PCF Group

PCF Group S.A. has formally announced a revision to its financial reporting schedule regarding the consolidated semi-annual report for the first half of 2025. The company, which operates within the capital markets sector, has rescheduled the publication date of its financial results from the previously communicated date of September 24, 2025, to September 30, 2025.

This adjustment is executed in accordance with the regulatory requirements set forth by the Minister of Finance regarding the disclosure of current and periodic information by securities issuers. The shift in the reporting timeline serves to finalize the consolidated financial statements for both the PCF Group S.A. Capital Group and the parent entity.

The decision to delay the release by six days follows the initial disclosure of the reporting calendar provided by the company’s management board in January 2025. By aligning with these updated administrative protocols, the organization ensures compliance with legal obligations governing transparency and the dissemination of financial data to shareholders and the broader investment community.

The Zarząd PCF Group S.A. has announced the formal admission and introduction of its series H ordinary bearer shares to trading on the main market of the Warsaw Stock Exchange (GPW). This regulatory disclosure confirms that the management board of the GPW passed a resolution on September 23, 2025, authorizing the listing of 6,670,000 new issue shares, each with a nominal value of 0.02 PLN. The introduction of these shares to the exchange is scheduled for September 25, 2025, contingent upon their registration by the Central Securities Depository of Poland (KDPW) and the assignment of the ISIN code PLPCFGR00010.

This action follows previous corporate communications issued by the company on August 6 and September 15, 2025. The disclosure serves strictly as an informational update regarding the status of the new share issuance and does not constitute an offer, solicitation, or advertisement for the purchase of securities in any jurisdiction. The company emphasizes that the issuance is not subject to a public offering prospectus, as it qualifies for exemptions under the EU Prospectus Regulation.

The scope of this announcement is limited to the Polish market, and the company explicitly prohibits the distribution of this information in the United States, Australia, Canada, Japan, South Africa, or any other jurisdiction where such publication would be unlawful. The shares have not been registered under the U.S. Securities Act of 1933 and are intended solely for qualified investors as defined by applicable financial regulations. The company disclaims any responsibility for the accuracy of these details by third-party managers and notes that all investment decisions should be based on independent analysis of publicly available information.

PCF Group S.A. has finalized the accounting for costs associated with the issuance of 6,670,000 series H ordinary bearer shares. The primary objective of this disclosure is to provide transparency regarding the financial expenditures incurred during the subscription process, ensuring compliance with regulatory requirements for public companies listed on the Warsaw Stock Exchange.

The total cost of the series H share issuance amounted to 265,800.00 PLN. These expenses were exclusively related to the preparation and execution of the offer, as the company did not utilize sub-underwriters, nor was a prospectus required for this specific offering. The breakdown of these costs includes 135,390.00 PLN for legal services, 115,410.00 PLN for transactional advisory services, and 15,000.00 PLN for registration and admission fees with the Central Securities Depository of Poland and the Warsaw Stock Exchange.

The average cost per unit for the subscription of series H shares is approximately 0.04 PLN. In terms of financial reporting, the company has accounted for these issuance costs by reducing the reserve capital derived from the surplus of the issue price over the nominal value of the shares. This summary reflects the final financial impact of the capital increase as of October 2025, confirming that no promotional or additional sub-underwriting costs were incurred during the transaction.

PCF Group S.A. has officially scheduled the global release of the title Tracked: Shoot to Survive for November 13, 2025. This announcement confirms the commercial launch timeline for the project, which was previously developed under the internal codename Bison. The game is specifically optimized for the Meta Quest 3 and Meta Quest 3S virtual reality hardware platforms.

The decision to finalize the release date follows a multi-year development cycle, with initial project disclosures dating back to late 2023 and further updates provided in early 2025. By targeting the Meta Quest ecosystem, the company is positioning this release within the growing sector of standalone virtual reality gaming. This strategic move reflects the studio's ongoing efforts to expand its portfolio within the immersive technology market.

The announcement serves as a formal regulatory disclosure, ensuring transparency regarding the company’s production pipeline and commercial milestones. As the launch date approaches, the focus shifts toward the final deployment of the software to the specified VR platforms. This release represents a significant step in the company's current development roadmap, marking the transition of the project from the production phase to active market availability.

The updated strategy for People Can Fly (PCF Group) marks a transition toward a self-publishing model while maintaining its core expertise in developing high-end shooter games. Having successfully completed its post-IPO objectives, including the expansion of production capacity and the establishment of multiple creative studios across Europe and North America, the company now aims to scale its operations to support the simultaneous development of several ambitious projects. The primary thesis centers on leveraging internal intellectual property and proprietary technology, specifically the PCF Framework and Unreal Engine 5, to deliver high-quality gaming experiences while capturing a larger share of revenue through self-publishing.

Key operational findings highlight a shift from a single-project focus to a multi-project production model supported by over 600 employees. The company has implemented agile methodologies and Centers of Excellence to improve efficiency and risk management. Financial targets are aggressive, with a goal of reaching 3.0 billion PLN in total revenue between 2023 and 2027. To achieve this, PCF plans to release six games over the next four years, focusing on the Games-as-a-Service (GaaS) model to ensure long-term player engagement and recurring revenue. Projects currently in development include Gemini, Dagger, Bifrost, Victoria, and Thunder, with a mix of work-for-hire and self-published titles.

The scope of this strategy covers global operations across seven studios, including locations in Warsaw, Rzeszów, Kraków, Katowice, Newcastle, Montreal, and New York. To fund this expansion, the company intends to raise between 205 million and 295 million PLN through a new share issuance. This capital will be directed toward scaling development teams and supporting the production of its self-published portfolio, with no dividend payments expected before 2025.

PCF Group S.A. has formally announced a revision to its financial reporting schedule for the third quarter of 2025. The primary purpose of this communication is to notify stakeholders and regulatory bodies of a delay in the release of the company’s consolidated quarterly report, which was originally scheduled for publication on November 26, 2025.

The updated timeline establishes December 1, 2025, as the new date for the disclosure of the consolidated financial results for the Group. This adjustment serves to align the company with its ongoing reporting obligations under the relevant financial regulations governing issuers of securities. The change represents a brief postponement of five days from the previously communicated deadline.

This administrative update pertains exclusively to the corporate financial disclosure schedule of PCF Group S.A. for the specified fiscal period. No further details regarding the underlying financial performance or operational status of the company were provided in this notification, as the announcement is strictly limited to the procedural modification of the reporting calendar.

PCF Group S.A. has entered into a conditional agreement with Square Enix Limited to finalize the financial settlement of the Gemini project and formally terminate existing development and publishing partnerships. This agreement marks the conclusion of two long-standing collaborations, specifically the 2020 production-publishing contract for the Gemini project and the 2016 agreement concerning the Madness project. As part of this settlement, both parties have agreed to waive all potential claims arising from their previous professional relationship.

The effectiveness of this agreement is subject to a specific condition precedent involving the transfer of technical assets. PCF Group is required to deliver a comprehensive closing kit containing all development materials related to the Gemini project within 30 days of the agreement date. Square Enix Limited then has a subsequent 30-day window to verify and accept these materials. Should the publisher fail to respond or formally reject the contents of the closing kit, the agreement will expire, and the stipulated legal consequences, including the termination of the contracts and the waiver of claims, will not take effect.

This development represents a strategic shift in the operational relationship between the Warsaw-based developer and the London-based publisher. By resolving these outstanding project obligations, the parties aim to clear the path for future independence or alternative partnerships. The company intends to provide further updates as the verification process for the closing kit progresses and the final status of the agreement is confirmed.

PCF Group S.A. has officially entered into formal negotiations regarding a new service agreement and statement of work with a prominent, unnamed publisher. This development follows the receipt of a formal proposal on December 20, 2025, which the company analyzed before committing to the negotiation process on December 23, 2025. The potential partnership centers on the development of a new video game title, structured under a work-for-hire model where the company will act as the developer in exchange for agreed-upon compensation.

The decision to pursue this collaboration aligns with the company’s long-term strategic goals, specifically the updated corporate strategy announced in January 2023. This strategy explicitly prioritizes the pursuit of high-quality work-for-hire opportunities with reputable industry partners to diversify revenue streams and leverage internal development capabilities. The terms currently under discussion are consistent with standard service agreements typical for large-scale game development projects within the global interactive entertainment industry.

While the initiation of these talks marks a significant step toward securing a new project, the company emphasizes that the negotiations do not guarantee a final binding agreement. The outcome remains subject to the successful conclusion of discussions between the parties. Further updates regarding the status of the contract will be disclosed to the public once a definitive agreement is reached or if the negotiations are terminated.

PCF Group S.A. has initiated significant asset impairment charges following a performance review of the project Victoria, specifically the game Lost Rift, alongside the PCF Framework and associated intangible assets. This decision, finalized in November 2025, reflects a strategic reassessment of the carrying value of these assets as of September 30, 2025. The impairment was triggered by disappointing sales data following the early access launch of Lost Rift on September 25, 2025, compounded by unfavorable player reception and a downward revision of projected future cash flows.

The financial impact of these adjustments is substantial, affecting both the company’s standalone and consolidated financial statements. On a standalone basis, the company recognized an impairment of 88% of the relevant asset value, resulting in a reduction of 126,348 thousand PLN. On a consolidated level, the impairment accounts for 85% of the asset value, totaling 92,045 thousand PLN. While these figures significantly lower the value of fixed assets reported on the balance sheet for the third quarter of 2025, the charges are non-cash in nature and do not impact the company’s EBITDA.

Management maintains the possibility of reversing these impairment charges, either in whole or in part, should market conditions or the commercial performance of the affected assets improve. These figures remain estimates and are subject to final audit verification before the publication of the full 2025 financial statements. The scope of this adjustment is limited to the specific cash-generating unit associated with the Lost Rift project and its supporting technological framework within the broader PCF Group portfolio.

PCF Group S.A. has established its financial reporting schedule for the 2026 fiscal year, ensuring compliance with regulatory requirements for issuers of securities. The primary objective of this disclosure is to provide stakeholders and the investment community with a transparent timeline for the release of audited annual, semi-annual, and quarterly financial statements. This schedule facilitates market predictability and aligns with the company’s obligations under current financial regulations.

The reporting calendar begins on April 23, 2026, with the publication of both the standalone and consolidated annual reports for the 2025 fiscal year. Subsequent disclosures include the consolidated quarterly report for the first quarter of 2026 on May 28, 2026, and the consolidated semi-annual report for the first half of 2026 on September 17, 2026. The final scheduled disclosure is the consolidated quarterly report for the third quarter of 2026, set for November 26, 2026.

In accordance with specific regulatory exemptions, the company will not publish standalone quarterly or semi-annual reports. Furthermore, the company has opted to forgo the publication of quarterly reports for the fourth quarter of 2025, as well as the second and fourth quarters of 2026. By focusing exclusively on consolidated reporting, the company streamlines its financial communication strategy while maintaining adherence to the disclosure standards mandated for the 2026 reporting period.

This administrative instrument facilitates the exercise of voting rights by proxy during the Extraordinary General Meeting of PCF Group S.A., a prominent Polish video game developer and publisher. Scheduled for April 13, 2022, in Warsaw, the meeting serves as a critical governance event for the company. The framework is established in accordance with Article 402 of the Polish Commercial Companies Code, providing a standardized method for shareholders to convey specific voting instructions to their designated representatives.

The scope of the document is limited to the corporate governance of PCF Group S.A. within the Polish legal jurisdiction. It functions as a technical guide rather than a legal power of attorney, requiring shareholders to provide identifying information for both themselves and their proxies. The methodology for casting votes involves a structured grid where shareholders can mark their preferences—for, against, or abstain—for each resolution on the agenda. It also allows for split voting, where a shareholder can allocate different numbers of shares to different voting outcomes, a common necessity for institutional investors managing multiple portfolios.

A significant provision within the instructions addresses the potential for discrepancies between draft resolutions and the final versions presented during the meeting. Shareholders are encouraged to utilize a remarks section to provide contingency instructions, ensuring their intent is preserved even if the wording of a resolution is amended on the floor. This mechanism highlights the procedural rigor required in the management of a publicly traded entity in the gaming industry, ensuring transparency and legal compliance in shareholder communications and decision-making processes.

PCF Group S.A., operating under the People Can Fly brand, has entered into a significant development and publishing agreement with Microsoft Corporation to produce a new AAA video game currently titled Project Maverick. This partnership, formalized on June 13, 2023, establishes a work-for-hire framework where the studio develops the title using intellectual property owned by Microsoft. The agreement aligns with the studio’s updated corporate strategy to pursue high-value collaborative opportunities with major industry publishers alongside its own internal projects.

The financial scope of the project is substantial, with Microsoft providing a total production budget ranging between $30 million and $50 million. Funding is structured around a milestone-based payment system, where the publisher provides capital as the studio completes specific stages of development outlined in a detailed product appendix. This arrangement ensures that the entirety of the production costs is covered by the publisher, mitigating financial risk for the developer while securing a high-budget project for its production pipeline.

The scope of this agreement covers the full development cycle of the game, though specific release windows or geographic target markets are not disclosed. The terms of the contract are described as standard for the industry, containing no unusual conditions or deviations from typical AAA publishing agreements. By securing this contract, People Can Fly reinforces its position as a leading global developer capable of handling large-scale, high-budget productions for major platform holders, leveraging its technical expertise within a secure financial framework provided by one of the industry's largest entities.