11 bit studios reported a net loss of PLN 477,805 for the first half of 2024, a significant decline from a net profit of PLN 4,013,206 in H1 2023.
02
Revenue increased to PLN 30,760,568 in H1 2024 from PLN 24,775,454 in H1 2023, while total operating expenses surged to PLN 36,117,307 from PLN 24,178,057 in the same periods.
03
The company experienced an operating loss of PLN 5,352,141 in H1 2024, contrasting with an operating profit of PLN 628,869 in H1 2023.
04
Development expenditure on games increased to PLN 29,611,891 in H1 2024, up from PLN 26,412,763 in H1 2023, with estimated total development costs for three games potentially exceeding PLN 160 million.
05
Frostpunk 2's PC release was postponed from July 25, 2024, to September 20, 2024, following positive feedback from influencer and media previews in May 2024.
06
Finance income decreased significantly to PLN 1,423,440 in H1 2024 from PLN 6,585,053 in H1 2023, primarily due to a lower gain on remeasurement of Starward Industries S.A. shares.
07
The company did not pay dividends in H1 2024 or 2023, with the full net profit for 2023 (PLN 525,609) transferred to statutory reserve funds.
Insights
01
11 bit studios reported a net loss of PLN 477,805 for the first half of 2024, a significant decline from a net profit of PLN 4,013,206 in H1 2023.
02
Revenue increased to PLN 30,760,568 in H1 2024 from PLN 24,775,454 in H1 2023, while total operating expenses surged to PLN 36,117,307 from PLN 24,178,057 in the same periods.
03
The company experienced an operating loss of PLN 5,352,141 in H1 2024, contrasting with an operating profit of PLN 628,869 in H1 2023.
04
Development expenditure on games increased to PLN 29,611,891 in H1 2024, up from PLN 26,412,763 in H1 2023, with estimated total development costs for three games potentially exceeding PLN 160 million.
05
Frostpunk 2's PC release was postponed from July 25, 2024, to September 20, 2024, following positive feedback from influencer and media previews in May 2024.
06
Finance income decreased significantly to PLN 1,423,440 in H1 2024 from PLN 6,585,053 in H1 2023, primarily due to a lower gain on remeasurement of Starward Industries S.A. shares.
07
The company did not pay dividends in H1 2024 or 2023, with the full net profit for 2023 (PLN 525,609) transferred to statutory reserve funds.