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Raport Roczny 2011: 11 bit studios
I.! PISMO ZARZĄDU ........................................................................................................... 3! II.! WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI ............... 4! III.! SPRAWOZDANIE FINANSOWE ZA ROK 201111 BIT STUDIOS S.A. .......................................
- 11 bit studios S.A. experienced significant financial growth in 2011, achieving a net profit of 1,292,777.32 PLN, a substantial improvement from a net loss of 231,199.53 PLN in 2010.
- The company's revenue from sales increased dramatically by 544.4% from 474,038.19 PLN in 2010 to 3,054,721.58 PLN in 2011.
- Total operating costs increased by 110.4% from 757,807.86 PLN in 2010 to 1,594,533.17 PLN in 2011.
- Share capital was increased on November 10, 2011, through the issuance of up to 500,000 Series D ordinary bearer shares, each with a nominal value of 0.10 PLN, raising the capital from 187,076.10 PLN to a maximum of 237,076.10 PLN.
- 11 bit studios S.A. continued work on versions of the game "Anomaly Warzone Earth" for additional hardware platforms in 2011, with plans to complete and launch sales in 2012, alongside building new game development teams.
Annual Report 2014: 11 bit studios S.A.
I. PISMO ZARZĄDU ........................................................................................................3 II. WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI...........4 III. SPRAWOZDANIE FINANSOWE 11 BIT STUDIOS S.A. ZA ROK 2014 ...................................5 IV. SPRAWOZDANIE ZARZĄDU Z DZIAŁALNOŚCI SPÓŁKI W ROKU 2014. ............................. 40 V.
- 11 bit studios S.A. released "This War of Mine" in 2014, a milestone game developed in-house, and also launched "Spacecom" through its 11 bit launchpad publishing division.
- The company's total assets significantly increased from 589,514.42 PLN in 2013 to 1,745,563.16 PLN in 2014, driven by growth in intangible assets (from 466,671.58 PLN to 1,444,226.03 PLN) and tangible assets (from 63,180.84 PLN to 103,579.73 PLN).
- Net profit for 2014 was 890,745.75 PLN, a substantial increase from the previous year, with operating profit at 1,248,589.34 PLN.
- 11 bit studios S.A. generates most of its revenue in foreign currencies (primarily USD), meaning a weaker Polish Zloty positively impacts its income.
- The company faces risks including strong competition from other publishers, increasing competition in the game market, the risk of ideas being copied, and the challenge of keeping up with dynamic market trends like Virtual Reality (VR).
Annual Report 2018: 11 bit studios S.A.
wynagrodzenia róznicowana jest w zaleznosci od petnionej funkcji czy zajmowanego stanowiska). Wynagrodzenia uzyskiwane przez osoby zarzadzajace oraz osoby zarzadzajace wyzszego szczebla w Spótce obejmuje wynagradzanie akcjami, opcjami na akcje lub innymi prawami nabycia akcji, jak równiez wynagrodzenie nie jest ustalane w oparciu o zmiany cen akcji. PISMO ZARZĄDU WEWNETRZNEJ I ZARZADZANIA RYZYKIEM Szanowni Akcjonariusze i Inwestorzy raportów finansowych.
- 11 bit studios S.A. had an exceptional year in 2018, driven by the successful launches of "Frostpunk" (April 24) and "Moonlighter" (May 29), both of which quickly became bestsellers on platforms like Steam.
- The company actively supported its top games, "Frostpunk" and "Moonlighter," with significant free DLC releases throughout 2018, including "Survivor Mode," "The Fall of Winterhome," and "Endless Mode" for "Frostpunk," and "The Binding of Will" for "Moonlighter," which boosted sales and player engagement.
- Total capital expenditures on tangible assets (primarily real estate for a new office at Brzeska 2) and intangible assets (primarily game production) significantly increased from PLN 7,372,863 in 2017 to PLN 26,571,879 in 2018.
- NN Investment Partners TFI S.A. increased its stake in 11 bit studios S.A. to 5.21% of the share capital (119,229 shares) on June 15, 2018, up from 4.93% (112,476 shares) previously.
- 11 bit studios S.A. continued its charitable activities in 2018, donating a portion of revenue from the "War Child Charity DLC" for "This War of Mine" to War Child UK, an organization assisting child victims of war.
Annual Report 2017: 11 bit studios
2.2. SPRAWOZDANIE Z SYTUACJI FINANSOWEJ (PLN) AKTYWA PISMO ZARZĄDU Nota Stan na Stan na 31.12.2017 31.12.2016 Aktywa trwate Warszawa, 26 marca 2018 roku Rzeczowe aktywa trwate 3.11. 814 332 779 540 Szanowni Akcjonariusze i Inwestorzy 3.12.
- 11 bit studios S.A. focused heavily on "Frostpunk" in 2017, anticipating it will drive financial results for years, with its release scheduled for April 24, 2018.
- The company continued developing "This War of Mine" in 2017, releasing the "Fathers Promise" DLC on November 14, with two more "TWoM: Stories" DLCs planned for 2018. They also began work on a new game, "Projekt 8," involving a 20-person team, to be released after "Frostpunk."
- 11 bit publishing released two external games in 2017: "Beat Cop" (March 30) and "Tower 57" (November 16), with external game sales contributing over 10% to total revenue and recouping investment within months.
- Operating profit for 2017 was 7,619,936 PLN, a 50.69% decrease from 15,454,560 PLN in 2016, despite a 5.64% increase in operating costs to 11,845,351 PLN (from 11,212,540 PLN in 2016) and increased promotional spending.
- 11 bit studios S.A. sold its 100% stake in subsidiary Games Republic Limited to Lousva Trading Limited on April 11, 2017, dissolving the 11 bit studios S.A. Capital Group.
Annual Report 2015: Financial Statement
RAPORT ROCZNY11 BIT STUDIOS S.A. SPRAWOZDANIE FINANSOWE 11 BIT STUDIOS S.A. ZA 2015 ROK Pozostate koszty operacyjne 226 247 0,00 226 247 Zysk / (Strata) z dziatalnosci operacyjnej 11 244 147 - 54 945 11 189 201 1.
- 11 bit studios S.A. reported an operating profit of 11,189,201 PLN for the 2015 fiscal year.
- The company's operating profit figure of 11,189,201 PLN was derived from an initial operating profit of 11,244,147 PLN adjusted by 54,945 PLN in losses.
- Other operating costs for the 2015 period totaled 226,247 PLN.
Raport Roczny 2020: 11 bit studios S.A.
RAPORT ROCZNY 11 BIT STUDIOS S.A. ZA 2020ROK Warszawa, 28 kwietnia 2021 roku Szanowni Akcjonariusze i Inwestorzy Serdecznie zapraszamy Was do lektury Raportu rocznego 11 bit studios S.A. za 2020 rok. Nie ukrywamy, że z uwagi na pandemię COVID-19 był to rok dużych wyzwań jeśli chodzi o zarządzanie firmą i prowadzenie biznesu.
- 11 bit studios S.A. generated total revenue of 87,101,774 PLN in 2020, an increase from 71,221,248 PLN in 2019.
- The company's net profit in 2019 was restated from 21,710,280 PLN to 23,726,914 PLN due to adjustments related to the Motivational Program and ground value presentation.
- Revenue from external development studios' games, including "Moonlighter" and "Children of Morta," accounted for 29% of the company's revenue in 2020, down from 40% in 2019.
- The game "This War of Mine," released in November 2014, continued to provide a noticeable revenue stream in 2020.
- In 2020, 11 bit studios S.A. secured revenue from an agreement with Microsoft to include "Frostpunk" (January 9, 2020) and "Children of Morta" (January 16, 2020) in the Xbox Pass subscription service.
Annual Report 2019: 11 bit studios S.A.
RAPORT ROCZNY 11 BIT STUDIOS S.A. ZA 2019ROK. Szanowni Akcjonariusze i Inwestorzy Zapraszamy Was do zapoznania się z Raportem Rocznym 11 bit studios S.A. za 2019 rok. Dla naszej Spółki był to bardzo dobry rok, zarówno od strony biznesowej jak i finansowej. Wypracowaliśmy 71,2 mln PLN przychodów ze sprzedaży, 30,3 mln PLN wyniku EBITDA, blisko 23,9 mln PLN zysku operacyjnego i ponad 21,7 mln PLN zysku netto.
- 11 bit studios S.A. experienced significant financial growth in 2019, with total liabilities increasing from 19,351,248 PLN in 2018 to 35,928,089 PLN, and total assets (PASYWA RAZEM) rising from 109,262,821 PLN to 155,668,388 PLN.
- The company's financial assets grew substantially, with total financial assets increasing from 70,897,588 PLN in 2018 to 99,962,014 PLN in 2019, driven by a significant increase in bank deposits over 3 months (from 27,000,000 PLN to 67,328,563 PLN).
- International sales constituted a dominant portion of 11 bit studios S.A.'s revenue, accounting for 97.9% of total revenues in 2019, an increase from 96.5% in 2018.
- 11 bit studios S.A. invested 5,126,422 PLN in 2019 for the renovation and modernization of its new headquarters at Brzeska 2 in Warsaw, which it occupied in March 2020.
- The global video game market grew by 9.6% in 2019 to 152.1 billion USD and is projected to continue growing, reaching 164.6 billion USD in 2020 and 196 billion USD by 2022.
Raport Roczny 11 bit studios: 2022
RAPORT ROCZNY 11 BIT STUDIOS ZA 2022 ROK (wszystkie kwoty podane są w złotych o ile nie podano inaczej) SZANOWNI AKCJONARIUSZE I INWESTORZY Serdecznie zapraszamy Państwa do lektury Raportu rocznego 11 bit studios S.A. za rok 2022. Był to dla nas, z uwagi na trudne otoczenie makroekonomiczne (spowolnienie gospodarcze, wysoka inflacja) i geopolityczne (wojna na Ukrainie), bardzo intensywny, wymagający rok.
- 11 bit studios S.A. aims to be an "alternative to the mainstream" in gaming, focusing on high-quality, distinctive titles with increasing production and marketing budgets, targeting one new proprietary game release annually in the medium term.
- The company plans to expand its publishing activities, releasing 3-4 titles from external studios annually in the medium term, alongside its own games, to stabilize financial results.
- 11 bit studios S.A. is developing three internal development teams to work on three parallel titles, aiming for releases every few quarters and optimizing resource utilization.
- The company's functional and reporting currency is the Polish Złoty, and it recognizes revenue from PC/console and mobile games after platform deductions, while acting as a principal for games published from external developers.
- In 2022, the company's net cash flow from operating activities was 32,931,559 PLN, a decrease from 40,942,289 PLN in 2021, despite a lower profit for the year (22,889,816 PLN in 2022 vs. 28,685,582 PLN in 2021).
Annual Report of 11 bit studios S.A.: 2023
ANNUAL REPORT OF 11 BIT STUDIOS S.A. FOR 2023 (all amounts in PLN unless stated otherwise) DEAR SHAREHOLDERS AND INVESTORS, Please be invited to read 11 bit studios S.A.’s 2023 This past year has brought significant achievements in both sales and game production. We launched a number of major titles that had been in development for some time.
- 11 bit studios S.A. generated PLN 21,147,406 in cash flows from operating activities in 2023, a 37.97% decrease from 2022, despite no new game releases significantly contributing to financial performance. This was driven by strong sales of older titles like Frostpunk, Moonlighter, Children of Morta, This War of Mine, and The Invincible.
- The company significantly increased capital expenditure in 2023, spending PLN 58,813,599 on property, plant, and equipment and intangible assets (up from PLN 45,679,530 in 2022), primarily for new proprietary games (Frostpunk 2, The Alters, Project 8) and publishing division games.
- Contract liabilities surged to PLN 13,355,194 as of December 31, 2023, from PLN 1,128,700 in 2022, representing advance payments from trading partners, including Microsoft Corporation, for future game sales, payable within 24 months.
- The global gaming industry is projected to return to growth, with Newzoo forecasting spending of USD 205.4 billion by 2026 (11.6% more than 2023) and the number of gamers reaching 3.675 billion by 2026 (a CAGR of 3.7% from 2021-2026).
- 11 bit studios S.A. aims to fund its development and publishing activities internally for at least the next few quarters, reducing reliance on external funding or funds from trading partners.
Annual Report: 11 Bit Studios S.A. 2024
ANNUAL REPORT OF 11 BIT STUDIOS S.A. FOR 2024 (all amounts in PLN unless stated otherwise) DEAR SHAREHOLDERS AND INVESTORS, It is with great pleasure that we present to you our Annual Report for 2024. During this period, 11 bit studios S.A. generated revenue of PLN 140.54 million, marking a 168.9% increase year on year and representing an all-time record for the Company.
- 11 Bit Studios S.A. is a computer game developer and publisher, with Frostpunk 2 (PC version) being a major recent success, selling 350,000 copies within three days of its September 20, 2024 launch and reaching 592,000 total unit sales by the end of 2024.
- The company's equity has grown significantly, from PLN 42.13 million in 2017 to PLN 229.92 million in 2024, reflecting a higher net profit in 2024 compared to 2023.
- Cash resources increased by 29.56% to PLN 70,463,596 at the end of 2024, up from PLN 54,386,466 in 2023, and total financial assets reached PLN 91,543,938.
- Total liabilities increased by 3.59% to PLN 32,384,084 in 2024, with current liabilities rising 12.66% to PLN 27,830,893, including PLN 11,002,109 in contract liabilities for future game sales and DLCs.
- The company has a multi-purpose credit facility of PLN 20,000,000 with PKO BP S.A. until June 25, 2025, which had no drawdowns as of the reporting date, and an investment credit facility with PKO BP S.A. of PLN 5,040,000 outstanding as of December 31, 2024.
Quarterly Report of 11 Bit Studios S.A.: Q1 2019
portfolio of proprietary games) is expected to help stabilise the Company's financial results, which in the video games industry are typically highly volatile. The Company's revenue sources should also be considerably impacted by further development of its publishing division (11 bit publishing), which in 2018, driven primarily by the very successful release of Moonlighter, contributed 18% of the LETTER FROM THE MANAGEMENT BOARD ...
- 11 bit studios S.A. experienced a significant revenue increase of nearly 632% in Q1 2019 compared to Q1 2018, reaching PLN 14,183,796, primarily driven by strong sales of Frostpunk and This War of Mine.
- Operating expenses rose by 267.5% to PLN 8,524,924 in Q1 2019 (from PLN 3,186,555 in Q1 2018), with major items being salaries and wages (PLN 3,306,961), services (PLN 3,367,572, including Moonlighter royalties), and a non-cash provision for the Incentive Scheme (over PLN 2.05m).
- The company's publishing division, 11 bit publishing, contributed 18% of total revenue in 2018, largely due to the successful release of Moonlighter, and is expected to considerably impact future revenue.
- The porting of Beat Cop to PS4, Xbox One, Nintendo Switch, iOS, and Android, released in Q1 2019, proved profitable and supported the company's financial performance.
- 11 bit studios S.A. aims to stabilize its typically volatile financial results through its portfolio of proprietary games and plans to launch third-party games every quarter through its publishing arm.
Semi-Annual Report of 11 bit studios S.A. for H1 2018
LETTER FROM THE MANAGEMENT BOARD LETTER FROM THE MANAGEMENT BOARD Dear Shareholders and Investors Dear Shareholders and Investors It is our great pleasure to present to you the half-year report of 11 bit studios S.A. for the first half of 2018. It was a Property, plant and equipment 3.9 715,168 814,332 very important period for our Company.
- 11 bit studios S.A. released Frostpunk in H1 2018, its largest and most expensive game to date, selling 250,000 copies in 66 hours and covering development costs. The company expects Frostpunk to be a significant revenue source for multiple quarters.
- The company's revenue increased by 427.4% in H1 2018 compared to H1 2017, driven by the successful launches of Frostpunk (April 24, 2018) and the published title Moonlighter (May 29, 2018).
- Moonlighter, a game published by 11 bit studios S.A., became a bestseller on Steam, demonstrating the company's strong publishing capabilities for independent developers. A Nintendo Switch version of Moonlighter is planned for later in 2018.
- 11 bit studios S.A. plans to continue supporting This War of Mine with two more add-ons and a Nintendo Switch release by the end of 2018, and Beat Cop will also launch on PS4 and Nintendo Switch by year-end.
- The company is developing a new game, 'Project 8,' which is in an advanced prototype stage, aiming for a team size and budget comparable to Frostpunk. In the medium term, 11 bit studios S.A. plans to have at least three comparable development teams to increase release frequency and stabilize financial results.