COPENHAGEN, DK / ACCESS Newswire / March 10, 2026 / Trophy Games Development A/S (CPH:TGAMES) today announced the publication of its Annual Report for the 2025 financial year. The year marked a landmark period of accelerated performance, driven by the rapid scaling of the company's Transport Series and strategic optimisations in its monetisation mix.
"2025 was a period of strategic execution and operational validation for Trophy Games," said Søren Westrup Gleie, CEO & Founder of Trophy Games. "The year was about making our strategy work in practice - executing with focus, investing through volatility, and building scalable growth by staying true to our niche communities and data-driven model. We exit the year in a position of strength, with a stronger IP portfolio, a more diversified user acquisition network, and clear pathways for continued profitable growth."
Financial Highlights 2025:
Record Revenue: Revenue increased by 40% to DKK 126.5m (2024: DKK 90.1m)
Strong Earnings Growth: EBITDA grew by 26% to DKK 31.1m (2024: DKK 24.7m), while Profit Before Tax (EBT) surged 109% to DKK 19.0m (2024: DKK 9.1m).
Unprecedented Q4 Performance: The final quarter of 2025 was the strongest in the company's history, with Q4 revenue reaching DKK 41.0m, a 106% increase compared to Q4 2024.
Ad Revenue Surge: Following a strategic optimisation program initiated in late September 2025, In-App Ads (IAA) revenue surged by 100% to DKK 18.5m.
Solid Foundation: The company maintains a robust financial position with a 78% solvency ratio, total equity of DKK 66.1m, and zero interest-bearing external debt.
DKKm | 2025 Guidance | 2025 Actuals |
Revenue | 125 - 126 | 126.5 |
EBITDA | 30 - 31 | 31.1 |
EBT | 18 - 19 | 19.0 |
Operational Milestones:
The top-line growth was predominantly fueled by the "Big 3" titles within the Transport Game Series: Airline Manager, Truck Manager, and the newly launched Farm Manager.
Collectively, these three games generated 67% of the total revenue in 2025 (DKK 85m) and 65% of the total EBITDA.
Farm Manager, launched in July 2025 following 5 million pre-registrations, became the standout success of the year, contributing DKK 22.0m in its first six months.
Truck Manager, launched in November 2024, emerged as a primary growth engine. Reaching its first full year of operation, the game generated DKK 25.2m in revenue, driven by foundational improvements and successful gameplay balancing throughout the year.
Financial Outlook for 2026:
Entering 2026 from a position of operational strength, Trophy Games remains focused on optimising its current portfolio while investing with discipline in next-generation titles like Train Manager 2 and Space Manager.
For the 2026 financial year, the company expects:
DKKm | 2025 Actual | 2026 Guidance* | Expected Growth |
Revenue | 126.5 | 130 - 153 | 3% - 21% |
EBITDA | 31.1 | 28 - 36 | (10%) - 16% |
EBIT | 20.5 | 18 - 24 | (12%) - 17% |
*Guidance excludes potential upside from acquisitions and the release of The Ranchers.
The full Annual Report 2025 is attached to this press release and can also be downloaded from the company's investor relations website at https://trophy-games.com/investor.
Contacts
Trophy Games Development A/S
Søren Gleie, CEO
Office (+45) 7172 7573
Email: soren@trophy-games.com
Mikkel Bryggers Gade 4, 2. sal, 1460 Copenhagen K, Denmark
Certified Adviser
Norden CEF
John Norden
Email: jn@nordencef.dk
A/S Kongevejen 365, 2840 Holte, Denmark
About Us
Trophy Games is a data- and business-driven game company with a no-bullshit mentality. We build games around real-world interests to immerse players in their passion online!
Visit us at trophy-games.com and managergaming.com!
Attachments
Trophy Games Annual Report 2025
SOURCE: Trophy Games Development
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/trophy-games-reports-record-year-for-2025-with-40-revenue-growth-1145790
