ReportPCF Group
Raport Bieżący nr 13/2024: Uzgodnienie Planu dla Projektu Gemini
1 pages~2 min full read
PCF Group S.A. has restructured its Project Gemini agreement with Square Enix Limited, shifting the project to a work-for-hire model.
Future revenue from Project Gemini will be capped at covering direct development costs, eliminating the previously anticipated profit margins.
The company expects a decline in both individual and consolidated sales revenue as a direct result of the revised financial terms.
The contract revaluation is being conducted in accordance with International Financial Reporting Standard 15 (IFRS 15).
PCF Group S.A. will cease reporting on individual content riders for this project unless legally mandated to do so.
PCF Group S.A. has finalized the development plan for Project Gemini in collaboration with Square Enix Limited, formalizing the agreement through a new content rider. This development, executed within the European market under a work-for-hire model, marks a significant shift in the commercial framework governing the project. The agreement ensures the continuation of development efforts while fundamentally altering the financial expectations associated with the production-publishing contract.
Under the updated terms, the project will no longer operate under the previously established commercial conditions. Financial projections indicate that future revenue generated from Project Gemini will be limited to covering the direct costs incurred by the company during development. This adjustment necessitates a revaluation of the contract in accordance with the International Financial Reporting Standard 15, which governs revenue from contracts with customers.
The primary consequence of this revised financial structure is a reduction in the profit margins previously anticipated from the partnership with the publisher. Consequently, the company expects a decline in both individual and consolidated sales revenue, as well as a negative impact on overall financial performance. This update serves to align stakeholder expectations with the new economic reality of the project, as the company transitions away from reporting on individual content riders unless legally mandated.
