Updated Mar 17, 2026 by PCF Group
PCF Group S.A. officially terminated development of Project Red on 10 September 2024 due to a lack of external publishing partners and insufficient internal capital.
The company will reallocate the development team previously assigned to Project Red to a new project, Project Echo, which is backed by an external publisher.
The cancellation resulted in a 100 percent impairment of capital invested in Project Red as of 30 June 2024.
The write-down reduces the company's standalone non-current assets and net profit for the first half of 2024 by 8,846 thousand złoty.
On a consolidated basis, the impairment reduces the Group’s half-year net profit and non-current assets by 7,719 thousand złoty.
The impairment is a one-off, non-cash accounting entry that does not impact EBITDA at either the standalone or consolidated level.
PCF Group S.A. officially terminated development of Project Red on 10 September 2024 due to a lack of external publishing partners and insufficient internal capital.
The company will reallocate the development team previously assigned to Project Red to a new project, Project Echo, which is backed by an external publisher.
The cancellation resulted in a 100 percent impairment of capital invested in Project Red as of 30 June 2024.
The write-down reduces the company's standalone non-current assets and net profit for the first half of 2024 by 8,846 thousand złoty.
On a consolidated basis, the impairment reduces the Group’s half-year net profit and non-current assets by 7,719 thousand złoty.
The impairment is a one-off, non-cash accounting entry that does not impact EBITDA at either the standalone or consolidated level.