Report11 bit studios
Half-Year Report of 11 Bit Studios S.A.: First Half of 2021
75 pages~143 min full read
Key insights
7 takeaways · ~3 min read- 0111 Bit Studios S.A. experienced a significant decrease in operating profit in H1 2021, falling 45.04% to PLN 14,495,759 from PLN 23,943,648 in H1 2020, with the operating profit margin dropping from 52.57% to 40.51%.See it on page 59
- 02EBITDA also declined in H1 2021 to PLN 19,760,614, down from PLN 31,220,900 in H1 2020, resulting in an EBITDA margin decrease from 62.23% to 55.23%.See it on page 61
- 03Cash flows from operating activities in H1 2021 were PLN 22,490,664, a 26.92% decrease compared to PLN 30,775,715 in H1 2020, despite the absence of new game releases.See it on page 65
- 04Total assets increased to PLN 201,184,432 (EUR 44,501,954) as of June 30, 2021, up from PLN 186,339,222 (EUR 40,378,613) on December 31, 2020.See it on page 62
- 05The company's share capital as of August 11, 2021, was PLN 236,542.1, comprising 2,365,421 shares, with 1,710 Series G shares subscribed and paid for on that date for PLN 176,779.80.See it on page 13
- 06Intangible assets, primarily ongoing development work, increased to PLN 46,028,336 (EUR 10,181,458) by June 30, 2021, from PLN 37,859,517 (EUR 8,203,934) at the end of 2020.See it on page 63
- 07Finance costs decreased significantly by 70.02% to PLN 181,784 in H1 2021 from PLN 606,346 in H1 2020, mainly due to lower losses on remeasurement of financial assets.See it on page 61
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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