Vivid Games published the annual report for 2021. Real Boxing generated 63% of the total revenues.
28.04.2022
Vivid Games published the annual report for 2021.
Real Boxing generated 63% of the total revenues.
Sales for the entire 2021 are over PLN 24 million. The net result, due to the significant write-offs announced by the Company in February, amounts to PLN -14.86 million. Due to the write-offs, amortization, directly burdening the result, will decrease by PLN 2 million in 2022.
Currently, the company focuses on further development of the portfolio. The key projects in terms of commercial potential and generated revenues are Real Boxing 2 and Eroblast. The company is also investing in another project - in March it was announced that the leitmotif of the new title, referring to the boxing series, will be the world of karate fights.
“The 2021 was very important to us and allowed to introduce a lot of significant changes to the organization. We streamlined many internal processes, updated our strategy and reorganized the internal structure a bit. We can already see the positive impact of the above activities, both on our daily work and generated revenue. In addition to Real Boxing 2, Eroblast has an increasingly stronger share in them."- emphasizes Jarosław Wojczakowski, President of the Management Board of the Company." We are aware of how much the write-offs weighed on our result for 2021. However, we believe that they were necessary. We do not want the projects, the potential of which has already been drained, to still measurably affect the Company's results. =" - adds the President of the Management Board of the Company.
"Real Boxing 2 generated revenues of over PLN 15 million in 2021. However, we are implementing a plan that increases our efficiency every month. In the coming days, we will introduce players to a new internal store. From the point of view of the possibility of monetization development, it is a key step. We expect that it may have a significant impact on the revenues from the title in the following periods. At the same time, we are developing a committed community of players, thanks to the promotion in popular social channels, such as TikTok or Snapchat." - emphasizes Bartosz Biniecki, the product owner of the Real Boxing brand.
In April, the Company presented preliminary results for the first quarter. Sales for this period increased by nearly 50% compared to the first quarter of 2021 and amounts to PLN 7.6 million, and EBITDA is at the level of PLN 1 million.