BOARD OF DIRECTORS
The Board of Directors and the CEO affirm that the interim report provides a fair overview of the Parent Company’s and the Group’s operations, financial positions and results, and describes the significant risks and uncertainties which the Parent Company and the Group are facing.
Nyköping, February 14, 2025
Daniel Somos
Chair of the Board
Stefan Janse
Board member
Hanif Bali
Board member
Rade Prokopovic
CEO & Board member
This report and press release are translated versions of the Swedish originals. Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.