The popularity of Medieval Dynasty is driving the financial results of Render Cube. In the first half of this year, the company earned over 8.3 million PLN in revenue, marking an increase of roughly 76 percent in comparison to the result achieved in the same period last year. From January to June, the net profit amounted to almost 3 million PLN, a surge of 150 percent year on year. Sales of the Medieval Dynasty game, including the cooperative mode on STEAM, are largely responsible for this growth. From June 27, the function of shared game play was also made available to console players. Sales results of Co-Op on PlayStation5, Xbox Series X/S, and PC platforms, where the update was previously not available, will be primarily visible in the following quarters. Render Cube’s financial situation is stable. As of June 30, the company had 27.5 million PLN in cash reserves, with no interest-bearing obligations.
“The first half of the year was mostly spent on preparing the cooperative mode of our most important production – Medieval Dynasty – for consoles. We released the function of shared game play for console players at the end of June, so the reported period does not show very well how the update was received by PlayStation5, Xbox Series X/S, and PC platform users where it was not previously available. However, we are even more pleased to report a nearly 150 percent increase in net profit year on year and about a 76 percent increase in revenue. The results achieved are, in our view, an effect of numerous promotional campaigns that positioned us among the key global brands. Few people know that in cross-promotions we collaborated, among others, with Pathfinder: Wrath of the Righteous, RimWorld, Foundation, and Empyrion – Galactic Survival – titles that are hits in their categories,” says Damian Szymański, CEO of Render Cube.
Since the beginning of the year, the company has been carrying out numerous activities to increase the positioning of the Medieval Dynasty brand, such as collaboration with Lenovo, sales – including a bundle with the game Empyrion – Galactic Survival – and Spring Sale. The company’s key IP is regularly promoted on the main page of Steam.
“Today, we are one of the most active Polish studios building a community through numerous collaborations, which in effect increases the sales of our flagship title. The July Summer Sale, Midweek Deal, or SimFest – we were present in these and many other campaigns on Steam. We see what great benefits such strong positioning of Medieval Dynasty brings. We have a wide-ranging strategy to attract new groups of players. We also plan to introduce additional content to Medieval Dynasty, part of which will be released later this year. Currently, we have gathered over 260,000 players in our group on Steam alone, and this number is still growing,” adds Damian Szymański.
By June, the sale of Medieval Dynasty exceeded 2 million copies. At that time, the number of players waiting to purchase the game was 1.49 million.
In June 2024, the Ordinary General Meeting of Shareholders of the Company passed a resolution on the payment of Render Cube’s first dividend in history. The shareholders received 6 million PLN from the net profit earned the previous year (5.6 PLN per share). The remaining amount of profit earned, nearly 1.6 million PLN, was allocated to reserve capital.
“I am pleased that we have been able to join the small group of gaming companies that pay dividends this year. We want to continue this practice. We have a lot of work ahead of us in developing Medieval Dynasty further and introducing a completely new title. While we are not revealing too many details yet, our team is heavily involved in working on a new IP and main development direction. Medieval Dynasty is doing very well, with about 5,000 people playing the title concurrently at peak times,” adds Damian Szymański.
According to the Steam store page based on 3920 reviews taken from January 1, 2024, to July 4, 2024, the game received over 88 percent positive reviews, while the overall reception is over 90 percent.
The Medieval Dynasty universe also hosts the VR title – Medieval Dynasty New Settlement, created by Spectral Games. The project will be systematically enriched with new elements. The publishers of Medieval Dynasty New Settlement are Toplitz Productions, Render Cube, and Meta. In the future, Render Cube plans to further develop the IP with additional products set within this universe.
As of June 30, Render Cube had 27.5 million PLN in cash reserves, with no interest-bearing obligations.
Source: https://managerplus.pl/render-cube-z-mocnymi-wynikami-w-i-polroczu-br-spolka-zanotowala-r-r-prawie-150-proc-wzrost-zysku-netto-i-76-proc-wzrost-przychodow-61281
