Key insights
6 slides
Key number
Q1 2019 revenue rose nearly 632% year-on-year.
11 bit studios S.A. reported revenue of PLN 14,183,796 in Q1 2019. The increase was primarily driven by strong sales of Frostpunk and This War of Mine.
Cost pressure
Operating expenses rose by 267.5% in Q1 2019.
Operating expenses reached PLN 8,524,924 in Q1 2019, up from PLN 3,186,555 in Q1 2018. Major items included salaries, services, and a non-cash provision.
Publishing contribution
11 bit publishing contributed 18% of 2018 revenue.
The publishing division contributed 18% of total revenue in 2018, largely due to the successful release of Moonlighter. It is expected to considerably impact future revenue.
Other expenses
Other expenses decreased by 81.8% year-on-year.
Other expenses fell in Q1 2019 mainly because a significant donation of PLN 648,755 to the War Child Foundation made in Q1 2018 was not repeated.
Page 15 of the reportDonations given0
Other expenses by nature142,137
Strategic aim
The company aims to stabilize volatile financial results.
11 bit studios S.A. aims to stabilize its typically volatile financial results through its portfolio of proprietary games. It plans to launch third-party games every quarter through its publishing arm.
Page 5 of the report- 01Proprietary gamesUse portfolio of proprietary games to help stabilise financial results.
- 02Publishing divisionDevelop 11 bit publishing to impact revenue sources.
- 03Quarterly launchesLaunch third-party games every quarter through the publishing arm.
Porting success
Beat Cop porting proved profitable in Q1 2019.
The porting of Beat Cop to PS4, Xbox One, Nintendo Switch, iOS, and Android, released in Q1 2019, proved profitable and supported the company's financial performance.
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Summary
portfolio of proprietary games) is expected to help stabilise the Company's financial results, which in the video games industry are typically highly volatile. The Company's revenue sources should also be considerably impacted by further development of its publishing division (11 bit publishing), which in 2018, driven primarily by the very successful release of Moonlighter, contributed 18% of the LETTER FROM THE MANAGEMENT BOARD ...
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