The publicly listed game developer and publisher ended the quarter with an operating profit of PLN 4.2 (130% increase YoY) and a net profit of PLN 3.3 million (134% increase YoY). In the previous period, the Group’s revenues increased by 87%, reaching PLN 10.5 million. The dynamic increase in revenues and profits was possible thanks to the profits from the commercialization of the Unsolved application, which grow every month, and 42% higher revenues from the sales of the games’ console versions.
The Group’s operating result, stripped of the influence of one-time items (write-downs on games recognized in the first half of 2020), increased by 60%, reaching PLN 4.2 million. Recurring EBITDA increased from PLN 4.1 million in the previous year to PLN 5.7 million after 3 months of 2021.
“The results achieved in the last quarter are not a one-time thing. Quite the contrary – we expect them to start a series of many successful quarters for Artifex Mundi. The sales and financial results confirm the business plan assumptions for the main segments of our operations. We expect the growing revenues from the commercialization of Unsolved to more than compensate for the lower profits from premium HOPA games. Our projects are carried out according to plan, and the Group’s financial standing rises every period, which places us in a comfortable spot,” says Przemysław Błaszczyk, President of the publicly listed company.
Unsolved is a mobile application that offers players the chance to play some of the HOPA games available in Artifex Mundi’s portfolio for a limited time (based on usable energy, which is slightly renewed every day and can be purchased in the application). The app, available on Android and iOS, offers access to 14 recognizable HOPA titles. Since the beginning of 2021, Artifex Mundi has been regularly acquiring players for Unsolved. The company spent PLN 1.5 million on advertising campaigns on Facebook in the previous month and PLN 4.4 million from the beginning of the year. In 2021, the company plans to upgrade the application by adding new features that will open up its monetization possibilities, such as ads, a gift pass, premium currency, and social options (meta-achievements), as well as to expand the range of advertising campaigns with new channels – Google, Unity Ads, and IronSource.
The premium game segment is based on the monetization of the games that have already been published (mostly HOPA). At the moment, the portfolio includes nearly 90 games, most of which are characterized by long tails.
