11 bit studios S.A. generated PLN 21,147,406 in cash flows from operating activities in 2023, a 37.97% decrease from 2022, despite no new game releases significantly contributing to financial performance. This was driven by strong sales of older titles like Frostpunk, Moonlighter, Children of Morta, This War of Mine, and The Invincible.
02
The company significantly increased capital expenditure in 2023, spending PLN 58,813,599 on property, plant, and equipment and intangible assets (up from PLN 45,679,530 in 2022), primarily for new proprietary games (Frostpunk 2, The Alters, Project 8) and publishing division games.
03
Contract liabilities surged to PLN 13,355,194 as of December 31, 2023, from PLN 1,128,700 in 2022, representing advance payments from trading partners, including Microsoft Corporation, for future game sales, payable within 24 months.
04
The global gaming industry is projected to return to growth, with Newzoo forecasting spending of USD 205.4 billion by 2026 (11.6% more than 2023) and the number of gamers reaching 3.675 billion by 2026 (a CAGR of 3.7% from 2021-2026).
05
11 bit studios S.A. aims to fund its development and publishing activities internally for at least the next few quarters, reducing reliance on external funding or funds from trading partners.
06
The company's Supervisory Board compensation totaled PLN 332,691 in 2023, a slight decrease from PLN 338,732 in 2022.
07
The company rebuilt its internal intranet, 'the Hub,' in 2023, enhancing design and functionality to include organizational structure, an expanded knowledge base, user profiles, and a company events calendar.
Insights
01
11 bit studios S.A. generated PLN 21,147,406 in cash flows from operating activities in 2023, a 37.97% decrease from 2022, despite no new game releases significantly contributing to financial performance. This was driven by strong sales of older titles like Frostpunk, Moonlighter, Children of Morta, This War of Mine, and The Invincible.
02
The company significantly increased capital expenditure in 2023, spending PLN 58,813,599 on property, plant, and equipment and intangible assets (up from PLN 45,679,530 in 2022), primarily for new proprietary games (Frostpunk 2, The Alters, Project 8) and publishing division games.
03
Contract liabilities surged to PLN 13,355,194 as of December 31, 2023, from PLN 1,128,700 in 2022, representing advance payments from trading partners, including Microsoft Corporation, for future game sales, payable within 24 months.
04
The global gaming industry is projected to return to growth, with Newzoo forecasting spending of USD 205.4 billion by 2026 (11.6% more than 2023) and the number of gamers reaching 3.675 billion by 2026 (a CAGR of 3.7% from 2021-2026).
05
11 bit studios S.A. aims to fund its development and publishing activities internally for at least the next few quarters, reducing reliance on external funding or funds from trading partners.
06
The company's Supervisory Board compensation totaled PLN 332,691 in 2023, a slight decrease from PLN 338,732 in 2022.
07
The company rebuilt its internal intranet, 'the Hub,' in 2023, enhancing design and functionality to include organizational structure, an expanded knowledge base, user profiles, and a company events calendar.