Codigames, the company that has turned a mobile video game into which you can try to emulate Juan Roig by building a virtual supermarket emporium in one of its best sellers, is already one of the biggest success stories of the startup support program that finances the president of Mercadona.
In fact, the high profitability achieved by the firm has made it one of the sources of financing for Angels and Lanzadera, the instruments through which Roig promotes and invests in innovative companies. Codigames earned 18.16 million euros last year, 13% more than in the previous year and adds three years in a row in profits.
Its shareholders approved to allocate 15 million euros of that result to dividends, as reflected in their 2020 annual accounts. Roig, through Angels Capital, controls 20.1% of the digital game developer, therefore, via dividend, his company has entered 3 million euros. The rest of the shareholding is in the hands of the two Murcian entrepreneurs who founded the company in 2013 and maintain the management, Francisco José Martínez and Zacarías Gómez.
The coronavirus pandemic had little effect on the business of Codigames, which distributes its products through mobile download platforms and maintained its strong growth in 2019. The company increased its revenues to 71.85 million euros last year , 62% more, thanks to the launch of new versions. A money that generates in two ways, the advertising that is included in its games and micropayments of the players to obtain rewards in them.
Along with its income, the expenses related to commissions and positioning expenses incurred by large platforms such as Google and Apple have also grown. In one year they increased from 2.5 million to more than 10 million.
Codigames is specialized in the design of so-called simulation and strategy games that go beyond the traditional ones of wars and battles. In them, the player can assume the role of the head of all types of companies and facilities, as in the case of Idle Supermarket Tycoon , in which from a grocery store the user has to build a giant of supermarkets and that exceeds 10 million downloads on the Google platform. The firm has already developed 15 games ranging from managing an airport, a theme park or a prison, to a chain of gyms, hotels, universities or the police.
After doubling its workforce last year, to 54 employees, its plans are to continue expanding its catalog this year. “The launches of these new games planned for 2021 are double the number of launches during 2020,” it says in its management report. With these products the company expects to reach a turnover of 95 million euros this year.
Codigames was one of the companies that entered the first Lanzadera acceleration programs in 2014 and maintains its headquarters in the business incubator promoted by the president of Mercadona.
The two founders of Codigames a Caixa Capital Risc, Faraday Venture Partners and Roig’s own Angels Capital to buy back the majority of the shareholders in three phases between 2019 and 2020. An operation with which they recovered the majority and after which only the signing of the Roig himself remains in the capital of the video game developer. Investors had entered the capital in 2016.
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