Półroczne sprawozdanie Zarządu z działalności Grupy Kapitałowej PCF Group S.A.: 1 stycznia 2024 – 30 czerwca 2024

Sales revenue rose 29% to PLN 70.1 million in H1 2024.

Revenue reached PLN 70.1 million in H1 2024, up from PLN 54.3 million in H1 2023. The increase was driven by Bulletstorm VR and Project Maverick revenue.

Cost of services sold increased 134% to PLN 84.4 million.

Costs reached PLN 84.4 million in H1 2024, up from PLN 36.0 million in H1 2023. The increase was primarily due to Project Maverick and Bulletstorm VR production costs.

PCF Group recognized a PLN 7.758 million impairment on Project Gemini.

The company recognized an impairment loss of PLN 7.758 million on intangible assets related to Project Gemini in H1 2024. This impacted both standalone and consolidated financial results.

Project Gemini release moved from 2024 to 2026.

The release date for Project Gemini has been pushed from 2024 to 2026. Bulletstorm VR's release was delayed from December 14, 2023, to January 18, 2024.

1. 01
   Bulletstorm VR delayed

   Release moved from December 14, 2023, to January 18, 2024.
2. 02
   Project Gemini postponed

   Release pushed from 2024 to 2026.

PCF Group signed a short-term agreement with Square Enix on January 30, 2024.

The company signed a short-term executive agreement with Square Enix Limited to continue development on Project Gemini. This followed the expiration of the previous agreement to finalize strategic discussions.

PCF Group terminated two unused credit agreements totaling PLN 30 million and EUR 4.426 million.

The company terminated two revolving credit agreements with Bank Pekao S.A., effective September 2024. The agreements totaled PLN 30 million and EUR 4.426 million, and none of the credit was utilized.

PCF Group faces significant revenue concentration risk across three major projects.

The company has ongoing production and publishing agreements for Project Gemini, Project Maverick, and Project Echo. These agreements create significant revenue concentration risk.