Report11 bit studios
Half-Year Report of 11 Bit Studios S.A.: First Half of 2020
85 pages~165 min full read
Key insights
5 slides
Key number
Revenue reached nearly PLN 50.2m, up 63.2% year on year.
The company reported revenue of nearly PLN 50.2m in the first six months of 2020.
What changed
Strong sales of previously released games drove the financial performance.
Children of Morta, released in Autumn 2019, and This War of Mine, released in November 2014, also sold strongly.
Cost control
Operating expenses grew 12.92%, slower than the revenue increase.
Operating expenses increased at a slower rate than revenue. Part of this was due to a change in accounting for the 2017–2019 Incentive Scheme costs.
Page 69 of the report12.92%
Operating expense growth
- revenue growth
- 63.2%
Workforce
The company employed 148 people as of the report's issue date.
Headcount was 148 employees working under employment contracts or civil law contracts. Key management and supervisory staff hold significant shares in the company.
Pandemic impact
COVID-19 had no adverse effect on game sales revenue.
The pandemic had no adverse effect on revenue from game sales. The company successfully transitioned to remote work and is not expected to threaten liquidity in the next 12 months.
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Summary
HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE FIRST HALF OF 2020 Dear Shareholders and Investors, Please be invited to read 11 bit studios S.A.’s report for the first half of 2020. We, as the Management Board, are extremely satisfied with the Company’s financial performance in the In the first six months of 2020, 11 bit studios S.A. reported revenue of nearly PLN 50.2m, up 63.2% year on year, and delivered a net profit of more than PLN 25.0m, up 237%.
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