Key insights
7 takeaways · ~3 min read- 0111 bit studios S.A. reported a profit of PLN 15,083,775 for the period ended June 30, 2022, an increase from PLN 13,308,096 in the same period of 2021.See it on page 61
- 02The company's total assets increased by 10.48% to PLN 242,514,237 as of June 30, 2022, up from PLN 219,512,964 at December 31, 2021.See it on page 62
- 03Cash provided by operating activities rose to PLN 28,377,470 in H1 2022 from PLN 22,490,664 in H1 2021, with net cash from operating activities at PLN 24,080,772.See it on page 8
- 04Depreciation and amortisation expenses decreased by 41.63% year-on-year to PLN 3,072,760 in H1 2022, mainly due to lower amortisation of intangible assets as certain products completed amortisation.See it on page 24
- 0511 bit studios 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, with a second payment contingent on the sales and user ratings of their game, Vitriol.See it on page 36
- 06The 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 (Frostpunk 2, The Alters, and Project 8) is approximately PLN 110 million.See it on page 72
- 07Nationale-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.See it on page 54
Summary
HALF-YEAR REPORT OF 11 BIT STUDIOS S.A. FOR THE SIX MONTHSENDED Dear Shareholders and Investors, Please be invited to read 11 bit studios’ report for the six months ended June 30th 2022. It was a time of hard work for us. Despite the unfavourable macroeconomic headwinds, the Company’s financial performance in that period was much stronger than in the previous year and far better than we assumed in our budget.
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