RB 25/2024: Zamknięcie Projektu 8

Key insights

6 takeaways · ~2 min read

01
11 bit studios S.A. officially terminated its internal game development venture, 'Projekt 8,' on 17 December 2024 due to insufficient return on investment prospects.
02
The project carried a book value of PLN 48,432,077.90 as of 30 September 2024, which will now be subject to a write-down of unfinished development work.
03
The write-down of Projekt 8 assets will negatively impact the company’s financial results for the 2024 fiscal year, with the final amount pending a comprehensive asset review.
04
The cancellation of the project has triggered workforce reductions within the Projekt 8 team.
05
The layoffs associated with the project closure are not subject to the 2023 Act on Special Rules for Terminating Employment Contracts.
06
The decision represents a strategic pivot by the board to prioritize fiscal discipline and reallocate resources toward projects that meet profitability targets.

Summary

The executive board of 11 bit studios S.A. announced on 17 December 2024 the termination of its internal game‑development venture, code‑named “Projekt 8.” The decision follows an assessment that the project lacks viable prospects for delivering a satisfactory return on investment. As of 30 September 2024, the project’s book value stood at PLN 48,432,077.90; closing it will necessitate a write‑down of unfinished development work, which will impact the company’s financial results for the current fiscal year. The precise amount of the write‑down will be determined after a comprehensive review of assets generated during the project’s lifecycle.

The shutdown also triggers workforce reductions within the Projekt 8 team, though the scale of these layoffs is not governed by the 2023 Act on Special Rules for Terminating Employment Contracts. The board’s resolution reflects a strategic shift away from projects that no longer align with the company’s profitability targets. The announcement was made by President Przemysław Marszał and Board Member Grzegorz Miechowski, underscoring the board’s commitment to fiscal discipline and resource reallocation. The communication serves as a formal disclosure of the project’s closure, its financial implications, and the associated human‑resource adjustments.