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Key Insights
Annual Report of 11 bit studios S.A. for 2012
11 bit studios~89 min full read
- 01
11 bit studios achieved a 57% increase in net revenue to 4.8 million PLN and a net profit of 1.34 million PLN in 2012, marking a recovery from the previous year's losses.
- 02
The company strengthened its financial position by raising over 3 million PLN through Series D and E share issuances, including a strategic investment from the AMPLICO pension fund.
- 03
Total assets grew from 2.99 million PLN to 7.34 million PLN, resulting in a strong end-of-year cash position of 3.47 million PLN and an equity-to-asset ratio of 94.2%.
- 04
Revenue exceeded initial forecasts by 10%, though net profit reached only 77% of projections due to the strategic decision to delay the release of Anomaly 2 until 2013.
- 05
Approximately 95% of sales revenue was generated from foreign markets, necessitating active management of currency risks associated with USD, EUR, and GBP.
- 06
The company prioritized cross-platform development for PC and mobile to mitigate risks associated with closed ecosystems like Sony and Microsoft.
- 07
Work-in-progress inventories nearly doubled to 1.72 million PLN as the company increased development activity for its 2013 release pipeline.
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