Half-Year Report: 11 bit studios (H1 2022)

Profit reached PLN 15,083,775 in H1 2022.

The company reported a profit of PLN 15,083,775 for the period ended June 30, 2022. This was an increase from PLN 13,308,096 in the same period of 2021.

Total assets increased by 10.48% to PLN 242,514,237.

Total assets increased by 10.48% to PLN 242,514,237 as of June 30, 2022. This was up from PLN 219,512,964 at December 31, 2021.

Operating cash rose to PLN 28,377,470 in H1 2022.

Cash provided by operating activities rose to PLN 28,377,470 in H1 2022 from PLN 22,490,664 in H1 2021. Net cash from operating activities was PLN 24,080,772.

Depreciation and amortisation fell by 41.63% year-on-year.

Depreciation and amortisation expenses decreased by 41.63% year-on-year to PLN 3,072,760 in H1 2022. The decrease was mainly due to lower amortisation of intangible assets.

11 bit studios acquired a 40% interest in Fool’s Theory.

The company acquired a 40% interest in Fool’s Theory Sp. z o.o. for an initial payment of PLN 2,619,215.50 in March 2022. A second payment is contingent on the sales and user ratings of their game, Vitriol.

Production budget for three proprietary games is approximately PLN 110 million.

The company is shifting its strategy towards larger, more costly games with greater commercial potential, moving away from the indie segment. The total production budget for three proprietary games is approximately PLN 110 million.

Budget scale. The total production budget for Frostpunk 2, The Alters, and Project 8 is approximately PLN 110 million.

Nationale-Nederlanden increased its stake to 5.018% of voting rights.

Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in 11 bit studios S.A. to 5.018% of total voting rights and share capital as of December 30, 2021. The increase was reported in the half-year report.