Engine

Condensed Interim Consolidated Financial Statement of the CD PROJEKT Group: Q1 2022

The CD PROJEKT Group’s financial performance for the first quarter of 2022 demonstrates a robust recovery and growth trajectory, characterized by a 112.1% increase in net profit to 68.9 million PLN compared to the same period in 2021.

• CD PROJEKT Group reported a 112.1% year-over-year increase in Q1 2022 net profit, reaching 68.9 million PLN on total revenues of 216.1 million PLN.
• Financial growth was driven by licensing royalties from the Cyberpunk 2077 next-gen console release and sustained sales from The Witcher franchise.
• The company maintains a strong liquidity position with over 1.26 billion PLN in cash, bank deposits, and treasury bonds.

KRAFTON 1Q22 Investor Presentation

KRAFTON’s first-quarter 2022 investor presentation outlines a strategic transition toward a diversified, technology-driven gaming ecosystem while maintaining the core performance of its flagship PUBG intellectual property.

Mid-Year Consolidated Financial Report Q1 2022

PCF Group demonstrated robust financial growth during the first quarter of 2022, characterized by a 63% year-over-year increase in sales revenues to PLN 50.4 million and a 78% rise in net profit to PLN 13.9 million.

• PCF Group reported strong Q1 2022 growth with a 63% year-over-year increase in sales revenue to PLN 50.4 million and a 78% rise in net profit to PLN 13.9 million.
• The Work-for-Hire segment remains the company's primary financial driver, contributing PLN 12.88 million to the bottom line.
• As of March 31, 2022, the Group had not received royalties from the title Outriders because net proceeds had not yet recouped the publisher's initial production and distribution costs.

Separate Financial Statement of CD PROJEKT S.A. for 2021

CD PROJEKT S.A. experienced a period of significant financial contraction during the 2021 fiscal year, characterized by a sharp decline in performance compared to the record-setting results of 2020.

• CD PROJEKT S.A. reported a significant revenue decline to 692.2 million PLN in 2021, down from 1.88 billion PLN in 2020.
• Despite the revenue drop, the company remained profitable with a net profit of 240.1 million PLN, bolstered by IP BOX tax relief and 1.04 billion PLN in operating cash flow.
• The company maintains a strong financial position with 1.87 billion PLN in total equity, zero outstanding bank loans, and 345.8 million PLN in year-end cash and cash equivalents.

CD PROJEKT Group FY 2021 Earnings Presentation

The CD PROJEKT Group fiscal year 2021 earnings presentation outlines a period of significant internal restructuring and strategic realignment following the launch of Cyberpunk 2077.

• CD PROJEKT Group experienced a significant financial contraction in 2021, with sales revenues falling 58% to 888 million PLN and net profit declining 82% to 209 million PLN.
• The company implemented the 'RED 2.0' transformation, restructuring into independent, cross-functional teams capable of managing multiple concurrent AAA projects.
• Despite the earnings downturn, the company increased its liquid assets (cash, deposits, and bonds) by 32% year-over-year, ending 2021 with 1.15 billion PLN.

Regarding SDGs/ESG FY2021

Koei Tecmo’s fiscal year 2021 strategy emphasizes a commitment to sustainable growth through a materiality matrix focused on environmental stewardship, social responsibility, and robust corporate governance.

• Koei Tecmo achieved a 23% increase in base salaries and maintained a low employee separation rate of 4.2% during FY2021.
• The company successfully transitioned to the Tokyo Stock Exchange Prime Market by utilizing Zero Coupon Convertible Bonds and a strategic tender offer to improve its tradable share ratio.
• Environmental initiatives, including the shift to electronic manuals and cloud-based infrastructure, resulted in the conservation of 49 tons of paper.

Annual Report of 11 bit studios S.A. for 2021

11 bit studios S.A. maintained a robust financial and strategic position in 2021, despite a year-over-year decline in earnings driven by a lack of new product premieres.

• 11 bit studios is executing a strategic transition from indie developer to large-scale publisher, targeting 656 million PLN in consolidated revenue through 2025 via a new multi-team production structure.
• Financial performance in 2021 saw revenue of 70.12 million PLN and a net profit of 28.69 million PLN, with stability maintained by the back catalogue of 'Frostpunk' and 'This War of Mine' despite the lack of new releases.
• The company significantly increased R&D investment, with 52.93 million PLN in capitalized development costs for upcoming titles 'Frostpunk 2', 'Dolly', and 'Project 8', all of which have migrated to Unreal Engine.

FY2022 Annual Presentation Materials

Koei Tecmo achieved record-breaking financial results for the fiscal year ending March 2023, characterized by a 7.8% increase in sales to 78.4 billion yen and a 13.3% rise in operating profit to 39.1 billion yen.

• Koei Tecmo’s FY2022 strategy centers on global expansion and revenue diversification by leveraging established intellectual properties across multiple platforms and genres.
• The company’s release pipeline includes major titles such as Wild Hearts, Wo Long: Fallen Dynasty, Atelier Ryza 3, and Winning Post 10, alongside mobile games like Blue Reflection Sun and Dragon Quest Champions.
• A core growth pillar involves a multi-layered collaboration strategy, utilizing licensing and co-development with external partners to mitigate risk and acquire technical expertise.

Quarterly Report of 11 Bit Studios S.A. for the Nine Months Ended September 30th 2021

During the first nine months of 2021, 11 bit studios S.A. focused on a strategic transition toward a multi-team production model and the expansion of its publishing pipeline.

• 11 bit studios is investing PLN 110 million into three major internal projects: Frostpunk 2, Project 8, and Dolly.
• The company has allocated PLN 80 million to expand its third-party publishing division through 2023, aiming for a consistent annual release cycle of one proprietary game and multiple external titles.
• Financial performance for the first nine months of 2021 showed a year-over-year decline, with revenue at PLN 49.2 million and net profit at PLN 17.4 million due to the aging of the existing portfolio.

Annual Report 11 Bit Studios S.A. for 2020

In 2020, 11 bit studios S.A. achieved its strongest financial performance to date, characterized by record-breaking revenues of 87.1 million PLN and a net profit of 37.36 million PLN, representing a 57.5% year-over-year increase.

• 11 bit studios achieved record financial performance in 2020 with 87.1 million PLN in revenue and a 57.5% year-over-year increase in net profit to 37.36 million PLN.
• The company maintains a debt-free balance sheet with 107.7 million PLN in liquid assets, enabling full self-financing for its current development and publishing pipeline.
• Core franchises Frostpunk and This War of Mine remain the primary revenue drivers, while the publishing division grew to account for 29% of total annual revenue.

Quarterly Report of 11 Bit Studios S.A. for Nine Months Ended September 30th 2020

11 bit studios S.A. achieved record-breaking financial performance during the first nine months of 2020, characterized by a 37.89% year-on-year revenue increase to PLN 68.16 million and a net profit surge of 277.49% to PLN 32.12 million.

• 11 bit studios S.A. reported record financial results for the first nine months of 2020, with revenue increasing 37.89% year-on-year to PLN 68.16 million and net profit surging 277.49% to PLN 32.12 million.
• Operating margins reached 51.5%, driven by a 12% reduction in operating expenses following the end of a previous employee incentive scheme and the application of a 5% preferential corporate tax rate via IP Box relief.
• The Frostpunk portfolio, supported by expansions like The Last Autumn and On The Edge, remained the primary revenue driver, while Children of Morta and Moonlighter contributed approximately 28% to 30% of total revenue.

Half-Year Report of 11 Bit Studios S.A. for the First Half of 2020

11 bit studios S.A. achieved the second-best half-year financial performance in its history during the first half of 2020, characterized by a 63.2% year-on-year revenue increase to PLN 50.2 million and a 237% surge in net profit to over PLN 25.0 million.

• 11 bit studios achieved its second-best half-year performance in H1 2020, with revenue rising 63.2% year-on-year to PLN 50.2 million and net profit surging 237% to over PLN 25.0 million.
• The company holds a strong liquidity position with PLN 114.2 million in total financial assets and over PLN 95 million in cash reserves, which are being used to self-finance three major internal projects: 'Project 8', 'Dolly', and 'Eleanor'.
• The publisher is strategically shifting away from the indie segment toward higher-budget productions, highlighted by the migration of 'Project 8' to Unreal Engine 5.