11 bit studios to launch new game in August, but shares drop 8%

11 bit studios will launch a new game in August, and another one by the end of the year. In the announcement presented, the company announced that the new title will be revealed on August 12, and several premieres are planned for 2023.

“In August we will be able to show one of our titles (…). It will be the first moment of the official announcement of the game” – said the company’s president Przemysław Marszał. He added that this year the company may announce at least one new title. When asked about the premiere dates of subsequent games, the CEO replied that next premieres should take place around 2023.

It is worth noting that during the conference, it was also announced about the transition to the Unreal Engine and the suspension of work on its own engine. The studio presented several shots developed in the new environment. A teaser of the mobile “Frostpunk”, which is to hit players this year, was also shown.

The company confirmed that it does not intend to pay dividends for the time being. According to the management board, 11bit is still a growth company that needs cash and can provide investors with more value through development rather than cash withdrawal.

Investors did not seem to like the presentation very much. Although the company’s shares rose before noon, its quotations in the early afternoon were already 8.5 percent below Wednesday’s closing.

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