Ci Games S.a. · GPW:CIG
Ci Games — Q1 2024 Earnings Presentation
22 slides from Ci Games's earnings presentation, May 29, 2024
Slide 1: Q1 FY24 Results
Q1 FY24 RESULTS 29 MAY 2024 PRIVATE & CONFIDENTIAL
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 fo
Slide 3: Globally Recognised Developer & Publisher of High-Quality Video Games
GLOBALLY RECOGNISED DEVELOPER & PUBLISHER OF HIGH-QUALITY VIDEO GAMES RPG & FPS EXPERTISE • Top rated AA+/AAA developer & publisher on major platforms (Steam, PlayStation, Xbox & Nintendo) • Renowned RPG & FPS game studio, listed on WSE POPULAR IP FRANCHISES • Successful launch of Lords of the Falle
Slide 4: Experienced Global Team
GLOBALLY RECOGNISED DEVELOPER & PUBLISHER OF HIGH-QUALITY VIDEO GAMES EXPERIENCED GLOBAL TEAM • Highly experienced and globally distributed team of over 150 gaming professionals, led by seasoned Exec team • Exec team and Directors significantly incentivised through stock scheme with rare opportunity
Slide 5: Platform for Growth
PLATFORM FOR GROWTH 20+ 2 25M+ Years of developing & Evergreen IPs Copies sold publishing AA+/AAA FPS & RPG Games 100% 150+ 18 Fully Remote Global Headcount Years avg. experience Organisation from management team PRIVATE & CONFIDENTIAL
Slide 6: Seasoned Management Team
SEASONED MANAGEMENT TEAM Marek is the founder and CEO of CI Games and has been leading the company since its inception in 2002. Darren has over 28 years’ experience working within Previously Marek held board and executive positions in MAREK TYMINSKI electronic entertainment companies and launched hi
Slide 7: Employee Departments
EMPLOYEE DEPARTMENTS QA Sales Executive & Ops Finance 4% 8% 8% Production 5% 6% Animation Marketing 12% 3% 150+ Total employees 15% Design 18% Art 1% 20% Audio Code *As of 23/1/24 PRIVATE & CONFIDENTIAL
Slide 8: Key Company Milestones
KEY COMPANY MILESTONES Key turning point: AAA Focus ESTABLISHED (FULLY REMOTE) WARSAW STOCK FOUNDED EXCHANGE MAIN ESTABLISHED MARKET LISTING ESTABLISHED (FULLY REMOTE) 2002 2007 2010 2013 2014 2017 2018 2019 2020 2021 2023 NOW AN EMERGING LEADER IN AAA GAME DEVELOPMENT AND PUBLISHING • Company under
Slide 9: Hexworks studio and development approach
• Development studio behind Lords of the Fallen • Internal development team of 86 people • Currently developing Project III • Founded in 2020 SECURING GAMEPLAY OPTIMISING CONTENT PRODUCTION QUALITY THROUGH ITERATIONS • Core features developed within a Strike teams • Combination of internal and exter
Slide 10: Studio working model and Project Survive team
• Development studio behind Sniper Ghost Warrior • Major transition in 21/22 with new rebrand and full internal restructure focusing on global talent • Currently developing Project Survive ACHIEVING AN EPIC NARRATIVE KEEPING THE TEAM FOCUSED WITH WORKING REMOTELY • Full team engaged with world build
Slide 11: Strategic Pillars & Timeline
STRATEGIC PILLARS & TIMELINE Target Release: 2026. Capitalising on recognition and success within Action-RPG, driven by Lords of the Fallen, a new title built around more ambitious gameplay options for wider audience appeal. Strong potential for premium and free post launch content & expansion updat
Slide 12: Q1 Key Events
Q1 KEY EVENTS • Full repayment and closing of non-revolving working capital loan of PLN 20 million on 02.01.2024 r. and closing of multi-purpose loan limit of up to PLN 29 million on 31.01.2024. • On 18.01.2024, announced targeted round of redundancies, affecting approx 10% of employees across Group
Slide 13: Latest Key Events
LATEST KEY EVENTS • In April 2024, sales of “Sniper Ghost Warrior Contracts 2” exceeded 2 million units • On 10.04.2024, concluded with PKP BP S.A. a multi-purpose credit limit agreement for maximum amount of PLN 15,000,000, granted for period from 10.04.2024 to 09.04.2025. • On 24.04.2024, “Lords o
Slide 14: Lords of the Fallen in Numbers (EOY 23)
LORDS OF THE FALLEN IN NUMBERS (EOY 23) COMMERCIAL TOP 10 TOP 20 1.3m+ ~47% ~45% Best-selling games across Best-selling games across Copies Sold Deluxe Edition ($79.99) Of sales in North America Europe in Oct ‘23 US in Oct ‘23 MARKETING 214M 12.7K 2.9M 10 1.3B 14M Campaign Views Articles Generated W
Slide 15: Lords of the Fallen Post-Launch Development
LORDS OF THE FALLEN POST-LAUNCH DEVELOPMENT • Since launch, HEXWORKS has released over 30 major updates • Continues to work diligently with Epic, AMD, Intel, and NVidia • As of 1st Dec, only 0.012% of users are experiencing crashes • On 7th Nov, released post-launch free content roadmap to resoundin
Slide 16: PRIVATE & CONFIDENTIAL
PRIVATE & CONFIDENTIAL
Slide 17: Project III
PROJECT III • An epic dark-fantasy action-RPG, capitalising on the global recognition and success achieved by Lords of the Fallen, built on UE5 for PC, PS5 and Xbox Series X/S, targeting Q2 2026 release • Lords of the Fallen (2023) sold approx 1.3 million in first quarter of release. By addressing a
Slide 18: Project
PROJECT PRIVATE & CONFIDENTIAL
Slide 19: Project Survive
PROJECT SURVIVE CAPITALISING ON A GROWING GENRE • A thrilling, sci-fi horror survival game, built on Unreal Engine 5 for PC, PS5 and Xbox Series X|S. • Elevates the extremely successful ‘survival’ formula with cutting-edge visuals and a deep systemic gameplay loop • Built around a genre-first commer
Slide 20: 1Q Income Statement
1Q INCOME STATEMENT PLNm 1Q’ 2024 1Q’ 2023 Net revenue from sales 21.8 9.8 • 1Q 2024 net revenue totalled PLN 21.8m, with PLN COGS (14.8) (3.3) 59% of sales generated by Lords of the Fallen, and the remainder from back catalogue. Gross profit 7.0 6.5 • COGS included cost of amortization of Lords, SG
Slide 21: Balance Sheet & Cashflow
BALANCE SHEET & CASHFLOW • As of 31.04.2024 total assets decreased by 12% compared to year-end balance, which was mainly PLNm attributable to decline in trade receivables and cash, which was used to repay bank loans. Balance Sheet 31-March-24 31-Dec-23 Cash and cash equivalents 15.2 30.2 • Intangibl
Slide 22: Thank You
THANK YOU PRIVATE & CONFIDENTIAL