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Legal
Sprawozdanie Rady Nadzorczej PCF Group S.A. Z siedzibą w Warszawie za Rok Obrotowy 2023
The supervisory board’s 2023 assessment of PCF Group S.A. serves to verify the integrity of the company’s financial reporting, evaluate the proposed loss‑coverage measures, and confirm compliance with applicable Polish commercial law and International Financial Reporting Standards. The review covers both the standalone financial statements of PCF Group S.A. and the consolidated statements of its capital group for the fiscal year ending 31 December 2023, encompassing the Polish market and the group’s full corporate structure. The standalone balance sheet records total assets of 502,508 thousand zł, while the income statement shows a net loss of 64,652 thousand zł and a corresponding negative total comprehensive income of the same amount. Equity increased by 171,253 thousand zł, and cash flow improved by 48,397 thousand zł. The consolidated balance sheet lists assets of 513,461 thousand zł, a net loss of 75,575 thousand zł, and a total comprehensive loss of 80,889 thousand zł. Consolidated equity rose by 150,251 thousand zł, but cash flow declined by 56,033 thousand zł. The board recommends that the ordinary shareholders’ meeting approve these statements and endorse the management’s proposal to cover the entire net loss of 64,651,944.69 zł using the company’s reserve capital. The evaluation was conducted in accordance with Articles 382 and 395 of the Polish Commercial Companies Code, drawing on the annual standalone and consolidated financial reports, the management’s activity report, and the independent auditor’s opinion. The supervisory board confirmed that all documents were prepared in line with IFRS endorsed by the European Union, reflected the true financial position, and were submitted within statutory deadlines. It also affirmed that the management fulfilled its informational duties under Article 380¹, providing regular updates on operational, investment, and personnel matters without any additional requests for documentation. Overall, the board’s positive assessment underscores the adequacy of the financial disclosures, the feasibility of the loss‑coverage plan, and the company’s adherence to governance and reporting standards for the 2023 fiscal period.
PCF GroupApr 2024
Legal
Sprawozdanie Rady Nadzorczej PCF Group S.A. z siedzibą w Warszawie za rok obrotowy 2024
The Supervisory Board of PCF Group S.A. issued this formal report to evaluate the company’s financial standing and management performance for the 2024 fiscal year. The primary purpose is to provide shareholders with an assessment of the individual and consolidated financial statements, the Management Board's activity reports, and the proposed allocation of financial results. The scope covers the operations of the Warsaw-based parent company and its capital group from January 1 to December 31, 2024, prepared in accordance with International Financial Reporting Standards and Polish commercial law. Financial data reveals a challenging year for the group. PCF Group S.A. reported an individual net loss of 228.6 million PLN, with total assets valued at 315.2 million PLN and a net decrease in cash of 63.4 million PLN. On a consolidated basis, the capital group recorded a net loss of 175.3 million PLN against total assets of 373.4 million PLN. The Supervisory Board approved the Management Board's proposal to cover the individual net loss entirely through the company's supplementary capital. The report also highlights significant strategic shifts occurring in late 2024. Following a review of strategic options, the company decided to reduce the development team for Project Bifrost and suspended further work on Project Victoria. Despite these operational setbacks, the Supervisory Board concluded that the financial statements and management reports provide a fair and accurate representation of the company’s situation. Consequently, the Board recommended that the General Meeting approve the submitted documents and discharge the Management Board of its duties for the period.
PCF GroupMay 2025
Legal
Supervisory Board Report on 2021 Financial Audit Results
The Supervisory Board of PCF Group S.A. issued a formal evaluation of the company’s financial performance and management activities for the fiscal year ending December 31, 2021. The primary purpose of the report is to validate the accuracy of the financial statements and provide recommendations to the General Meeting regarding the approval of these results and the distribution of profits. The scope covers both the individual standing of PCF Group S.A. and the consolidated performance of its entire Capital Group. Key financial data for the 2021 period shows that PCF Group S.A. achieved a standalone net profit of 41.75 million PLN, with total assets valued at 256.88 million PLN and a net cash flow increase of 57.80 million PLN. On a consolidated basis, the Capital Group reported a significantly higher net profit of 61.33 million PLN and total assets of 316.69 million PLN. The Supervisory Board confirmed that these figures were prepared in accordance with International Financial Reporting Standards as adopted by the European Union and accurately reflect the company's financial reality. Regarding profit allocation, the Board endorsed the Management Board’s proposal to distribute the 41.75 million PLN standalone net profit by issuing a dividend of 0.27 PLN per share, totaling approximately 8.09 million PLN. The remaining 33.67 million PLN is slated for transfer to the company’s supplementary capital. The Board concluded that the management reports provide a transparent view of the Group’s development, achievements, and risk factors, meeting all legal requirements for public securities issuers. The evaluation was based on a review of internal accounting books, management reports, and the findings of an independent auditor's report.
PCF GroupJun 2022
Legal
Raport Bieżący nr 25/2021
The Management Board of PCF Group S.A., the Warsaw-based parent company of the People Can Fly development studio, issued a formal notification on May 26, 2021, to convene an Ordinary General Meeting of shareholders. Scheduled for June 22, 2021, in Warsaw, the meeting serves as the primary corporate governance event for reviewing the company’s performance and financial standing following its 2020 fiscal year. This period is particularly significant as it covers the studio's operations and financial results leading up to and following its transition to a publicly traded entity on the Warsaw Stock Exchange. The primary agenda focuses on the formal approval of financial statements for both the individual company and the larger capital group for the fiscal year ending December 31, 2020. Key documentation provided for shareholder review includes the Supervisory Board’s evaluation of the 2020 financial audits, reports on the activities of the Audit Committee, and a comprehensive remuneration report for members of the Management and Supervisory Boards covering the 2019 and 2020 periods. An independent auditor’s report is also included to provide reasonable assurance regarding the disclosed compensation data. A critical component of the proceedings involves the Management Board’s proposal for the distribution of net profit earned during the 2020 financial year. The meeting aims to ratify these financial results and discharge board members of their duties for the previous year. These actions are conducted in accordance with the Polish Commercial Companies Code and the disclosure requirements for issuers of securities, ensuring transparency for investors regarding the studio's fiscal health and executive governance. All relevant materials, including the previously published annual report, were made available through the company’s investor relations portal and its corporate headquarters.
PCF GroupMay 2021