Current report no. 3/2019
Confidential information
March 20, 2019
“Information on the state of forecast implementation”
The Management Board of CI Games S.A. with its registered office in Warsaw (“Company”), with regard to current report no 27/2018 of November 26, 2018 containing forecast financial flows in the CI Games Capital Group in the period from Q4 2018 to Q3 2019, after having assessed the course of implementation of the said forecasts, presents information on its implementation in the Q4 2018:
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a) Revenues from digital distribution amounted to PLN thousand 3,903 as compared with the forecast amount of PLN thousand 3,260 which constitutes an increase as compared with the forecast by PLN thousand 643;
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b) Operating costs:
Sales costs amounted to PLN thousand 1,309 as compared with the forecast amounting to PLN thousand 1,450 which constitutes a decrease as compared with the forecast by PLN thousand 141;
b. Overhead costs amounted to PLN thousand 910 as compared with the forecast amounting to PLN thousand 1,360 which constitutes a decrease as compared with the forecast by PLN thousand 450;
c) Investment activities financed by own funds amounted to PLN thousand 1,897 as compared with the forecast amounting to PLN thousand 1,810 which constitutes an increase as compared with the forecast by PLN thousand 87;
d) Investment activities financed by way of credit amounted to PLN thousand 6,270 as compared with the forecast amounting to PLN thousand 6,870 which constitutes a decrease as compared with the forecast by PLN thousand 600 ;
e) The total available funds understood as own cash and funds within bank credit facilities as at December 31, 2018 amounted to PLN thousand 31,400 as compared with the forecast amounting to PLN thousand 30,852 and were composed of the following items:
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own cash PLN thousand 12,612 as compared with the forecast amounting to PLN thousand 10,046 which constitutes an increase as compared with the forecast by PLN thousand 2,566;
b. funds within the overdraft facility PLN thousand 1,532 as compared with the forecast amounting to PLN thousand 4,150 which constitutes a decrease as compared with the forecast by PLN thousand 2,618;
b. funds within the revolving facility: PLN thousand 17,256 as compared with the forecast amount of PLN thousand 16,656 which constitutes an increase as compared with the forecast by PLN thousand 600;
Detailed information on the implementation of the forecast constitutes an attachment to this current report.
The management was conservative in the forecast of the costs on the basis of historic data, and thanks to effective expenditures control, the overheads and sales costs referred to in the item “Operating costs” found above, were lower than their forecast level. The management of the Company will carry out a quarterly assessment of the level of forecast implementation possibility, and should it identify deviations from the forecast results, it will make a relevant update of the forecast for the Q1-Q3 2019.
Legal basis: art. 17 (1) as read with 7 (1) of the Regulation of the European Parliament and of the Council (EU) no. 596/2014 of April 16, 2014, concerning market abuse regulation (MAR).
Marek Tymiński – President of the Management Board
