5th Planet Games A/S
INTERIM REPORT
Q3 2023
INTERIM REPORT - Q3 2023
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About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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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
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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INTERIM REPORT - Q3 2023
Once again, I am in the happy position to report another profitable quarter, our third in
succession…and our most profitable quarter ever!
EBITDA before special items for the period ending September 30, 2023, was a gain of DKK
1.6M compared to DKK 0.4M in Q3 2022, an increase of 258% compared to last year; with
our costs remaining extremely low and consistent, this improvement in EBITDA has been
driven directly by the increase in our top-line revenue.
Key highlights for Q3:
Revenue for Q3 2023 amounted to DKK 3.5M, an 75% increase from DKK 2.0M in Q3 2022
Gross profit for Q3 2023 amounted to DKK 3.4M, an 73% increase from DKK 1.9M in Q3 2022
EBITDA for Q3 2023 of DKK 1.6M which represents an increase of 258% from Q3 2022!
From a product perspective, the key drivers of the business through this quarter have been
Before Your Eyes which continues to see strong sales across multiple platforms, Escape
Academy which has also performed above expectation, and our decision to continue
to support our back catalogue of mobile games has been validated as the catalogue
continues to deliver ahead of projections. The early sales on WrestleQuest have been a
little below our projections, but we are now seeing signs of the game responding to new
promotions and marketing activity and we will continue to review its performance through
the end of the year.
Apart from the financial results and performance of individual games, there have been
several more notable achievements in Q3:
• Closing our co-investment in Sagafilm ehf
• Receiving the final (Tranche 4) investment from Skybound in relation to the 2021
investment agreement
• The launch of the Hugo Legacy online Casino slots game, celebrating 30 years of the
Hugo IP
• The announcement of our involvement in Invincible Presents: Atom Eve, the all-new
RPG video game
Based on these results and our underlying financials in Q3 2023,der the guidance for 2023
remains the same as announced in our annual report, revenue at a level of DKK 15-25M and
EBITDA at a level of DKK 7-9M for the full year.
Thanks, as ever, for your continued support.
Mark Stanger – CEO
November 2023
CEO Letter: Q3 2023
Mark Stanger - CEO
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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Revenue for Q3 2023 amounted to DKK 3.5m, an 75% increase from DKK
2.0M in Q3 2022
Gross profit for Q3 2023 amounted to DKK 3.4M, an 73% increase from
DKK 1.9M in Q2 2022
Costs for Q3 2023 increased by DKK 0.3M compared to Q3 2022.
• Other expenses were in Q3 2023 DKK 1.8M, an increase of DKK 0.5M
compared to Q2 2022.
EBITDA was a gain DKK 1.6M in Q3 2023 against a profit of DKK 0.4M in Q3
2022. The increase in EBITDA is mainly driven by an increase in revenue.
Financial income is a gain of DKK 25,065M, the gain is caused by the
reverse of the derivate liability after Tranche 4 is executed.
Profit before tax amounted to DKK 27.5M in Q3 2023 compared to
DKK 49.6M in Q3 2022. Both quarters are affected positively from the
adjustment of the derivate.
Profit exclusive change in fair value of derivative financial instruments
amounted to DKK 0.3M in Q3 2023 including a loss from net financials of
DKK 0.2M compared to a gain of DKK 1.6M in Q3 2022 including a gain from
net financial of DKK 1.6M.
Cash flows from operating activities.
Cash flows from operating activities is positive with DKK 2.6M in Q3 2023
against a negative DKK 12.8M cashflow in Q3 2023.
Cash position as of 30 September 2023 amounted to DKK 49.8M against
DKK 41.0M as of 30 September 2022.
The Group’s equity as of 30 September 2023 amounted DKK 84.6M.
Key figures and financial performance
DKK ‘000
Q3
2023
Q3
2022
Q1-3
2023
Q1-3
2022
FY
2022
Revenue 3 540 2 020 7 963 6 747 11 300
Gross Profit 3 445 1 988 7 751 6 622 11 143
Profit / loss before special items (EBITDA) 1 643 459 1 660 -659 1 677
Operating profit/loss (EBIT) 510 46 -1 581 -1 606 -736
Net Financials exclusive change in derivative instruments -171 1 604 -800 2 825 -179
Change in derivative financial instruments, fair value 27 179 47 972 25 065 -20 310 -32 793
Profit / loss for the year 27 478 49 622 22 644 -19 091 -33 708
Profit / loss exclusive fair value of derivative financial instruments 299 1 650 -2 421 1 219 -915
Total assets 87 257 59 470 87 257 59 470 58 845
Capitalized development costs 1 0 974 14 089 17 278
Equity 84 664 42 844 84 664 42 844 28 886
Equity exclusive fair value derivative financial instruments 84 664 55 426 84 664 55 426 53 951
Outlook for 2023
Based on the result in Q3 2023, the financial guidance for 2023 remains the same as
announced in the annual report for 2023, a revenue at a level of DKK 15-25M and EBITDA
at a level of DKK 7-9M.
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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This long-awaited love letter to retro JRPGs and the Golden Age of wrestling released
on all major platforms, supported by a heavy marketing campaign featuring famous
wrestlers like Jeff Jarrett and Diamond Dallas Page.
WrestleQuest delivered on its nostalgic fulfillment for fans of 80s/90s wrestling and
pop culture, with an engrossing narrative encompassing over 40 hours of gameplay.
Players have since been treated with hefty post-launch updates and quality of
life additions, addressing all feedback from the community by way of accessibility
features to streamline gameplay.
Developer Mega Cat Games will keep supporting the game as it currently sits at 84%
positive rating on Steam.
WRESTLEQUEST
Developer:
Mega Cat Studios
Release Date:
August 22, 2023
Platforms:
PC, PlayStation 4-5, Xbox Series X|S,
Nintendo Switch, iOS/Android
Q3 2023 Game Releases
“WrestleQuest is such a wonderful love letter to both wrestling and
classic role-playing games.”
- But Why Tho? (9/10)
“WrestleQuest reimagines familiar concepts in a fresh and enticing way
making it one of the most imaginative RPGs I’ve played in years.”
- RPG Fan (91/100)
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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The first original Invincible video game, co-financed by 5th Planet Games, celebrates
one of its most popular heroes: Atom Eve.
Fans were treated to Eve’s origin story in a Special Episode of the Invincible animated
series on Prime Video in July of this year, and this new game will let fans dive even
deeper into the world of Atom Eve and Invincible.
The title was released on PC platforms alongside the start of the highly anticipated
Season 2 of the Invincible series, which has tripled its opening weekend viewership
from Season 1.
The game release benefited from the special partnership with Amazon and was
free to claim for subscribers of Amazon Prime via the Prime Gaming platform for
the first week of release. Marketing cooperation with Prime Video and Prime Gaming
created further synergy to reach fans directly via Invincible social media.
The game has received a great reception from the press and will be a primary source
of more Invincible storytelling for fans waiting for the second half of Season 2 in 2024.
Q4 2023 Game Releases
INVINCIBLE PRESENTS: ATOM EVE
Developer:
Terrible Posture Games
Release Date:
November 14, 2023
Platforms:
PC
“Invincible Presents: Atom Eve is the Invincible game I didn’t know I wanted.”
- AIPT Comics (8.8/10)
“A Must-Play for Invincible and Visual Novel Fans”
- CBR (9/10)
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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INTERIM REPORT - Q3 2023
The Board of Directors and the Executive Board have discussed and approved the interim
report for the period of 1 July - 30 September, 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 Group’s
assets, liabilities and financial position on 30 September, 2023, and of the results of the 5th
Planet Games Group’s operations and cash flows for the period of 1 July - 30 September,
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, 20 November 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
Board of Directors
Jon Goldman
Chairman of the Board
David Alpert
Board Member
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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INTERIM REPORT - Q3 2023
To the shareholders of 5th Planet Games A/S
We have reviewed the interim consolidated financial statements of 5th Planet Games A/S
for the period of 1 July - 30 September, 2023, comprising income statement, statement of
comprehensive income, balance sheet, cash flow statement and statement of changes in
equity as well as selected explanatory notes, including summary of significant accounting
policies (page 11-16).
The Board of Directors’ and the Management’s responsibility for the interim consolidated
financial statements
The Board of Directors and the Management are responsible for the preparation of interim
consolidated financial statements in accordance with IAS 34, Interim Financial Reporting,
as adopted by the EU and Danish disclosure requirements for interim financial reporting of
listed companies, and for such internal control as management determines is necessary
to enable the preparation of interim financial statements that are free from material
misstatement, whether due to fraud or error.
Auditors’ responsibility
Our responsibility is to express a conclusion on the interim consolidated financial statements
based on our review. We conducted our review in accordance with the International
Standard on Review of Interim Financial Information Performed by the Independent Auditor
of the Entity and additional requirements under Danish Auditor regulation. This requires us
to conclude whether anything has come to our attention that causes us to believe that
the interim consolidated financial statements, taken as a whole, are not prepared in all
material respects in accordance with the applicable financial reporting framework. This
also requires us to comply with ethical requirements.
A review of interim consolidated financial statements in accordance with the International
Standard on Review of Interim Financial Information Performed by the Independent
Auditor of the Entity is a limited assurance engagement. The auditor performs procedures,
primarily consisting of making inquiries of management and others within the entity, as
appropriate, and applying analytical procedures, and evaluates the evidence obtained.
The procedures performed in a review are substantially less than those performed in an
audit conducted in accordance with International Standards on Auditing. Accordingly, we
do not express an audit opinion on the interim consolidated financial statements.
Independent Auditors’
review report
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the
interim consolidated financial statements for the period of 1 July - 30 September, 2023, are
not prepared in all material respects in accordance with IAS 34, Interim Financial Reporting,
as adopted by the EU and Danish disclosure requirements for interim financial reporting of
listed companies.
Copenhagen, 21 November 2023
Claus Carlsen
State-Authorized Public Accountant
MNE-nr 23451
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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Consolidated statement of
comprehensive income
DKK´000 Note Q3 2023 Q3 2022 Q1-3 2023 Q1-3 2022 FY 2022
Revenue 2 3 540 2 020 7 963 6 747 11 300
Costs of sales 95 32 212 125 157
Gross Profit 3 445 1 988 7 751 6 622 11 143
Research and development costs 0 274 156 811 164
Marketing expenses 0 0 0 0 0
Other expenses 1 802 1 255 5 935 6 470 9 302
Profit/Loss before special items, deprecation and amortisation (EBITDA) 1 643 459 1 660 -659 1 677
Special items 0 0 0 0 0
Depreciation and amortisation 1 133 413 3 241 947 2 413
Operating profit/loss (EBIT) 510 46 -1 581 -1 606 -736
Financial income 25 065 49 586 25 066 2 878 286
Financial expenses -1 943 10 801 20 363 33 258
Profit/Loss before tax 27 518 49 622 22 684 -19 091 -33 708
Tax on loss for the year 40 0 40 0 0
Profit/Loss for the year 27 478 49 622 22 644 -19 091 -33 708
Other comprehensive income 0 0 0 0 0
Comprehensive income 27 478 49 622 22 644 -19 091 -33 708
Distribution of comprehensive income:
Parent company´s shareholders 27 478 49 622 22 644 -19 091 -33 708
Non-controlling interests 0 0 0 0 0
Total 27 478 49 622 22 644 -19 091 -33 708
Basic earnings per share (DKK) 3 0,123 0,277 0,106 -0,124 -0,201
Diluted earnings per share (DKK) 3 0,123 0,277 0,106 -0,124 -0,201
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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Consolidated balance sheet
DKK´000 Note 30.09.2023 30.09.2022 31.12.2022
Non-current assets
Acquired rights 0 1 009 737
Completed development projects 3 050 994 2 988
Development projects in progress 11 361 12 953 12 953
Investments in associates 17 145 0 0
Other investments 3 500 0 0
Total non-current assets 35 056 14 956 16 678
Current Assets:
Investment 0 0 0
Prepayment 161 105 0
Trade receivables 1 884 3 120 5 694
Income tax receivable 81 94 107
Other receivables 5 5 105
Accrual expenses 209 159 0
Cash 49 861 41 031 36 261
Total current assets 52 201 44 514 42 167
Total assets 87 257 59 470 58 845
EQUITY AND LIABILITIES
DKK´000 Note 30.09.2023 30.09.2022 31.12.2022
Equity:
Share capital 13 404 10 374 10 398
Reserves 0 0 0
Retained earnings 71 260 32 470 18 488
Total Equity 84 664 42 844 28 886
Non-current liabilities
Other payables 372 372 372
Total non-current liabilities 372 372 372
Current liabilities
Received prepayments 219 0 0
Accrual income 0 409 0
Derivative financial instruments 4 0 12 582 25 065
Trade payables 573 1 612 2 721
Other payables 1 429 1 651 1 801
Total current liabilities 2 221 16 254 29 587
Total Liabilities 2 593 16 626 29 959
Total equity and liabilities 87 257 59 470 58 845
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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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 Profit 0 0 0 22 644 22 644
Other comprehensive income 0 0 0 0 0
Comprehensive income 0 0 0 22 644 22 644
Capital increase 3 006 29 310 0 0 32 316
Costs related to capital increase 0 -71 0 0 -71
Share-based payments 0 0 0 889 889
Transfer of reserves 0 -29 239 0 29 239 0
Transactions with owners 3 006 0 0 30 128 33 134
Equity as at 30.09.2023 13 404 0 0 71 260 84 664
Equity as at 01.01.2022 6 400 0 0 17 061 23 461
Net Loss 0 0 0 -19 091 -19 091
Other comprehensive income 0 0 0 0 0
Comprehensive income 0 0 0 -19 091 -19 091
Capital increase 3 974 33 045 0 0 37 019
Costs related to capital increase 0 -450 0 0 -450
Share-based payments 0 0 0 1 905 1 905
Transfer of reserves 0 -32 595 0 32 595 0
Transactions with owners 3 974 0 0 34 500 38 474
Equity as at 30.09.2022 10 374 0 0 32 470 42 844
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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Consolidated
cash flow statement
DKK´000 Q3 2023 Q3 2022 Q1-3 2023 Q1-3 2022 FY 2022
Loss before tax 27 478 49 622 22 644 -19 091 -33 708
Depreciation, amortisation and impairment losses 1 133 413 3 241 947 2 413
Share-based payments 250 540 889 1 905 2 325
Financial income, reversed -25 065 -1 614 -25 066 -2 878 -286
Financial expenses, reversed -1 943 -47 962 801 20 363 33 258
Change in working capital 807 -13 887 1 239 3 792 -552
Operating cash flow 2 660 -12 888 3 748 5 038 3 450
Financial income, received 0 0 1 0 286
Financial expenses, paid -1 -9 -1 -52 -54
Income tax received 26 58 26 -42 0
Cash flow generated from operations 2 685 -12 839 3 774 4 944 3 682
Purchase of intangible assets -1 0 -974 -14 089 -17 278
Investment in shares -6 106 0 -9 606 0 0
Cash flow from investing activities -6 107 0 -10 580 -14 089 -17 278
Proceeds from cash capital increase 21 206 20 010 21 206 36 569 36 808
Repayment convertible loan 0 0 0 0 -558
Cash flow from financing activities 21 206 20 010 21 206 36 569 36 250
Total cash flow for the period 17 784 7 171 14 400 27 424 22 654
Cash, beginning of period 32 247 33 860 36 261 13 607 13 607
Net foreign exchange difference -170 0 -800 0 0
Cash, end of period 49 861 41 031 49 861 41 031 36 261
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
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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.
DKK´000 Q3 2023 Q3 2022 Q1-3 2023 Q1-3 2022 FY 2022
Sales of games and advertising for mobile devices 317 292 967 1 063 1 448
License income 3 223 1 728 6 421 5 535 9 692
Other revenue 0 0 575 149 160
Total 3 540 2 020 7 963 6 747 11 300
DKK´000 Q3 2023 Q3 2022 Q1-3 2023 Q1-3 2022 FY 2022
Net profit/loss for the period 27 478 49 622 22 644 -19 091 -33 708
Average number of shares (in thousands) 223 154 178 895 213 043 154 057 167 315
Average number of treasury shares 0 0 0 0 0
Average number of shares in circulation 223 154 178 895 213 043 154 057 167 315
Diluted average number of shares in circulation 223 154 178 895 213 043 154 057 167 315
Earnings per share of DKK 0,05 each (in DKK) 0,123 0,277 0,106 -0,124 -0,201
Diluted earnings per share of DKK 0,05 each (in DKK) 0,123 0,277 0,106 -0,124 -0,201
2. Revenue
3. Earnings per share
Notes
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
INTERIM REPORT - Q3 2023
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INTERIM REPORT - Q3 2023
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 received right to
subscribe mandatorily and investment shares and warrants (collectively “rights”) which
could be exercised on different dates depending on the tranches. Each right could be
exercised for one share (i.e., 1:1 conversion ratio) and the number of shares that was issued
were fixed for all these tranches. The last tranche, Tranche 4 was settled in September
2023. Upon settlement, the fixed exercise amount in Norwegian kroner (NOK) was 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
were classified as derivative financial assets / liabilities. The liability was variable with the
development in exchange rate in NOK/DKK and the company’s share price. The amount was
the calculated fair value that the company would have received less if the company’s share
price and exchange rate NOK/DKK for the closing date had been used in the agreement for
the investment Tranche 4. As the rights have now been exercised there is no liability. The
liability amount per 30 June 2023 was DKK 27.2M and the gain incurred in Q3 2023 is DKK
25.065m.
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.
About 5th Planet Games
CEO letter
Outlook for 2023, Key figures and financial performance
Q3 2023 Game Releases
Q4 2023 Game Releases
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
Notes
INTERIM REPORT - Q3 2023
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INTERIM REPORT - Q3 2023
Contact details
Mark Stanger, CEO
mstanger@5thplanetgames.com
Investor Relations
ir@5thplanetgames.com
Denmark
CVR No.: 3359 7142