ReportPCF Group
Raport Bieżący Nr 31/2024: Podjęcie Decyzji o Zawieszeniu Dalszych Prac nad Projektem Victoria
2 pages~2 min full read
PCF Group S.A. has indefinitely suspended all development and publishing activities for Project Victoria due to a failure to secure the capital required for production and self-publishing.
See it on page 1The project's original 2026 early access release schedule has been formally abandoned.
See it on page 1The suspension has triggered a workforce restructuring that includes both temporary layoffs and permanent redundancies for the dedicated development team.
See it on page 1Management will conduct formal impairment testing on capitalized development costs in accordance with International Accounting Standard 36, with results to be reflected in the 2024 annual financial statements.
See it on page 2Future reactivation of Project Victoria remains contingent upon the company's ability to secure external financing.
See it on page 2PCF Group S.A. has officially suspended all development and publishing activities related to Project Victoria, a title previously slated for an early access release in 2026. This decision follows the conclusion of a strategic review and stems directly from the company’s inability to secure the necessary capital to fund the project’s continued production and self-publishing requirements. The suspension is indefinite, as the company continues to seek external financing options that could potentially facilitate a future resumption of the project.
The operational impact of this decision involves significant workforce restructuring within the dedicated development team. A portion of the staff will be placed on temporary layoff, a status that maintains the employment relationship for a legally defined period without the requirement for work or compensation, while the remainder of the team faces permanent redundancy. Furthermore, the established production and publishing schedule for the title has been formally abandoned.
From a financial perspective, the company has identified the suspension as a trigger for potential impairment of capitalized development costs. In accordance with International Accounting Standard 36, management will conduct formal impairment testing based on financial data as of December 31, 2024. The results of these tests will be incorporated into the company’s annual financial statements for 2024. Future decisions regarding the project, including the possibility of permanent cancellation or eventual reactivation, remain contingent upon the success of ongoing efforts to secure adequate funding.
