Key insights
7 takeaways · ~3 min read- 0111 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.See it on page 39
- 02The 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.See it on page 5
- 03Strong 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.See it on page 36
- 04Moonlighter, 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.See it on page 16
- 05Children 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.See it on page 37
- 06Depreciation 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.See it on page 18
- 07Finance 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.See it on page 19
Summary
Signed by: LETTER FROM THE MANAGEMENT BOARD Dear Shareholders and Investors Przemystaw Marszat Michat Drozdowski President of the Management Board Member of the Management Board Member of the Management Board Please be invited to read the Half-Year Report of 11 bit studios S.A. for the first half of 2019. During the period, we recorded over PLN 30.7m in revenue. Operating profit came in close to PLN 8.7m, with net profit above PLN 6.4m.
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