11 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.
02
The 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.
03
Cash 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.
04
Depreciation 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.
05
11 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.
06
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 (Frostpunk 2, The Alters, and Project 8) is approximately PLN 110 million.
07
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.
Insights
01
11 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.
02
The 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.
03
Cash 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.
04
Depreciation 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.
05
11 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.
06
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 (Frostpunk 2, The Alters, and Project 8) is approximately PLN 110 million.
07
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.