11bit Studios profits slump, as top-line revenues drop 23%

11bit Studios recorded PLN 28.69 million in standalone net profit in 2021 compared to PLN 37.36 million in profit a year earlier, the company said in the report.
The operating profit amounted to PLN 30.03 million against PLN 40.79 million profit a year earlier. The EBITDA result reached PLN 38.95 million in 2021 compared to PLN 51.86 million a year earlier.

Sales revenues reached PLN 70.12 million in 2021 compared to PLN 87.1 million a year earlier.

“Despite the unfavorable environment, we do not intend to change our plans for the next quarters, which are well defined and not only concern the premieres of the games we are currently preparing for. In August 2021, we showed the first promotional material for 'Frostpunk 2', one of the three custom games, in addition to 'Dolly' and 'Project 8', which we are currently working on. The fans' response to the announcement of the release of the title, which will not only be a simple continuation of the first game in this series, measured even by a high position on the Steam wishlist, exceeded our expectations. [...]

The management board also announced that this year "the payroll should increase by another 50-60 team members". Currently, the company employs over 200 people.

11 bit Studios is a producer of games for stationary and mobile platforms. The company moved from NewConnect to the WSE main market in 2015.

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