Financial11 bit studios
Annual Report of 11 bit studios S.A. for 2011
1 Jun 201268 pages~92 min full read
11 bit studios achieved a significant financial turnaround in 2011, reporting a net profit of 1.29 million PLN compared to a 231,199 PLN loss in 2010.
See it on page 20Net sales revenue grew by over 544% to 3.05 million PLN, driven primarily by the commercial success of the Anomaly Warzone Earth series.
See it on page 35The company operates as a global entity with 96% of sales originating from foreign markets via digital platforms like Steam and the App Store.
See it on page 33Revenue is highly sensitive to currency fluctuations, as 80-100% of income is denominated in USD, EUR, and GBP.
See it on page 38Following a Series D share issuance, the company ended 2011 with 1.30 million PLN in cash and total assets exceeding 2.99 million PLN.
See it on page 34The firm is currently funding the simultaneous development of four new game series and has set a revenue target of 12.7 million PLN for 2013.
See it on page 3Operational risks include dependency on platform owners like Sony and Microsoft, which the company mitigates through diversification across open platforms and rigorous usability testing.
See it on page 37During the 2011 fiscal year, 11 bit studios S.A. successfully transitioned from a development-focused startup into a profitable global commercial entity. This transformation was primarily driven by the critical and commercial success of the Anomaly Warzone Earth series, which enabled the company to report a net profit of 1.29 million PLN. This represents a significant turnaround from the net loss of 231,199 PLN recorded in 2010. Net sales revenue surged by over 544% to 3.05 million PLN, characterized by a high-margin strategy where nearly 50% of sales were converted to profit.
The company’s operations are heavily international, with 96% of product sales originating from foreign markets through digital distribution platforms such as Steam and the App Store. Consequently, the firm maintains a high exposure to currency fluctuations, as 80-100% of its revenue is denominated in USD, EUR, and GBP. To support its growth trajectory, the company utilized a Series D share issuance to raise capital, ending the year with a strengthened cash position of 1.30 million PLN and total assets exceeding 2.99 million PLN. These resources are being deployed to fund the simultaneous development of four new game series.
Operational risks remain centered on the inherent unpredictability of consumer demand and a strategic dependency on major platform owners like Sony and Microsoft. To mitigate these factors, the company prioritizes diversification across open platforms and utilizes rigorous usability testing. Audited financial statements confirm that the firm is in a stable position with no threats to continued operations. Looking forward, the company has set ambitious growth targets, aiming for 12.7 million PLN in revenue by 2013 while maintaining its commitment to transparency standards as a listed entity on the NewConnect market.
