Report11 bit studios
Half-Year Report of 11 Bit Studios S.A.: First Half of 2021
75 pages~143 min full read
Key insights
8 slides
Revenue
Revenue reached nearly PLN 35.78m in the first half of 2021.
The Management Board is clearly satisfied with the Company’s financial performance, which was far better than assumed in the budget for the period.
Profit decline
Operating profit fell 45.04% to PLN 14,495,759 in H1 2021.
Operating profit margin dropped from 52.57% to 40.51% compared to H1 2020. The company experienced a significant decrease in operating profit.
Page 59 of the reportPLN 14,495,759
Operating profit in H1 2021
- H1 2020
- PLN 23,943,648
- Decrease
- 45.04%
EBITDA
EBITDA declined to PLN 19,760,614 in H1 2021.
EBITDA margin decreased from 62.23% to 55.23% compared to H1 2020. EBITDA also declined in H1 2021.
Page 61 of the reportPLN 19,760,614
EBITDA in H1 2021
- H1 2020
- PLN 31,220,900
- EBITDA margin
- 55.23%
Cash flow
Cash flows from operating activities decreased 26.92% in H1 2021.
Cash flows from operating activities were PLN 22,490,664, a 26.92% decrease compared to H1 2020. This occurred despite the absence of new game releases.
Page 65 of the reportPLN 22,490,664
Cash flows from operating activities in H1 2021
- H1 2020
- PLN 30,775,715
- Decrease
- 26.92%
Total assets
Total assets increased to PLN 201,184,432 as of June 30, 2021.
Total assets rose from PLN 186,339,222 on December 31, 2020.
Intangible assets
Intangible assets increased to PLN 46,028,336 by June 30, 2021.
Intangible assets, primarily ongoing development work, rose from PLN 37,859,517 at the end of 2020.
Share capital
Share capital was PLN 236,542.1 as of August 11, 2021.
The company's share capital comprised 2,365,421 shares. 1,710 Series G shares were subscribed and paid for on that date for PLN 176,779.80.
Finance costs
Finance costs decreased 70.02% to PLN 181,784 in H1 2021.
Finance costs fell from PLN 606,346 in H1 2020. The decrease was mainly due to lower losses on remeasurement of financial assets.
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Summary
HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THEFIRST HALF OF 2021 Dear Shareholders and Investors, Please be invited to read 11 bit studios S.A.’s report for the first half of 2021. We, as the Management Board, are clearly satisfied with the Company’s financial performance, which was far better than assumed in the budget for the period. In the first six months of this year, our Company posted revenue of nearly PLN 35.78m.
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