In the first half of this year, Big Cheese Studio S.A. – a video game producer and publisher listed on the Warsaw Stock Exchange – earned a net profit of nearly 4.8 million PLN (approximately 1 million USD). This is almost a 100 percent increase compared to the same period last year. From January to June, the company recorded over 6.7 million PLN in net sales revenue, compared to just under 5.7 million PLN the previous year. In the reported period, EBITDA amounted to over 5 million PLN. As of June 30, Big Cheese Studio S.A. had over 12.2 million PLN in cash resources. The financial results for the first half of the year were significantly impacted by the sales of the game Cooking Simulator and its add-ons.
Big Cheese Studio S.A. summed up its financial results for the first half of 2024. During the reported period, the company’s net income amounted to 6.7 million PLN, an increase of almost 19 percent compared to the same period last year. In the first six months, the company achieved a net profit of nearly 4.8 million PLN, in comparison to nearly 2.5 million PLN from January to June the preceding year.
“We are pleased that the company’s results improved in 2024 compared to 2023, even after taking into account long-term contracts, such as Game Pass. Big Cheese Studio S.A. confirms the strong fundamentals of its created IP, but we are aware that we have much work ahead of us to strengthen the company’s position and to achieve further strategic objectives,” commented Łukasz Robert Włodarczyk, a member of the board of Big Cheese Studio S.A.
The company’s current financial results are due to the sales of the game Cooking Simulator and its add-ons. Revenue from the sale of the title (excluding the VR version) from January to June amounted to over 3.3 million PLN, compared to 2.1 million PLN in 2023. Meanwhile, the sale of Cooking Simulator VR in the first two quarters of 2024 brought the company nearly 2.4 million PLN. On June 13, 2024, BCS released the latest addition to the game – Sushi, which allows players to take on a new culinary challenge and run their own sushi bar in Japan. The add-on is priced at 9.99 USD.
Cooking Simulator is the most important title for Big Cheese Studio S.A. Since its premiere on Steam in 2019, the game has been developed with paid and free add-ons and live ops. The game is also available in console versions (on Nintendo Switch, PS4, Xbox One and the Xbox Game Pass service) and in a VR version. The title set in the world of virtual reality quickly earned the title of the best VR game of 2021.
“The priority of Big Cheese Studio S.A. is the development and expansion of the current portfolio of titles, especially Cooking Simulator, which is key in the context of future financial results. One of the main pillars of the company’s strategy is development in the international game-dev market,” added Łukasz Robert Włodarczyk, a member of the board of Big Cheese Studio S.A.
In August, 41.44 percent of shares in Big Cheese Studio S.A. were acquired by Silk Road Games S.A., one of the few European game distributors in the licensed Chinese market. In an agreement with Kap In, it holds a total of 46.57 percent of BCS shares. In September, the Extraordinary General Meeting of Big Cheese Studio S.A. dismissed the existing board members and appointed new ones: Grzegorz Dymek, Michał Pietrzkiewicz, Piotr Lembas, Paweł Świdziński, and Łukasz Andrzejczak.
Source: https://managerplus.pl/big-cheese-studio-s-a-z-prawie-96-proc-wzrostem-zysku-netto-r-r-25885
