Big Cheese Studio S.A., a video game producer and publisher based in Lodz and listed on the Warsaw Stock Exchange, generated nearly 5.5 million PLN in net profit in the first three quarters of this year. This is more than a 140% increase compared to the same period last year, when the company’s net profit was 2.24 million PLN. From January to September, the company achieved nearly 9 million PLN in net revenue, compared to approximately 8 million PLN the previous year. In the reported period, EBITDA was over 6 million PLN. As of September 30, Big Cheese Studio had just under 7 million PLN in cash, ensuring the company’s financial stability.
The financial results in the reported period were mostly driven by the sales of the games Cooking Simulator and Cooking Simulator VR.
“The results achieved after three quarters are in line with expectations. We are pleased with the year-on-year increase in net profit, which has cumulatively amounted to almost 5.5 million PLN, a growth of over 140% compared to the result achieved after three quarters in 2023. This is a result of the consistent work of the entire team and the ongoing success of our games: Cooking Simulator and Cooking Simulator VR. Our strategy is delivering results, but we are not finished, as we’ll soon announce new directions for the company’s development, which – hopefully – will significantly strengthen our position in the video game market”, said Lukasz Debski, CEO of Big Cheese Studio S.A.
Sales of the company’s two key titles, Cooking Simulator and Cooking Simulator VR, had the most significant impact on BCS’s results. In the first three quarters of 2024, sales of Cooking Simulator generated 4.2 million PLN in net revenue for the company, a growth of over 28% year-on-year. Meanwhile, the VR version of the game generated over 3.1 million PLN. Big Cheese Studio’s productions are sold through platforms such as Steam, PlayStation Network, Microsoft Store, and Nintendo E-shop, ensuring a global reach.
In August 2024, Silk Road Games S.A. acquired 41.44% of the company’s shares, and together with Kap In Sp. z o.o., they control a total of 46.57% of the shares. Silk Road Games specializes in game distribution in the licensed Chinese market, which could open Big Cheese Studio up to even more potential in Asia.
After Lukasz Debski reassumed the role of CEO in October, the company announced an upcoming strategy update focusing on further international expansion and strengthening its position in Asia.
“Together with Lukasz Debski, we want to continue the company’s development based on our experiences. we plan to develop current and introduce new, innovative productions to the market, which we hope will further consolidate our position in the industry. I am convinced that there are still many exciting challenges and opportunities ahead,” added Lukasz Robert Wlodarczyk, board member of Big Cheese Studio S.A.
BCS is currently working on a new strategy to be announced soon. Major pillars of the strategy include continued expansion in the international gaming market and strengthening its presence in Asian markets.
Source: https://ceo.com.pl/big-cheese-studio-z-ponad-140-wzrostem-zysku-netto-po-trzech-kwartalach-2024-r-45005
