Vivid Games presented the results for August. The company expects to increase its income in the coming months.
Vivid Games presented the results for August.
The company expects to increase its income in the coming months.
Vivid Games has already generated nearly PLN 24 million in revenue this year. At the end of August, EBITDA for 2022 was PLN 2.2 million, and the accounts were PLN 2.5 million. In September, the Company's account was credited with the first payment for the sale of Bidlogic, in the amount of over PLN 3.5 million. The estimated net result of the transaction is as much as PLN 4.2 million, which will significantly affect the Company's results for the third quarter and the entire year. The Management Board is also carrying out activities that should significantly increase the portfolio's profitability in the coming months.
“The sale of Bidlogic enables us to settle the bonds early. However, we do not want to stop on minimizing the obligations. Above all, we care about growth. We consistently strive to ensure that our key brands - Real Boxing 2 and Eroblast - achieve strategic revenue levels. The positive effects of the UA strategy are visible in the first September data. We expect that despite the global economic downturn, this trend will also continue in the last quarter "- explains Jarosław Wojczakowski, CEO of Vivid Games. "We are also significantly accelerating the development of Eroblast. We can see how much potential this title has. We resigned from our contract with an external developer in favor of the development of an internal team. This will ensure an increase in the pace of work and subsequent updates, and above all, the profitability of the title, by up to several dozen percent in the coming months. We are also starting to expand the Eroblast universe with re-skins that meet the expectations of players. The first tests have already started. We are waiting for the results and we will decide which ideas are worth developing” - adds the President.
The Real Boxing 2 team also has plans for further development. After a slightly weaker holiday for the entire industry, a rebound can be seen. “July and August were below our expectations in terms of the revenues and effectiveness of the AU campaign. In the last days of August, the situation began to return to its old tracks, and the first data from September indicate that this trend should continue” - emphasizes Bartosz Biniecki, product owner of Real Boxing. "Our plans for the next weeks include both, much-desired by players, live ops updates, and the launch of completely new UA campaigns, using refreshed visuals and videos, directed primarily to Facebook users. We are also recognizing completely new possibilities of using or enriching our brand”- adds Biniecki.