11 bit studios S.A. reported H1 2019 revenue of over PLN 30.7m, operating profit near PLN 8.7m, and net profit above PLN 6.4m, despite PLN 4.1m in non-cash provisions for their incentive scheme.
02
The company's financial assets (cash, bank deposits, financial instruments, trade receivables) grew by PLN 13m from the end of 2018 to nearly PLN 84m by June 30, 2019, supported by almost PLN 20m in net cash flows from operating activities.
03
Strong sales of Frostpunk and Moonlighter, both over a year old, along with continued contributions from This War of Mine, were the primary drivers of H1 2019 financial performance.
04
Moonlighter, developed by Digital Sun, had over one million players by early Q3 2019, with Nintendo Switch becoming its leading sales platform since Q1 2019, especially after a successful Japanese launch.
05
Children of Morta, a new publishing title, is set to launch for PCs on September 3, 2019, and consoles on October 15, 2019, with strong pre-release interest on Steam suggesting significant commercial potential.
06
Depreciation and amortisation more than doubled to PLN 3,038,143 in H1 2019 due to Frostpunk and Moonlighter being amortised for the full six-month period, unlike the previous year.
07
Finance income dropped by 61.7.1% to PLN 495,721 in H1 2019, primarily because the Polish złoty gained value against the USD and EUR, reversing the favorable currency movements that boosted income in H1 2018.
Insights
01
11 bit studios S.A. reported H1 2019 revenue of over PLN 30.7m, operating profit near PLN 8.7m, and net profit above PLN 6.4m, despite PLN 4.1m in non-cash provisions for their incentive scheme.
02
The company's financial assets (cash, bank deposits, financial instruments, trade receivables) grew by PLN 13m from the end of 2018 to nearly PLN 84m by June 30, 2019, supported by almost PLN 20m in net cash flows from operating activities.
03
Strong sales of Frostpunk and Moonlighter, both over a year old, along with continued contributions from This War of Mine, were the primary drivers of H1 2019 financial performance.
04
Moonlighter, developed by Digital Sun, had over one million players by early Q3 2019, with Nintendo Switch becoming its leading sales platform since Q1 2019, especially after a successful Japanese launch.
05
Children of Morta, a new publishing title, is set to launch for PCs on September 3, 2019, and consoles on October 15, 2019, with strong pre-release interest on Steam suggesting significant commercial potential.
06
Depreciation and amortisation more than doubled to PLN 3,038,143 in H1 2019 due to Frostpunk and Moonlighter being amortised for the full six-month period, unlike the previous year.
07
Finance income dropped by 61.7.1% to PLN 495,721 in H1 2019, primarily because the Polish złoty gained value against the USD and EUR, reversing the favorable currency movements that boosted income in H1 2018.