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Legal
Raport Roczny PCF Group S.A. za 2024 r.
The annual financial disclosures for PCF Group S.A. covering the fiscal year ending December 31, 2024, provide a comprehensive overview of the company’s operational performance and financial standing. As a major player in the global AAA game development sector, the group operates through its People Can Fly studios across multiple international locations. The primary objective of these disclosures is to ensure transparency for shareholders and regulatory bodies, confirming that all financial data adheres to International Financial Reporting Standards as adopted by the European Union. The financial results and management reports reflect the group’s strategic focus on large-scale project development and the maintenance of its corporate governance standards. Key components of the reporting include a letter from the CEO, audited individual financial statements, and a detailed management report on the activities of both the parent company and the wider capital group. These documents provide a true and fair view of the entity's assets, financial position, and net results, while also outlining the primary risks and threats inherent in the competitive gaming industry. The scope of the reporting encompasses the entirety of the 2024 calendar year, detailing the group's evolution and achievements during this period. The management board confirms that the audit process was conducted by an independent firm in compliance with professional ethics and mandatory rotation regulations. This ensures that the reported data serves as a reliable basis for assessing the group's stability and its capacity for future growth within the global entertainment market. The formal certification of these records was finalized in April 2025, marking the conclusion of the 2024 reporting cycle.
PCF GroupApr 2025
Legal
Ocena Rocznych Sprawozdań Finansowych i Rocznego Sprawozdania Zarządu 2024
The Supervisory Board of PCF Group S.A. provides a formal assessment of the company’s financial and operational performance for the fiscal year ending December 31, 2024. The primary purpose of this evaluation is to verify the accuracy, legality, and transparency of both the individual and consolidated financial statements, as well as the Management Board’s report on activities. This assessment serves as a critical governance mechanism for the Warsaw-based game development group, ensuring that all financial disclosures align with actual business operations and regulatory requirements. The findings confirm that the financial statements provide a fair and clear view of the Group’s assets, financial position, and cash flows. The data is prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and complies with the Polish Accounting Act. Key conclusions highlight that the accounting records were maintained correctly and that the Management Board’s report is consistent with the financial data, containing no material misstatements. Furthermore, the corporate governance statement included in the reporting package was found to contain all legally required components. The scope of this assessment covers the entirety of PCF Group S.A. and its capital group for the 2024 period. The methodology involved a comprehensive review by the Supervisory Board and the Audit Committee, supplemented by a formal audit conducted by an independent statutory auditor. This process included a videoconference with the key auditor to discuss audit results and verify the consistency of the reports with the company’s books and factual status. The document concludes with a positive recommendation from the five-member Supervisory Board, signed in April 2025, validating the integrity of the Group’s annual reporting.
PCF GroupMay 2025
Legal
Sprawozdanie Rady Nadzorczej PCF Group S.A. z siedzibą w Warszawie za rok obrotowy 2024
The Supervisory Board of PCF Group S.A. issued this formal report to evaluate the company’s financial standing and management performance for the 2024 fiscal year. The primary purpose is to provide shareholders with an assessment of the individual and consolidated financial statements, the Management Board's activity reports, and the proposed allocation of financial results. The scope covers the operations of the Warsaw-based parent company and its capital group from January 1 to December 31, 2024, prepared in accordance with International Financial Reporting Standards and Polish commercial law. Financial data reveals a challenging year for the group. PCF Group S.A. reported an individual net loss of 228.6 million PLN, with total assets valued at 315.2 million PLN and a net decrease in cash of 63.4 million PLN. On a consolidated basis, the capital group recorded a net loss of 175.3 million PLN against total assets of 373.4 million PLN. The Supervisory Board approved the Management Board's proposal to cover the individual net loss entirely through the company's supplementary capital. The report also highlights significant strategic shifts occurring in late 2024. Following a review of strategic options, the company decided to reduce the development team for Project Bifrost and suspended further work on Project Victoria. Despite these operational setbacks, the Supervisory Board concluded that the financial statements and management reports provide a fair and accurate representation of the company’s situation. Consequently, the Board recommended that the General Meeting approve the submitted documents and discharge the Management Board of its duties for the period.
PCF GroupMay 2025
Legal
Sprawozdanie z badania rocznego skonsolidowanego sprawozdania finansowego PCF Group Spółka Akcyjna 2024
The 2024 consolidated financial statements for PCF Group S.A., known globally as People Can Fly, present a fair and accurate representation of the Group’s financial position in accordance with International Financial Reporting Standards. The Group maintained a stable financial foundation throughout the fiscal year, with auditors issuing an unqualified opinion and confirming no material uncertainties regarding its ability to continue as a going concern. This assessment covers the Group’s international operations and development activities, focusing on the valuation of complex revenue streams and significant intangible assets. Key financial highlights include the reporting of 190.4 million PLN in revenue derived from intricate customer contracts and the management of 111.6 million PLN in intangible assets tied to ongoing game development projects. However, the fiscal year was marked by strategic adjustments, resulting in an 18.1 million PLN impairment charge on goodwill, which reduced the remaining balance to 33.3 million PLN. Furthermore, shifts in long-term strategy and tax projections through 2029 have introduced specific uncertainties regarding the realization of 52.9 million PLN in deferred tax assets, requiring careful valuation and monitoring. The Group’s reporting practices comply with all material legal requirements, including the technical specifications of the European Single Electronic Format. The audit process, conducted by Grant Thornton for the second consecutive year, affirmed the independence of the auditing body and the consistency between the management reports and the underlying financial data. These findings underscore a period of strategic transition for the Group as it balances significant development investments with evolving market projections and tax planning strategies.
Grant ThorntonApr 2025