PresentationPCF Group
Financial Results Presentation: Half Year 2022
29 Sept 202213 pages~7 min full read
PCF Group S.A. achieved a 17.2% revenue increase to 90.6 million PLN and a 17.5% net profit rise to 25.5 million PLN for the first half of 2022.
See it on page 7The company is executing a dual-track production strategy aiming for at least one game release annually starting in 2024 through a mix of publisher-funded and self-publishing models.
See it on page 3Investment in development work in progress surged by 152.9% during the period, signaling a significant ramp-up in production activity across the group's seven active projects.
See it on page 4The group maintains a strong financial position with 134.6 million PLN in cash and a 9.1% increase in equity to 283.1 million PLN.
See it on page 8The workforce expanded from 495 to 580 employees by June 30, 2022, supported by the acquisition of Incuvo and the implementation of the proprietary PCF Framework for multi-studio development.
See it on page 5Geographic expansion continues with established offices now operating in Warsaw, New York, Chicago, Montreal, and Newcastle.
See it on page 5PCF Group S.A. presents its financial and operational results for the first half of 2022, highlighting a period of steady growth and strategic expansion. The primary objective is to maintain its trajectory toward becoming a leading global independent developer by implementing a dual-track production model. This strategy involves releasing at least one game annually starting in 2024, utilizing both traditional publisher-funded partnerships and a self-publishing framework.
Financial performance for HY 2022 shows a 17.2% increase in revenue, reaching 90.6 million PLN compared to 77.3 million PLN in HY 2021. Net profit rose by 17.5% to 25.5 million PLN. EBITDA remained stable at 29.0 million PLN, while adjusted EBITDA, accounting for warrant valuations under IFRS2, grew by 7.6% to 29.7 million PLN. The group’s balance sheet remains strong with 134.6 million PLN in cash and a 9.1% increase in equity to 283.1 million PLN. Notably, investment in development work in progress surged by 152.9%, reflecting intensified production activity.
The group’s portfolio currently consists of seven projects, including two VR titles. Key projects such as Gemini and Dagger are in pre-production, with others like Bifrost and Victoria also in development. Geographically, the company has expanded its footprint across Europe and North America, with offices in Warsaw, New York, Chicago, Montreal, and Newcastle. The total workforce grew from 495 at the end of 2021 to 580 by June 30, 2022, supported by the acquisition of Incuvo and the expansion of the PCF Framework, a proprietary software suite designed to streamline multi-studio game development.
