PlayWay with PLN 15.77 mln net profit in 2017

WSE-listed game developer PlayWay recorded PLN 15.77 million net profit in 2017 compared with PLN 5.65 million profit a year earlier, the company said in a market filing. Operating profit amounted to PLN 21.47 million compared to PLN 6.05 million profit a year earlier. EBITDA amounted to PLN 21.69 million up from PLN 6.15 million in 2016. At the same time revenues stood at PLN 43.82 million compared to PLN 16.1 million a year earlier. “The company focused in 2017 on investing in new computer games in order to increase the value of sales revenues and its profitability. The increase in the value of revenues is mainly due to the higher number of new titles in relation to 2016. The increase in net profit is primarily due to a very dynamic increase in sales as a result of the successful releases of new titles, with a stable structure of fixed costs and low production costs of new titles,” the company wrote in its report.