ReportPullup Entertainment
Annual Financial Report and CSR Report: 2023-2024
106 pages~320 min full read
Key insights
7 takeaways · ~3 min read- 01PULLUP Entertainment (formerly FOCUS ENTERTAINMENT) reported a consolidated net loss of €19,244K for the financial year ended March 31, 2024, a significant decrease from the €10,261K net profit in the previous year, representing a 288% decline.See it on page 20
- 02Revenue decreased by 3% to €187,334K as of March 31, 2024, from €194,104K in the prior year, while game development costs nearly doubled, increasing by 99% to €64,726K from €32,509K.See it on page 44
- 03The company acquired UK studio Dovetail Games, known for simulation franchises like Train Simulator Classic and Train Sim World, with the acquisition consolidated into PULLUP Entertainment's accounts from April 20, 2023, and expected to have a slightly accretive impact on profit margin.See it on page 9
- 04PULLUP Entertainment drew an additional €20M on its credit line for the Dovetail Games acquisition and pledged 50.1% of Dotemu shares and 98% of Dovetail Games Holding shares to creditors.See it on page 73
- 05The company's net debt increased significantly from €27,260K to €132,646K as of March 31, 2024, primarily due to new bank loans totaling €70,500K.See it on page 57
- 06PULLUP Entertainment implemented a share buyback program with a maximum allocation of €32,475,000 and a maximum purchase price of €99 per share, authorized by the Mixed General Meeting on September 12, 2023.See it on page 55
- 07Fabrice Larue assumed the role of Chairman and Chief Executive Officer on May 16, 2023, following the resignation of Sean Brennan, and became the sole Chairman and CEO after Christophe Nobileau resigned as Deputy CEO on January 31, 2024.See it on page 29
Summary
ANNUAL FINANCIAL REPORT AS OF 31 MARCH 2024 1. INTRODUCTION pages 3 to 6 2. DECLARATION BY THE CHIEF EXECUTIVE OFFICER page 7 3. MANAGEMENT REPORT pages 8 to 26 4. REPORT ON CORPORATE GOVERNANCE pages 27 to 38 ON THE CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 MARCH 2024 pages 39 to 40 6.
Cite this report
Citation
Generating citation...
