PCF Group

Game Co.

601 documents

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Terminy publikacji raportów okresowych: PCF Group S.A. 2026

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.

investment europe

PCF Group

Report

Results: What's Next - Focus on Cash Flow

The analysis outlines a strategic pivot toward cash‑flow optimization for the company, driven by recent shifts in the VR market and a need to secure additional financing. Revenue growth in 2024 reached PLN 190.4 million, largely supported by the launches of Project Maverick and Project Echo, as well as the January 2024 release of Bulletstorm VR. However, profitability suffered due to write‑offs of the Red and Bifrost projects and a decline in 2Q revenues linked to Gemini negotiations, resulting in an EBITDA of PLN 12.9 million and a net loss of PLN 175.3 million. Operationally, the organization is trimming non‑essential spend and restructuring office space and team composition to reduce overhead. The workforce, which expanded from 612 employees in 2020 to 756 by the end of 2024, is being realigned with a focus on critical projects. The company has ceased further investment in VR development following the 2024 platform subsidy withdrawal, redirecting resources toward AAA and compact‑AAA titles. Future initiatives include two new work‑from‑home projects with Sony Interactive Entertainment, the self‑publishing of Project Bison (the final VR title from PCF Group) slated for Q4 2025, and an early‑access release of Lost Rift in 2025. Krafton’s waiver of ROFO/ROFR rights for Bifrost and Victoria frees the company to seek external publishers. Scenario analysis is underway to identify additional funding sources, ensuring liquidity while maintaining a lean operational model across global studios in Warsaw, Montreal, Newcastle, Dublin, Katowice, and Rzeszów.

game-development game-publishing vr+3

PCF Group

Report

Raport bieżący nr 11/2021Ujawnienie opóźnionej informacji poufnej o zawarciu przez PCF Group S.A. listu intencyjnego dotyczącego przejęcia zespołu deweloperskiego Phosphor Games, LLC

The report discloses that PCF Group S.A., a Warsaw‑based holding, entered into an intention letter on 31 March 2021 to acquire the development team of Phosphor Games, LLC, a Chicago‑based studio. The transaction is subject to an exclusive negotiation period until 30 April 2021 and involves a loan of USD 5 million to the group’s subsidiary People Can Fly U.S., LLC, with LIBOR plus 2 % interest over ten years. The loan is secured by the subsidiary’s intellectual property and is intended to fund the acquisition of Phosphor Games’ team. The report clarifies that signing the intention letter and initiating negotiations does not guarantee completion of the acquisition, noting potential risks to negotiation outcomes. The disclosure was delayed until 23 April 2021 in accordance with Article 17(4) of the EU Market Abuse Regulation (MAR). Management justified the delay by citing legal and commercial considerations: premature disclosure could jeopardise negotiation dynamics, affect transaction terms, or mislead the market. The report outlines that confidentiality was maintained through a controlled list of personnel with access to the information, updated per MAR requirements. Upon publication, PCF Group S.A. will notify the Polish Financial Supervision Authority of the delay and its compliance with MAR provisions. The scope covers a single acquisition transaction involving U.S. entities, with financial terms specified in USD and interest linked to LIBOR. The methodology is a regulatory compliance disclosure, referencing MAR articles and European Securities and Markets Authority guidance on delayed information release.

mergers-acquisitions investment pc+1

PCF Group

Report

Raport Bieżący Nr 7/2021: Wyznaczenie Ostatniego Dnia Notowania Praw do Akcji Serii B

The report announces that on February 1, 2021 the board of PCF Group S.A. received confirmation from the Warsaw Stock Exchange (GPW) regarding two key decisions affecting the company’s Series B ordinary shares. First, GPW’s resolution No. 86/2021 designates February 2, 2021 as the final trading day for 2,062,512 Series B shares, each with a nominal value of 0.02 PLN and identified by ISIN PLPCFGR00036. Second, resolution No. 87/2021 authorises the introduction of the same number of Series B shares into primary market trading on February 3, 2021, contingent upon the National Securities Depository’s registration of these shares and assignment of ISIN PLPCFGR00010. Both resolutions became effective immediately upon adoption. The document serves to inform shareholders and market participants of the scheduled cessation of trading for existing Series B shares and the subsequent listing of newly issued shares, thereby ensuring compliance with Polish financial regulations. It references § 17(1)(4) of the 2018 Ministerial Regulation on ongoing and periodic information required from issuers, underscoring the legal basis for disclosure. No additional data such as market impact figures or investor surveys are included; the focus remains strictly on procedural dates, share quantities, nominal values, and ISIN identifiers. The scope is limited to PCF Group S.A.’s Series B ordinary shares within the Polish capital market, covering a single time frame in early February 2021.

investment ipo europe+1

PCF Group

Report

Prezentacja Wyników Finansowych Q2 2022

The presentation reports PCF Group S.A.’s financial performance for the first half of 2022, comparing it to the same period in 2021 and to full‑year 2021 figures. Total revenue rose from PLN 90.6 million in HY 2021 to PLN 77.3 million in HY 2022, a 17.2 % decline, driven by lower game‑development and outsourcing income. EBITDA remained relatively flat, moving from PLN 28.8 million to PLN 29.0 million (+0.7 %), while net profit increased by 17.5 % to PLN 21.7 million from PLN 25.5 million in HY 2021. The company’s equity grew to PLN 259.5 million, up 9.1 % from PLN 283.1 million in FY 2021, and the asset‑to‑liability ratio improved by 17.5 %. Operating cash flow was slightly negative, with PLN 134.6 million in liquid assets versus PLN 137.1 million in assets, a 1.8 % decline. Strategically, PCF Group is positioning itself as a leading independent studio portfolio. The group plans to launch an annual flagship title from 2024 onward, pursue new genres and VR development, and expand its workforce to over 580 employees by the end of 2022. The portfolio includes pre‑production projects such as “Bulletstorm,” “Gemini,” and “Dagger,” with several titles slated for European release in 2024 and North American launches pending. The group’s geographic footprint spans Warsaw, Chicago, Montreal, Kraków, and Rzeszów, with a growing presence in North America. Methodologically, the figures derive from internal financial statements and are presented as rounded values; future projections are noted to be subject to change. The presentation emphasizes that it is informational only and not an investment recommendation.

market-analysis investment europe

PCF Group

Report

Review Report of the Condensed Interim Consolidated Financial Statement: 2024

The review confirms that the condensed interim consolidated financial statements of PCF Group Spółka Akcyjna, prepared for the period ending 30 June 2024 and presented in accordance with International Financial Reporting Standard 34, appear to have been prepared without material misstatement. The audit was performed under Polish National Standard 2410, equivalent to the International Standard on Review Engagements, and involved inquiry procedures, analytical reviews, and other review activities directed at financial and accounting personnel. The scope of the engagement is limited to a reasonable assurance that no material issues have been identified, and therefore an audit opinion was not expressed. Key disclosures highlighted in the management’s notes include significant uncertainty regarding the Group’s ability to continue as a going concern. Management has undertaken actions to secure additional financing to support its strategy of developing and publishing proprietary games, though the outcome remains uncertain. The review notes that no modifications were made to the auditor’s conclusions regarding this matter. Another focus of the notes is the Group’s intangible assets related to work in progress on new games, valued at PLN 165,284 thousand as of 30 June 2024. Management asserts that these assets meet IAS 38 criteria for capitalization, contingent on the availability of sufficient financial resources. A five‑year cash‑flow forecast underpins this valuation, but the auditor cautions that its feasibility depends on future events that are not guaranteed. The review covers the Polish market, specifically PCF Group’s operations in Warsaw and its consolidated entities. No audit procedures beyond the review scope were performed, and no assurance is provided that all material matters have been disclosed.

investment europe

PCF Group

Report

Independent Auditor's Report on the Consolidated Financial Statements: 2020

The audit opinion confirms that the 2020 consolidated financial statements of PCF Group Spółka Akcyjna and its subsidiaries present a true and fair view of the group’s financial position, performance, and cash flows in accordance with International Financial Reporting Standards (IFRS) and related EU regulations. The audit was conducted under Polish statutory requirements, International Standard on Auditing (ISA) 200 and related national standards, with the auditor maintaining independence in line with IESBA ethics. The audit scope covered all financial statements, including the statement of changes in equity, cash‑flow statement, and additional disclosures, but did not extend to future profitability or management effectiveness. Key audit areas included revenue recognition under IFRS 15, valuation of customer‑contract assets, and assessment of significant estimates such as variable consideration, warranties, and performance obligations. The auditor obtained sufficient appropriate evidence to support the opinion and identified no material misstatements or significant uncertainties affecting the group’s ability to continue as a going concern. The report also addresses other statutory disclosures, including the annual activity report and corporate governance statement, affirming compliance with Polish accounting law and regulatory requirements. The audit engagement was continuous for two fiscal years (2019–2020), with the 2020 statements being the first after the group’s shares were listed on the Warsaw Stock Exchange. The auditor’s responsibilities, management’s duties, and audit procedures are detailed, underscoring the rigorous nature of the examination and the auditor’s professional skepticism throughout the engagement.

investment europe game-development

PCF Group

Report

Raport Bieżący Nr 18/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Bifrost

PCF Group S.A. has initiated a significant workforce reduction following the recent suspension of development on Project Bifrost. This strategic decision marks a shift in the company’s internal resource allocation, as the project was previously being developed under a self-publishing model funded entirely by the company’s own capital. The move reflects a broader effort to streamline operations and mitigate financial exposure associated with the project’s cessation. The restructuring impacts over 50 employees who were directly involved in the development of Project Bifrost. To retain institutional knowledge and maintain operational continuity, the company has extended offers to the remaining staff members to transition into roles within other active projects currently under development by the group. This approach aims to preserve human capital while pivoting resources toward more viable production pipelines. These actions represent a definitive step in the company’s management of its current portfolio. By reassigning personnel and reducing the headcount associated with the halted project, the organization is adjusting its cost structure to align with its updated strategic priorities. Future updates regarding the status of Project Bifrost will be disclosed as they arise, ensuring transparency regarding the company’s ongoing development activities and organizational adjustments.

game-development employment investment+1

PCF Group

Report

Półroczne sprawozdanie Zarządu z działalności Grupy Kapitałowej PCF Group S.A.: 1 stycznia 2024 – 30 czerwca 2024

WARSZAWA | 30 WRZENIA 2024 ROKU PEOPLE PÓEROCZNE SPRAWOZDANIE ZARZADU Z DZIAEALNOSCI GRUPY KAPITALOWEJ PCF GROUP S.A. ORAZ SPÓEKI PCF GROUP S.A. ZA 0KRES 01.01.2024 - 30.06.2024 za okres 01.01.2024 – 30.06.2024 r. (dane w tys. zł, chyba że zaznaczono inaczej) Niniejsze półroczne sprawozdanie z działalności Grupy Kapitałowej PCF Group S.A. i spółki PCF Group S.A. za okres 01.01.2024 – 30.06.2024 r. zostało sporządzone na podstawie § 70 ust. 1 pkt 4, 6, 7 oraz § 71 ust.

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PCF Group

Terminy publikacji raportów okresowych: PCF Group S.A. 2026

Results: What's Next - Focus on Cash Flow

Raport bieżący nr 11/2021Ujawnienie opóźnionej informacji poufnej o zawarciu przez PCF Group S.A. listu intencyjnego dotyczącego przejęcia zespołu deweloperskiego Phosphor Games, LLC

Consolidated Quarterly Report: Q1 2023

Information on the State of Application of Best Practices 2021

Raport Bieżący Nr 7/2021: Wyznaczenie Ostatniego Dnia Notowania Praw do Akcji Serii B

Prezentacja Wyników Finansowych Q2 2022

Review Report of the Condensed Interim Consolidated Financial Statement: 2024

Independent Auditor's Report on the Consolidated Financial Statements: 2020

Półroczne sprawozdanie Zarządu z działalności Grupy Kapitałowej PCF Group S.A.

Raport Bieżący Nr 18/2025: Podjęcie Decyzji o Redukcji Zespołu Deweloperskiego Projektu Bifrost

Półroczne sprawozdanie Zarządu z działalności Grupy Kapitałowej PCF Group S.A.: 1 stycznia 2024 – 30 czerwca 2024

PCF Group

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