INTERIM REPORT
1st Half Year 2023
Six months ended 30 June 2023
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
2
Index
3
4
6
7
8
10
11
13
14
15
16
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
3
About
5th Planet Games is an international, publicly traded company founded in 2011 and focused on financing and publishing
video games entertainment.
We are a small, lean company that is backed by a highly driven executive team from Europe and the USA, each of whom
have decades of experience in video games and entertainment creation, publishing, and distribution.
5th Planet Games enters into strategic partnerships with global IP holders to create unique opportunities for game
content creation by our outstanding development partners worldwide and secures co-publishing status in games across
all platforms, mobile, console and PC.
With a strong and growing portfolio of titles and, since 2021, a partnership with Skybound Entertainment, 5th Planet
Games now has access to compelling, proven, world-famous IP including The Walking Dead and Invincible.
Due to a high-quality back catalogue of games and an exciting release schedule ahead, 5th Planet Games has seen a
significant improvement in financial results over the last 18 months with many more exciting opportunities ahead!
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
4
It is my pleasure to announce a profitable quarter once again; this profitability is testament
to many months of hard work, the financial turnaround that’s taking place and the positive
new direction of the company, and as such it’s a very pleasing result.
EBITDA before special items was a gain of DKK 9k in Q2 2023 against a loss of DKK 0.7m
in Q2 2022. The increase in EBITDA is driven by cost control and a solid revenue stream
across the catalogue; as usual this report contains a detailed breakdown of our audited
accounts, but to summarize some of the key metrics here in relation to Q2.
Revenue for Q2 2023 amounted to DKK 1.9 m, an 8% increase from DKK 1.8m in Q2 2022.
Gross profit for Q2 2023 amounted to DKK 1.9m, an 8% increase from DKK 1.8m in Q2 2022.
Costs for Q2 2023 decreased by DKK 0.6m compared to Q2 2022.
The story that underlies these financial headlines is perhaps even more compelling than
the headlines themselves. Due directly to our strict control of costs and the increasingly
robust contribution from a growing back catalogue of high-quality games, we are much
better able to deal with the challenges that are inherent to the business of publishing
games. The eagerly awaited release of WrestleQuest was moved out of H1 to allow for
further development time and was launched successfully on August 22nd; we now look
forward to seeing WrestleQuest contributing to an exciting H2 release schedule.
Another part of the story that sits alongside the financial results we are presenting here are
the announcements that we have made so far this year, these have included;
• The launch of Before Your Eyes on the Sony PlayStation VR2 in March.
• Escape Academy becoming available on Nintendo Switch later this year which we
announced in April.
• The strategic opportunity to potentially invest in Sagafilm which we announced in
June, and which is currently in due diligence.
• Our co-publishing agreement on Invincible presents Atom Eve.
• The collaboration with Other Ocean Interactive and Skybound on the eagerly awaited
The Walking Dead:Betrayal. The game has been getting rave reviews from test
audiences!
CEO letter: H1 2023
Mark Stanger - CEO
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
5
With increasingly solid financial foundations in place and with a release schedule that
includes WrestleQuest, Invincible presents Atom Eve and The Walk Dead:Betrayal I feel
incredibly positive about the remainder of 2023 and look forward to building on the solid
start to the year that we are reporting today.
Our financial guidance for the full year remains unchanged from that published in March
in the 2022 Annual Report i.e., revenue in the range of DKK 15m – 25m and EBITDA in the
range of DKK 7 - 9m.
I feel confident that this is only the beginning of a significant move in the right direction,
and I very much believe in our ability to continue to grow profits based on a proven back
catalogue and the incredible quality of our upcoming release schedule.
Thanks for the continued support,
Yours sincerely,
Mark Stanger, CEO
Autumn 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
WrestleQuest
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
6
Revenue for Q2 2023 amounted to DKK 1.9 m, an 8% increase from DKK
1.8m in Q2 2022.
Gross profit for Q2 2023 amounted to DKK 1.9m, an increase from DKK
1.8m in Q2 2022.
Costs for Q2 2023 decreased by DKK 0.6m compared to Q2 2022.
• Development expenses in Q2 2023 amounted to DKK 0.1m.
• Other expenses were in Q2 2023 DKK 1.8m, a decrease of DKK 0.7m
compared to Q2 2022.
EBITDA before special items was a gain DKK 9k in Q2 2023 against a loss
of DKK 0.7m in Q2 2022. The increase in EBITDA is mainly driven by cost
control and a solid revenue.
Financial expenses were a cost of DKK 0.2m covering a calculated change
in loss from derivative financials instruments of DKK 0.3m and a gain from
exchange rate adjustments.
The amount DKK 27.179m is the fair calculated value change of Tranche
4 from the investment agreement with Skybound Games Studios. For
further explanation please see note 4.
Loss before tax amounted to DKK 1.6m in Q2 2023 an increase from the
loss of DKK 42.3m in Q2 2022.
Cash flows from operating activities.
Cash flows from operating activities was negative with DKK 1.4m in Q2
2023 against a positive flow in Q2 2022.
Cash position as of 31 June 2023 amounted to DKK 32.2m against DKK
33.4m as of 30 June 2022.
The Group’s equity as of 30 June 2023 amounted DKK 24.7m.
Key figures and financial performance
DKK ‘000
Q2
2023
Q2
2022
H1
2023
H1
2022
FY
2022
Revenue 1 949 1 813 4 423 4 727 11 300
Gross Profit 1 890 1 775 4 306 4 634 11 143
Profit / loss before special items (EBITDA) 9 -656 17 -1 118 1 677
Operating profit/loss (EBIT) -1 300 -925 -2 091 -1 652 -736
Net Financials exclusive change in derivative instruments 52 1 010 -629 1 221 -179
Change in derivative financials instruments, fair value -308 -42 652 -2 114 -68 282 -32 793
Profit / loss for the year -1 556 -42 567 -4 834 -68 713 -33 708
Profit / loss exclusive fair value of derivative financials instruments -1 248 85 -2 720 -431 -915
Total assets 54 055 51 764 54 055 51 764 58 845
Capitalized development costs 973 14 089 973 14 089 17 278
Equity 24 691 -27 328 24 691 -27 328 28 886
Equity exclusive fair value derivative financials instruments 51 870 33 226 51 870 33 226 53 951
Outlook for 2023
Based on the results in H1 2023, the financial guidance for 2023 remains that same as
announced in the 2022 Annual Report: a revenue in the range of DKK 15m–25m and EBITDA
in the range of DKK 7–9m.
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
7
H1 2023 Game Releases
The BAFTA award-winning game was released for the first time for VR as part of the
highly publicized PlayStation VR2 launch line-up, and instantly became a must-have
game for the new PlayStation 5 VR platform.
BEFORE YOUR EYES
Developer:
GoodbyeWorld Games
Release Date:
March 10, 2023
Platforms:
PlayStation 5 (PlayStation VR2)
A colorful and fun co-op game from Japanese developer Toylogic, Glitch Busters :
Stuck On You released as a rare game that is perfect for families and friends to play
together online or offline with 1-4 players on the same system.
GLITCH BUSTERS: STUCK ON YOU
Developer:
Toylogic Inc.
Release Date:
May 23, 2023
Platforms:
PC, PlayStation 4, Nintendo Switch
The second DLC for the celebrated escape room puzzle game Escape Academy
added brand new challenging content for the over 1 million players that have played
the base game since launch.
ESCAPE ACADEMY: ESCAPE FROM THE PAST
Developer:
Coin Crew Games
Release Date:
June 19, 2023
Platforms:
PC, PS4, PS5, Xbox One, Xbox Series X|S
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
8
This highly-anticipated game from Mega Cat Studios combines
beloved turn-based JRPG gameplay with Pro Wrestling in a unique
combination that has surprised and enticed players and media alike.
Featuring famous wrestling legends like Jeff Jarrett, Jake The Snake,
Andre The Giant, Macho Man Randy Savage, Sgt. Slaughter and
many more, WrestleQuest is a dream game for fans of Pro Wrestling
and RPG gameplay alike.
Reviews have already lauded WrestleQuest as one of the best
wrestling games in years. Media have especially highlighted how the
game successfully translates the thrills and excitement of a wrestling
match into an RPG setting, as well as its amazing pixel art, charming
voice, and well-designed combat.
Upcoming
Releases For 2023
WRESTLEQUEST
Developer:
Mega Cat Studios
Release Date:
August 22, 2023
Platforms:
PC, PlayStation 4, PlayStation 5, Xbox Series X|S,
Nintendo Switch, iOS/Android (Netflix)
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
“WrestleQuest from developer Mega Cat Studios is by far one of
the most creative video game releases of 2023.”
Bleacher Report
“WrestleQuest is by far one of the most fun experiences I’ve ever
had with a wrestling game, and I’ve played just about all of them.”
GameTyrant - 10/10
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
9
The first original video game in the Invincible franchise will allow fans to play as Atom Eve, one
of the most powerful superheroes in the universe! Invincible Presents: Atom Eve was announced
at San Diego Comic-Con 2023 to applause from fans, and an special Atom Eve episode of the
Invincible animated series was released by Amazon Prime Video the same day to critical acclaim.
With the anticipation for Season 2 of the Invincibleseries at record levels, Invincible Presents: Atom
Eve will offer a unique way for players to further explore the world of Invincible and their favorite
characters.
INVINCIBLE PRESENTS: ATOM EVE
A unique multiplayer game of cooperation and social deception, The Walking Dead: Betrayal
builds upon Other Ocean’s hugely successful Project Winter – which has over 2.5 million players –
and brings its highly successful gameplay formula to the world of The Walking Dead.
Fans of Project Winter and The Walking Dead have already taken part in a first Closed Beta and
both players and media are excited to play more when The Walking Dead: Betrayal enters Early
Access on Steam later this year.
THE WALKING DEAD: BETRAYAL
Developer:
Other Ocean Interactive
Release Date:
Early Access – Coming Soon
Platforms:
PC
Developer:
Terrible Posture Games
Release Date:
Late 2023
Platforms:
PC
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
10
The Board of Directors and the Executive Board have discussed and approved the interim
report for the period 1 January - 30 June 2023 of 5th Planet Games Group.
The interim report has been prepared in accordance with IAS 34 Interim Financial
Reporting, as adopted by the EU, and additional Danish interim reporting requirements for
listed companies. The interim report has been subject to review.
In our opinion, the interim report gives a true and fair view of the 5th Planet Games Groups’
assets, liabilities and financial position on 30 June 2023, and of the results of the 5th Planet
Games Group’s operations and cash flows for the period 1 January - 30 June 2023.
We also find that the management’s review provides a fair statement of developments
in the activities and financial situation of the Group, financial results for the period and
the financial position of the Group and describes the significant risks and uncertainties
pertaining to the Group.
Copenhagen, 25 August 2023
Statement by the Board
of Directors and the
Executive Board
Executive Board
Mark Stanger
CEO
Henrik Nielsen
Board Member
Søren Kokbøl Jensen
Board Member
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
Board of Directors
Jon Goldman
Chairman of the Board
David Alpert
Board Member
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
11
Independent Auditors’
review report
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
12
Grant Thornton
Claus Carlsen
State-Authorized Public Accountant
MNE-nr 23451
Mathias John Vintersbølle
State-Authorized Public Accountant
MNE-nr. 47837
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
13
Consolidated statement of
comprehensive income
DKK´000 Note Q2 2023 Q2 2022 H1 2023 H1 2022 FY 2022
Revenue 2 1 949 1 813 4 423 4 727 11 300
Costs of sales 59 38 117 93 157
Gross Profit 1 890 1 775 4 306 4 634 11 143
Research and development costs 72 -34 156 537 164
Marketing expenses 0 0 0 0 0
Other expenses 1 809 2 465 4 133 5 215 9 302
Profit/Loss before special items, deprecation and amortisation (EBITDA) 9 -656 17 -1 118 1 677
Special items 0 0 0 0 0
Depreciation and amortisation 1 309 269 2 108 534 2 413
Operating loss (EBIT) -1 300 -925 -2 091 -1 652 -736
Financial income 0 1 029 1 1 264 286
Financial expenses 256 42 671 2 744 68 325 33 258
Loss before tax -1 556 -42 567 -4 834 -68 713 -33 708
Tax on loss for the year 0 0 0 0 0
Loss for the year -1 556 -42 567 -4 834 -68 713 -33 708
Other comprehensive income 0 0 0 0 0
Comprehensive income -1 556 -42 567 -4 834 -68 713 -33 708
Distribution of comprehensive income:
Parent company´s shareholders -1 556 -42 567 -4 834 -68 713 -33 708
Non-controlling interests 0 0 0 0 0
Total -1 556 -42 567 -4 834 -68 713 -33 708
Basic earnings per share (DKK) 3 -0,007 -0,275 -0,023 -0,486 -0,201
Diluted earnings per share (DKK) 3 -0,007 -0,275 -0,023 -0,486 -0,201
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
14
Consolidated balance sheet
DKK´000 Note 30.06.2023 30.06.2022 31.12.2022
Non-current assets
Acquired rights 204 1 280 737
Completed development projects 2 386 0 2 988
Development projects in progress 12 953 14 089 12 953
Total non-current assets 15 543 15 369 16 678
Current Assets:
Investments 3 500 0 0
Prepayment 270 0 0
Trade receivables 2 118 2 219 5 694
Income tax receivable 107 152 107
Other receivables 5 5 105
Accrual expenses 265 159 0
Cash 32 247 33 860 36 261
Total current assets 38 512 36 395 42 167
Total assets 54 055 51 764 58 845
EQUITY AND LIABILITIES
DKK´000 Note 30.06.2023 30.06.2022 31.12.2022
Equity:
Share capital 10 398 8 207 10 398
Reserves 0 0 0
Retained earnings 14 293 -35 535 18 488
Total Equity 24 691 -27 328 28 886
Non-current liabilities
Other payables 372 372 372
Total non-current liabilities 372 372 372
Current liabilities
Received prepayments 149 0 0
Accrual income 0 409 0
Derivative financials instruments 4 27 179 60 554 25 065
Trade payables 483 16 347 2 721
Other payables 1 181 1 410 1 801
Total current liabilities 28 992 78 720 29 587
Total Liabilities 29 364 79 092 29 959
Total equity and liabilities 54 055 51 764 58 845
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
15
Consolidated statement
of changes in equity
DKK´000 Share capital Share premium Other reserves Retained earnings Total equity
Equity as at 01.01.2023 10 398 0 0 18 488 28 886
Net Loss 0 0 0 -4 834 -4 834
Other comprehensive income 0 0 0 0 0
Comprehensive income 0 0 0 -4 834 -4 834
Share-based payments 0 0 0 639 639
Transfer of reserves 0 0 0 0 0
Transactions with owners 0 0 0 0 639
Equity as at 30.06.2023 10 398 0 0 14 293 24 691
Equity as at 01.01.2022 6 400 0 0 17 061 23 461
Net Loss 0 0 0 -68 713 -68 713
Other comprehensive income 0 0 0 0 0
Comprehensive income 0 0 0 -68 713 -68 713
Capital increases 1 807 15 084 0 0 16 891
Costs related to capital increase 0 -332 0 0 -332
Share-based payment 0 0 0 1 365 1 365
Transfer of reserves 0 -14 752 0 14 752 0
Transactions with owners 1 807 0 0 16 117 17 924
Equity as at 30.06.2022 8 207 0 0 -35 535 -27 328
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
16
Consolidated
cash flow statement
DKK´000 Q2 2023 Q2 2022 H1 2023 H1 2022 FY 2022
Loss before tax -1 556 -42 567 -4 834 -68 713 -33 708
Depreciation, amortisation and impairment losses 1 309 269 2 108 534 2 413
Share-based payments 301 691 639 1 365 2 325
Financial income, reversed 0 -1 026 -1 -1 264 -286
Financial expenses, reversed 256 42 671 2 744 68 325 33 258
Change in working capital -1 751 16 134 432 17 679 -552
Operating cash flow -1 441 16 172 1 088 17 926 3 450
Financial income, received 0 0 1 0 286
Financial expenses, paid 0 -19 0 -43 -54
Income tax received 0 -100 0 -100 0
Cash flow generated from operations -1 441 16 053 1 089 17 783 3 682
Purchase of intangible assets -973 -14 089 -973 -14 089 0
Investment in shares -1 995 0 -3 500 0 0
Purchase of IP rights 0 0 0 0 -17 278
Cash flow from investing activities -2 968 -14 089 -4 473 -14 089 -17 278
Proceeds from cash capital increase 0 16 559 0 16 559 36 808
Repayment convertible loan 0 0 0 0 -558
Cash flow from financing activities 0 16 559 0 16 559 36 250
Total cash flow for the period -4 409 18 523 -3 384 20 253 22 654
Cash, beginning of period 36 603 15 337 36 261 13 607 13 607
Net foreign exchange difference 53 0 -630 0 0
Cash, end of period 32 247 33 860 32 247 33 860 36 261
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
17
DKK´000 Q2 2023 Q2 2022 H1 2023 H1 2022 FY 2022
Sales of games and advertising for mobile devices 314 344 650 771 1 448
License income 1 075 1 320 3 198 3 807 9 692
Other revenue 560 149 575 149 160
Total 1 949 1 813 4 423 4 727 11 300
DKK´000 Q2 2023 Q2 2022 H1 2023 H1 2022 FY 2022
Net loss for the period -1 556 -42 567 -4 834 -68 713 -33 708
Average number of shares (in thousands) 207 959 154 892 207 959 141 444 167 315
Average number of treasury shares 0 0 0 0 0
Average number of shares in circulation 207 959 154 892 207 959 141 444 167 315
Diluted average number of shares in circulation 207 959 154 892 207 959 141 444 167 315
Earnings per share of DKK 0,05 each (in DKK) -0,007 -0,275 -0,023 -0,486 -0,201
Diluted earnings per share of DKK 0,05 each (in DKK) -0,007 -0,275 -0,023 -0,486 -0,201
1. Basis of preparation
The interim report has been prepared in accordance with IAS 34 Interim financial reporting,
as adopted by the EU, and additional Danish interim reporting requirements for listed
companies.
The interim report does not include all the information and disclosures required in the
annual consolidated financial statements and should be read in conjunction with the
Group’s annual consolidated financial statements as of 31 December 2022.
The accounting policies adopted in the preparation of the interim report are consistent with
those followed in the preparation of the Group’s annual consolidated financial statements
for the year ended 31 December 2022.
Significant accounting estimates and judgments
The most significant accounting estimates and judgments in the interim consolidated
financial statements remain unchanged compared to those used in Annual Report 2022.
The principles and key assumptions are described in the Annual Report 2022 in note 2.
2. Revenue
3. Earnings per share
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
INTERIM REPORT - H1 2023
18
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
4. Derivative financial instruments
On 7 September 2021, the parent company of the group entered into an investment
agreement with Skybound Games Studios (the investor). The investor receives right to
subscribe mandatorily and investment shares and warrants (collectively “rights”) which can
be exercised on different dates depending on the tranches. Each right can be exercised
for one share (i.e., 1:1 conversion ratio) and the number of shares that will be issued are
fixed for all these tranches. Upon settlement, the fixed exercise amount in Norwegian kroner
(NOK) is settled by the investor by paying its US dollar (USD) equivalent. The functional and
presentation currency of the parent company and the Group is Danish kroner (DKK). Hence,
although the exercise amount is fixed in NOK, the equivalent amount in DKK is variable
depending on the prevailing exchange rate between DKK and USD at settlement date. This
variable amount does not qualify the definition of equity instrument and therefore, these
rights are classified as derivative financial assets / liabilities.
The liability amount DKK 27.2m per 30 June 2023 is variable with the development in
exchange rate in NOK/DKK and the company’s share price. The amount is the calculated
fair value that the company would have received less if the company’s share price and
exchange rate NOK/DKK as per 30 June 2023 had been used in the agreement for the
investment Tranche 4.
Per 31 December 2022 the amount was a liability of DKK 25.1m. The costs incurred in H1 2023
therefore is an expenses or DKK 2.1m.
Contingent liabilities
Based on management’s assessment the group is not involved in any lawsuits, arbitration
cases or other matters which could have a material impact on the group’s financial position
or results of operations.
Acquired IP rights / co-productions rights
As part of the investment agreement, 5th Planet Games has provided certain representations
and warranties to Skybound Games Studios. Should Skybound Games Studios suffer a loss
due to certain specific warranties not being true, accurate and not misleading, Skybound
Games Studios will, at its own discretion, have the option of being indemnified from its
loss by exercising up to 2,200,000 warrants (depending on the loss), each warrant entitling
Skybound Games Studios to subscribe for 1 share of nominal DKK 0.05 at par value (the
“Indemnification Warrants”). The potential loss from this warranty is estimated to be
unsignificant.
INTERIM REPORT - H1 2023
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
H1 2023 Game Releases
Upcoming Releases For 2023
Statement by the Board of Directors and the Executive Board
Independent Auditors’ review report
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated cash flow statement
19
Contact details
Mark Stanger, CEO
mstanger@5thplanetgames.com
Investor Relations
ir@5thplanetgames.com
CVR No.: 33597142