Slide 1: 22nd November, 2021
Gi GAMES 22ndNovember, 2021
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for
Slide 3: CI Games at a glance
20 Years of developing 3IPs 16M+ Copies sold AA+/AAA FPS & RPG Games 5 Locations – 150+ Headcount 14 Years avg. experience Poland, Spain, from management team UK, US, Romania 3
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS OUTSTANDING FINANCIAL PERFORMANCE ▪ Record 9M financial performance generated mainly by our own IP franchises. Net revenue of PLN 82m in the first 9 months of 2021 ▪ Strong profitability: EBITDA margin of 60% and net income margin of 33% for the first 9 months of 2021 ▪ Future finan
Slide 5: Globally Recognized Developer & Publisher of High Quality Video Games
GLOBALLY RECOGNIZED DEVELOPER & PUBLISHER OF HIGH QUALITY VIDEO GAMES FPS & RPG EXPERTISE ▪ Top rated AA+/AAA game developer and publisher ▪ World renowned FPS & RPG game studio, listed on the WSE main market ▪ Self publishes original IPs on all major platforms (Steam, PlayStation, Xbox and Nintendo
Slide 6: Q3 2021 Highlights
Q3 2021 HIGHLIGHTS STRONG FINANCIAL PERFORMANCE ▪ Our games portfolio delivered record results in 3Q 2021: EBITDA margin at 59.1% and net profit of 41.8% ▪ Net revenue of PLN 32.7m in Q3 2021 reflected substantial contributions from our existing games franchise, Sniper Ghost Warrior, together with rev
Slide 7: Q3 2021 Highlights
Q3 2021 HIGHLIGHTS CONTINUED DEVELOPMENT OF EXISTING IPs ▪ Lords of the Fallen 2 is currently in full production, aiming to be content complete in April 2022. The marketing campaign is planned to commence in Q1/Q2 2022 ▪ Following the success of Sniper Ghost Warrior Contracts 2, our Warsaw developme
Slide 8: Portfolio Update
Gi GAMES PORTFOLIO UPDATE
Slide 9: Back Catalogue Performance
BACK CATALOGUE PERFORMANCE 2021 releases accounted for 73% of 9M 2021 net revenue, while back catalogue continued to perform solidly Net Revenue 9M 2021 Other 2% LotF 2% Röki 2% SGW3 6% SGWC2 66% SGWC 16% Eldest Souls 3% Tails of Iron 4% 9
Slide 10: Release Schedule
RELEASE SCHEDULE SURVIVE PROJECT Lords of the Fallen 2 Next installment SGW franchise Third Owned IP 2023 2023 By the end of 2024 10
Slide 11: Evergreen Tactical FPS Franchise
Evergreen Tactical FPS Franchise ▪ Self published by CI Games, the SGW franchise now boasts 5 entries and has sold 13M+ units worldwide ▪ It is now the best-selling first person sniping franchise of all time ▪ All four previous installments released before 2021 are fully depreciated, including Sniper
Slide 12: Soulslike Dark Fantasy Action-RPG
Soulslike Dark Fantasy Action-RPG ▪ The full featured sequel to Lords of the Fallen, which was released in 2014, selling over 3 million copies, and played by 10 million players. ▪ Developed by CI Games’ internal studio, Hexworks ▪ Game in full production, and working towards being content complete i
Slide 13: Third Owned IP: Survive
THIRD OWNED IP: SURVIVE WHY SURVIVAL GENRE? ▪ Highly popular genre with broad global appeal. Low-mid risk with high potential reward ▪ Natural expansion of the portfolio, clear audience cross over with SGW and LotF franchises EXTERNAL STUDIO WORKING IN COOPERATION WITH CI GAMES’ KEY TALENT ▪ CI Game
Slide 14: Games
GAMES
Slide 15: United Label
UNITED LABEL Ambitious, Analytical, Quality-Driven 91% 84% ▪ Eldest Souls, a pixel-art boss-rush game released in July 2021, broke even in 2 weeks thanks to high-critical acclaim and a successful influencer-led marketing campaign ▪ United Label’s third title, Tails of Iron, a stunning action-RPG 78%
Slide 16: Team
GAMES TEAM
Slide 17: Seasoned Management Team
SEASONED MANAGEMENT TEAM Marek Tymiński Darren Newnham Saul Gascon Tobias Heussner Cezar Virtosu Kenton Fletcher Founder & CEO CEO, United Label Executive Producer (LOTF) Executive Producer (SGW) Creative Director (LOTF) Creative Director (SGW) Sam Sadeghi Ryan Hill Rhys Twelves Monika Rumianek Kata
Slide 18: An Internationally Distributed Team
AN INTERNATIONALLY DISTRIBUTED TEAM UNITED KINGDOM Key management operates from multiple geographic locations resulting in Sam Sadeghi, VP Global Sales Darren Newnham, CEO United Label further internationalization of the company Ryan Hill, Marketing Director Rhys Twelves, Technical Director, SGW & L
Slide 19: International Development Structure
INTERNATIONAL DEVELOPMENT STRUCTURE Attracting international development talent SURVIVE PROJECT Hexworks Warsaw Studio CI Games & BatFields Internal team size: 62 people Internal team size: 47 people External Team & CI Key Talent ∑© ∑ 34 Spain 38 Poland U.K. U.K. 11 Romania 3 U.K Spain Spain 6 U.K.
Slide 20: Sales & Marketing Team
SALES & MARKETING TEAM Building a division with a global reach SALES MARKETING Team Size Team Size 4 People 8 People 1 U.K. 5 U.K. 1 U.S. 3 Poland 2 Poland As of September 30, 2021. 20
Slide 21: Headcount by Function
HEADCOUNT BY FUNCTION 12 19 Sales & Marketing Finance & Admin Development LOFT & SGW* 125 As of September 30, 2021. * Includes team of 16 dedicated to Quality Assurance, centralized for all development projects. 21
Slide 22: Q3 2021 Financial Report
Gi GAMES Q3 2021 FINANCIAL REPORT
Slide 23: Q3 2021 Financial Highlights
Q3 2021 FINANCIAL HIGHLIGHTS Net Revenue EBITDA Net Profit PLN 32.7m PLN 19.3m PLN 13.6m EBITDA Margin Net Profit Margin 59.1% 41.8% Cash Position EPS PLN 42.2m PLN 0.07 23
Slide 24: 9M 2021 Financial Highlights
9M 2021 FINANCIAL HIGHLIGHTS Net Revenue EBITDA Net Profit PLN 81.9m PLN 48.9m PLN 27.2m EBITDA Margin Net Profit Margin 59.7% 33.2% Cash Position EPS PLN 42.2m PLN 0.15 24
Slide 25: Income Statement
INCOME STATEMENT PLNm KEY HIGHLIGHTS Q3 2021 Q2 2021 ▪ Q3 2021 net revenue totalled PLN 32.7m, with 69% Net revenue from sales 32.7 39.7 generated by sales of SGWC 2 Operating profit 14.0 14.8 ▪ The selling costs in Q3 2021 amounted to PLN 4.2m and declined by PLN 3.4m compared to Q2 2021, as the EBI
Slide 26: Balance Sheet & Cash Flow
BALANCE SHEET & CASH FLOW PLNm KEY HIGHLIGHTS Balance Sheet 30 Sep 2021 30 Jun 2021 ▪ Intangible assets amounted to PLN 72.3m, of which 69% was related to development projects currently Cash and cash equivalents 42.2 20.2 in progress - LotF 2 and the next installment of the SGW franchise Total asset
Slide 27: Financial Performance
FINANCIAL PERFORMANCE Historicals and FY 2021-2023 Analysts’ Estimates* Summary Financials 2018 2019 2020 2021E* 2022E* 2023E* Revenue & EBITDA (PLNm) (PLNm) Net Revenue 22.0 47.5 46.0 101.5 55.6 225.3 Gross Profit 4.7 18.5 19.3 54.9 26.1 120.4 EBITDA 4.4 20.5 27.8 62.0 33.5 109.3 Net Income (22.7) (
Slide 28: Q4 Roadmap
Q4 ROADMAP ▪ Further promotions on SGW Contracts 2 and back catalogue in Q4 to drive the sales and global awareness of our brands ▪ Further promotions on United Label catalogue in Q4 to drive the sales and further establish the new brands NEXT STEPS FURTHER AHEAD ▪ Edison Group and Redeye AB to cont
Slide 29: Thank you
Gi GAMES Thank you