11 bit studios S.A.'s net profit for the nine months ended September 30th, 2023, significantly decreased by 93.38% year-on-year, from PLN 20,394,550 to PLN 1,350,738, with the net profit margin falling from 34.23% to 3.94%.
02
Cash provided by operating activities decreased from PLN 37,640,147 in 2022 to PLN 21,745,702 in 2023 for the nine-month period.
03
The company substantially increased spending on game development, reaching PLN 41,993,820 in the reporting period compared to PLN 34,107,931 in the comparative period, driven by development of Frostpunk 2, The Alters, and Project 8.
04
Basic earnings per share dropped from 8.40 in September 2022 to 0.37 in September 2023.
05
11 bit studios S.A. provided a surety of up to PLN 5,250,000 for a PLN 3,500,000 credit facility for its associate Fool's Theory Sp. z o.o. on June 5th, 2023.
06
Future performance will be influenced by the launches of The Invincible and The Thaumaturge (Q1 2024), and continued monetization of existing products like Frostpunk.
Insights
01
11 bit studios S.A.'s net profit for the nine months ended September 30th, 2023, significantly decreased by 93.38% year-on-year, from PLN 20,394,550 to PLN 1,350,738, with the net profit margin falling from 34.23% to 3.94%.
02
Cash provided by operating activities decreased from PLN 37,640,147 in 2022 to PLN 21,745,702 in 2023 for the nine-month period.
03
The company substantially increased spending on game development, reaching PLN 41,993,820 in the reporting period compared to PLN 34,107,931 in the comparative period, driven by development of Frostpunk 2, The Alters, and Project 8.
04
Basic earnings per share dropped from 8.40 in September 2022 to 0.37 in September 2023.
05
11 bit studios S.A. provided a surety of up to PLN 5,250,000 for a PLN 3,500,000 credit facility for its associate Fool's Theory Sp. z o.o. on June 5th, 2023.
06
Future performance will be influenced by the launches of The Invincible and The Thaumaturge (Q1 2024), and continued monetization of existing products like Frostpunk.