Ci Games S.a. · GPW:CIG
Ci Games — Q3 2022 Earnings Presentation
29 slides from Ci Games's earnings presentation, Nov 23, 2022
Slide 1: Q3 2022 Results
Q3 2022 Results 23rd November 2022
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except fo
Slide 3: Seasoned Management Team
SEASONED MANAGEMENT TEAM Marek Tymiński David Broderick Kirsty Moore Darren Newnham Founder & CEO CFO CEO, United Label HR Director Saul Gascon Aitor Rosa Ryan Hill Jon Tibble Executive Producer (Hexworks) Executive Producer (Underdog) Marketing Director VP, Global Sales 3
Slide 4: Platform for Growth
PLATFORM FOR GROWTH + Years of developing IPs Copies sold AAA/AA FPS & RPG (+ subscriptions players) Games Main Locations – Headcount Years avg. experience from across Europe & management team and directors America 4
Slide 5: Investment Highlights to Date
INVESTMENT HIGHLIGHTS TO DATE ESTABLISHED GLOBAL AAA/AA GAME DEVELOPER & PUBLISHER WITH POPULAR IP FRANCHISES ▪ World renowned FPS & RPG game studio, listed on the WSE main market o Self publishes original IPs on all major platforms (Steam, PlayStation, Xbox and Nintendo) ▪ Two major evergreen franc
Slide 6: Investment Highlights to Date continued
INVESTMENT HIGHLIGHTS TO DATE continued EXPERIENCED GLOBAL TEAM WITH DISTRIBUTED DEVELOPMENT & MARKETING ▪ Global footprint with 5 locations and a team of 160+ highly qualified, best-in-class gaming professionals operating fully remotely o International development team of 132 led by seasoned manage
Slide 7: Strategic Pillars & Timeline
STRATEGIC PILLARS & TIMELINE 2023 2024 2025 2026 2027 Capitalising on recognition and success within Action-RPG, PILLAR 1 Premium post launch content driven by TLOTF, a new title built around more ambitious Premium post launch content gameplay options for wider audience appeal Building on the IPs su
Slide 8: Q3 2022 Financial Report
ci GAMES Q3 2022 FINANCIAL REPORT
Slide 9: 9M 2022 Financial Highlights
9M 2022 FINANCIAL HIGHLIGHTS Net Revenue EBITDA Net Profit PLN 41.3m PLN 12.2m PLN 9.5m EBITDA Margin Net Profit Margin 29.6% 23.0% Net Cash Position EPS PLN 6.8m 0.5 PLN 9
Slide 10: 9M 2022 Adjusted Financial Highlights
9M 2022 ADJUSTED FINANCIAL HIGHLIGHTS* Net Revenue Adj. EBITDA Adj. Net Profit PLN 41.3m PLN 20.6m PLN 17.9m Adj. EBITDA Margin Adj. Net Profit Margin 50.0% 43.5% Cash Position Adj. EPS PLN 6.8m 0.10 PLN *Adjusted by PLN 8.4m for advance Marketing of LotF and dual listing costs 10
Slide 11: Q3 Income Statement
Q3 INCOME STATEMENT PLNm KEY HIGHLIGHTS • Q3 2022 net revenue totalled PLN 10.8m, with 51% Q3 ’22 Adj.* Adj. Q3 22 Q2 ’22 generated by sales of SGWC 2. New releases from United Label portfolio accounted for 16% of consolidated sales. Net revenue from sales 10.8 10.8 17.6 Operating profit/(loss) (4.7
Slide 12: Balance Sheet & Cash Flow
BALANCE SHEET & CASH FLOW PLNm KEY HIGHLIGHTS ▪ Total assets increased by 11% year to date due Balance Sheet 30 Sep 2022 31 Dec 2021 ongoing investment in game development Cash and cash equivalents 11.1 37.8 ▪ Intangible assets amounted to PLN 131.7m, (net Total assets 169.2 152.1 increase by PLN 50
Slide 13: Net Revenue 9M 2022
SGWC 2 = SGWC ™ Other SGW3 Tails of Iron Eldest Soul Roki Net Revenue 9M 2022 9% 9% 54% Ny ci GAMES
Slide 14: Appendices
ci GAMES Appendices
Slide 15: 1. Strategic Roadmap
ci GAMES 1. STRATEGIC ROADMAP
Slide 16: Action-RPG Has Huge Potential
ACTION-RPG HAS HUGE POTENTIAL PILLAR 1 EXPONENTIALLY GROWING GENRE ▪ Action RPG genre is a huge market with big hitters achieving 10+ million sales within first year of release ▪ Elden Ring is now one of the top 10 best selling games in US history* achieving 16.6 million sales (Feb 22 to June 22) •
Slide 17: Coming 2023: The Lords of the Fallen
COMING 2023: THE LORDS OF THE FALLEN PILLAR 1 SOULSLIKE DARK FANTASY ACTION-RPG ▪ ▪ Strong appetite for next big game in Action RPG In 2023 The Lords of The Fallen releases TOP 40 1.1K Global Wishlist** Press Articles* o Strong market recognition of Lords of the Fallen (2014) in the Fantasy RPG genr
Slide 18: Our Longest Running Evergreen
PARTNER OUR LONGEST RUNNING EVERGREEN PILLAR 2 & STUDIO CONTINUING TO BROADEN APPEAL AND RAISE OUR GAME ▪ SGW franchise is the best selling first person sniper franchise o With 5 entries since 2011 and selling 13m+ worldwide units o Continues to attract a strong, loyal and ever-growing fan base ▪ Sn
Slide 19: New IP – Project Survive
NEW IP – PROJECT SURVIVE PILLAR 3 & CAPITALISING ON A GROWING GENRE ▪ In the last decade, the Survival renaissance has been building in strength o 48% player growth* in last 18mths across key open world survival craft game set o Evergreen titles reaching 20+m player bases* – the lead achieving 50+m
Slide 20: Third Party IP Publishing
THIRD PARTY IP PUBLISHING PILLAR 4 BRINGING NEW IP INTO OUR COMMERCIAL PORTFOLIO ▪ Founded in 2018 as a third party publishing label and publicly listed on WSE Part ownership held by CI Games 91 74 o ▪ Leveraging the CI Games infrastructure to bring quality indie titles to larger audiences ▪ A reput
Slide 21: New IP – Project Scorpio
NEW IP – PROJECT SCORPIO PILLAR 5 TEAM OPTIMISED TO DELIVER NEW PREMIUM IP : CO-OP TACTICAL SHOOTER ▪ The development team at Underdog Studio has been strengthened over the last few months o Even more key talent and expertise to create best-in-class shooters • The new IP will be a premium multiplaye
Slide 22: New Pillar Project Potential
NEW PILLAR PROJECT POTENTIAL PILLAR 6 IP DIVERSIFICATION WITH OUR EXPERTISE • Many strong IP brands fit across different genres within gaming – or can cross over into gaming • Potential to combine CI Games reputation in key genres with a strong external IP o Exploring options to partner with strong
Slide 23: New Pillar Project Expand
NEW PILLAR PROJECT EXPAND PILLAR 7 CAPITALISING FURTHER OUR STRONG FRANCHISES ▪ Licensing our own strong IPs to external partners o Other gaming formats including Mobile, VR o Transmedia including Film, TV o Other entertainment or products e.g. Table Top Gaming, Books 23
Slide 24: 2. Team Structure
ci GAMES 2. TEAM STRUCTURE
Slide 25: An Internationally Distributed Team
UK & Ireland David Broderick, CFO Jon Tibble, VP Global Sales AN INTERNATIONALLY DISTRIBUTED TEAM Darren Newnham, CEO United Label Kirsty Moore, HR Director Key management operates from multiple geographic locations resulting Ryan Hill, Marketing Director Rhys Twelves, Technical Director, SGW & LotF
Slide 26: International Development Structure
INTERNATIONAL DEVELOPMENT STRUCTURE Attracting international development talent SURVIVE PROJECT Hexworks Underdog Studio CI Games & BatFields United Label Internal team size: 76 people Internal team size: 42 people External Team & CI Key Talent Internal team size: 3 people 47 Spain 23 Poland U.K 2 U
Slide 27: Sales & Marketing Team
SALES & MARKETING TEAM Building a division with a global reach SALES MARKETING Team Size Team Size 6 People 6 People 1 U.K. 1 U.S. 5 U.K. 3 Poland 1 Poland 1 Portugal As of September 30, 2022 27
Slide 28: Headcount by Function
HEADCOUNT BY FUNCTION 19 Finance, Legal, HR & 12 Admin Sales & Marketing Development LOFT & SGW* 132 As of September 30, 2022. * Includes team of 11 dedicated to Quality Assurance, centralized for all development projects. 28
Slide 29: Thank You
Rea. : Se Rese Pears 2S 36 - “ hy GAMES “THANK YOU x