5th Planet Games A/S
INTERIM REPORT
Q1 2024
2
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Index
3
4
5
6
7
9-12
9
10
11
12
13
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditors’ Review Report
Financial Statements
• Consolidated income statement and statement of other comprehensive income
• Consolidated Balance Sheet
• Statement of changes in equity
• Consolidated cash flow statement
Notes to the Financial Statements
3
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
5th Planet Games is an international, publicly traded company founded in 2011 and focused originally on financing and
publishing video games entertainment. In more recent years, our business has grown to incorporate other forms of
entertainment e.g. TV and Film.
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 rights 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.
Our association with Skybound has also given up the opportunity to broaden our interests beyond video games content,
as demonstrated by our investment in 2023 in the Icelandic TV and Film Production company Sagafilm.
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 couple of years with many more exciting opportunities ahead.
5th Planet Games At-A-Glance
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
4
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Given our outstanding performance as shown in our recently published 2023 Annual Report,
I am really pleased to continue the flood of good news in releasing the Q1 report and accounts
for 2024. Our financial performance in the first quarter of the year is summarized here;
Revenue for Q1 has increased by 13% from DKK 2.47m in 2023 to DKK 2.78m in 2024.
EBITDA has increased from DKK 8,000 in 2023 to DKK 1.27m in 2024.
Cash reserves have also increased from DKK 36m in 2023 to DKK 44.6m in 2024.
Our performance over the last two years is even more impressive when set against the
challenges being faced by the video games sector globally; the layoffs announced in recent
weeks by Sony and Electronic Arts, who join the likes of Embracer Group, Microsoft, Take-Two
Interactive, Amazon, Bungie, CD Projekt Red, Ubisoft, Riot Games, and Unity. In just the first two
months of 2024, the games industry saw an estimated 8,100 people laid off as it adjusts to the
new and challenging market conditions.
Against this background and the challenges of the wider industry, we can reflect with pride on
our efforts in recent years to minimize our cost of operations, maintain a strong cash position
and to actively pursue strategic opportunities in related sectors that mitigate the risk of video
games publishing (e.g., our investment in Sagafilm).
As a result of all the above we find ourselves in the enviable position of being presented with
new opportunities that under normal circumstances may not have been presented to us; we
are currently reviewing a number of these opportunities both within and outside of video games
publishing and I look forward to announcing more details in the coming weeks.
In terms of recent announcements, I was especially pleased to reveal details of both of the
initiatives below as they are great examples of our increasingly diverse business interests and
areas of activity.
Our interest in VAKA - a co-production between Skybound Entertainment, Amazon MGM
Studios, Unlimited Stories, and Sagafilm ehf, the entity in which 5th Planet Games is a
significant shareholder. The new series was announced in mid-March.
Our partnership with Nordisk Interactive - under the terms of the agreement, 5th Planet
Games will manage the distribution of Physical Video Games across the Nordic regions with
marketing, logistics, and distribution capability being provided by Nordisk Interactive. This is
a whole new line of business for 5th Planet and will start to contribute later this year.
Today we are a small but growing, stable and well-resourced company operating in markets
that are presenting exciting opportunities for further, dynamic growth and diversification.
Our guidance for the year remains unchanged from that published in the 2023 Annual Report
a few weeks ago.
Wishing you all a happy Spring,
Mark Stanger, CEO
May 2024
CEO Letter
Mark Stanger - CEO
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
5
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Outlook for 2024
Based on the result in Q1 2024, the financial guidance for 2024 remains the same as announced
in the annual report for 2023, an increase in Revenue and EBITDA of 30% above our 2023 results.
Key figures and financial performance
Outlook for 2024, Key Figures and Financial Performance
Revenue for Q1 2024 amounted to DKK 2.8m, a 13% increase from DKK 2.5M in Q1 2023
Gross profit for Q1 2024 amounted to DKK 2.7M, a 14% increase from DKK 2.4M in Q1 2023
Costs for Q1 2024 decreased by DKK 0.9M compared to Q1 2023.
EBITDA was a gain DKK 1.3M in Q1 2024 against a profit of DKK 8k in Q1 2023. The increase in
EBITDA is driven by an increase in revenue and decrease in cost.
Financial income is a gain of DKK1.0m.
Profit before tax amounted to DKK 0.3M in Q1 2024 compared to a loss of DKK 3.3M in Q1 2023.
Cash flows from operating activities is negative with DKK 5.9M in Q1 2024 against a positive DKK
2.5M cashflow in Q1 2024.
Cash position as of 31 March 2024 amounted to DKK 44.6M against DKK 36.6M as of 31 March 2023.
The Group’s equity as of 31 March 2024 amounted DKK 85.9M
DKK ‘000
Q1 2024 Q1 2023 FY 2023
Revenue and other income 2 785 2 474 16 586
Gross profit and other income 2 745 2 416 16 324
Loss before special items (EBITDA) 1 272 8 7 499
Operating profit/loss (EBIT) -719 -791 -136
Net Financials exclusive change in derivative instruments 1 044 -681 -332
Change in derivative financials instruments, fair value 0 -1 806 25 065
Net Financials 1 044 -2 487 24 733
Net profit for the year 325 -3 278 24 543
Net profit for the year exclusive fair value of derivative financials instruments 325 -1 472 -522
Total assets 87 347 55 875 91 304
Capitalized and expenses costs development 119 84 3 279
Equity 85 915 25 946 85 421
Cash 44 573 36 603 49 305
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
6
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
The Board of Directors and the Executive Board have discussed and approved the interim
report for the period of 1 January 2024 - 31 March 2024, 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 31 March, 2024, and of the results of the 5th Planet
Games Group’s operations and cash flows for the period of 1 January 2024 - 31 March 2024.
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.
Executive Management
Board of Directors:
Statement by the Board of Directors
and the Executive Board
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
7
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
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 January - 31 March, 2024, 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 9-14).
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
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
8
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Conclusion
CVR-nr. 34 20 99 36
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
9
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
DKK´000 Note Q1 2024 Q1 2023 FY 2023
Revenue 2 2 785 2 474 9 764
Costs of sales 40 58 262
Gross Profit 2 745 2 416 9 502
Other income 0 0 6 822
Research and development costs 119 84 183
Other expenses 1 354 2 324 8 642
Profit/Loss before special items, deprecation and amortisation (EBITDA) 1 272 8 7 499
Depreciation and amortisation 1 991 799 7 635
Operating profit/loss (EBIT) -719 -791 -136
Financial income 1 128 1 26 181
Financial expenses 84 2 488 1 448
Profit/Loss before tax 325 -3 278 24 597
Tax on loss for the year 0 0 54
Profit/Loss for the year from continuing operations 325 -3 278 24 543
Other comprehensive income 0 0 0
Comprehensive income 325 -3 278 24 543
Distribution of comprehensive income:
Parent company´s shareholders 325 -3 278 24 543
Non-controlling interests 0
Total 325 -3 278 24 543
Basic earnings per share:
From operations (DKK) 3 0,001 -0,016 0,108
Total DKK) 0,001 -0,016 0,108
Diluted earnings per share:
From operations (DKK) 3 0,001 -0,016 0,078
Total DKK) 0,001 -0,016 0,078
Consolidated income statement and statement of other comprehensive income
Financial Statements
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
10
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
DKK´000 Note 31.03.2024 31.03.2023 31.12.2023
Non-current assets
Acquired rights 0 472 0
Completed development projects 7 405 2 455 9 396
Development projects in progress 0 12 953 0
Other investments 21 329 0 21 329
Other receivables 4 084 0 4 084
Total non-current assets 32 818 15 880 34 809
Current Assets:
Prepayment 275 1 505 25
Trade receivables 5 122 1 335 2 747
Income tax receivable 0 107 0
Other receivables 4 559 142 4 418
Accrual expenses 0 303 0
Cash 44 573 36 603 49 305
Total current assets 54 529 39 995 56 495
Total assets 87 347 55 875 91 304
EQUITY AND LIABILITIES
DKK´000 Note 31.03.2024 31.03.2023 31.12.2023
Equity:
Share capital 13 419 10 398 13 404
Retained earnings 72 496 15 548 72 017
Total Equity 85 915 25 946 85 421
Non-current liabilities
Other payables 0 372 0
Total non-current liabilities 0 372 0
Current liabilities
Received prepayments 0 136 0
Accrual income 0 558 0
Derivative financials instruments 4 0 26 871 0
Trade payables 1 061 697 5 055
Other payables 371 1 295 828
Total current liabilities 1 432 29 557 5 883
Total Liabilities 1 432 29 929 5 883
Total equity and liabilities 87 347 55 875 91 304
Consolidated Balance Sheet
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
11
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Reserves
DKK´000 Share capital Share premium Retained earnings Total equity
Equity as at 01.01.2024 13 404 0 72 017 85 421
Net Loss 0 0 325 325
Other comprehensive income 0 0 0 0
Comprehensive income 0 0 325 325
Capital increase 15 97 0 112
Share-based payments 0 0 57 57
Transfer of reserves 0 -97 97 0
Transactions with owners 15 0 154 169
Equity as at 31.03.2024 13 419 0 72 496 85 915
Equity as at 01.01.2023 10 398 0 18 488 28 886
Net Loss 0 0 -3 278 -3 278
Other comprehensive income 0 0 0 0
Comprehensive income 0 0 -3 278 -3 278
Share-based payment 0 0 338 338
Transfer of reserves 0 0 0 0
Transactions with owners 0 0 338 338
Equity as at 31.03.2023 10 398 0 15 548 25 946
Statement of changes in equity
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
12
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
DKK´000 Note 31.03.2024 31.03.2023 FY 2023
Loss before tax 325 -3 278 24 543
Depreciation, amortisation and impairment losses 1 991 799 7 635
Share-based payments 57 338 1 099
Financial income, reversed -1 128 -1 -26 181
Financial expenses, reversed 84 2 488 1 448
Change in working capital -7 217 2 183 -30
Operating cash flow -5 888 2 529 8 514
Financial income, received 0 1 1 111
Financial expenses, paid -3 0 0
Income tax received 0 0 107
Cash flow generated from operations -5 891 2 530 9 732
Investment in shares 0 -1 505 0
Sale of right of use assests 0 0 -4 084
Long term receivable 0 0 2 926
Investments in projects 0 0 -3 279
Cash flow from investing activities 0 -1 505 -4 437
Proceeds from cash capital increase 112 0 30 893
Repayment convertible loan 0 0 -372
Investment in financial assets 0 0 -21 329
Cash flow from financing activities 112 0 9 192
Total cash flow for the period -5 779 1 025 14 487
Cash, beginning of period 49 305 36 261 36 261
Net foreign exchange difference 1 047 -683 -1 443
Cash, end of period 44 573 36 603 49 305
Consolidated cash flow statement
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
13
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
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 2023. 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 2023.
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 2023.
The principles and key assumptions are described in the Annual Report 2023 in note 2.
2. Revenue
Notes to the Financial Statements
DKK´000 Q1 2024 Q1 2023 FY 2023
Sales of games and advertising for mobile devices 243 336 1 202
License income 2 531 2 123 7 994
Other revenue 11 15 568
Total 2 785 2 474 9 764
3. Earnings per share
DKK´000 Q1 2024 Q1 2023 FY 2023
Net profit/loss for the period 325 -3 278 24 543
Weighted average number of ordinary shares used as the denominator in calculating
basic earnings per share (in thousands) 268 118 207 959 226 901
Adjustments for calculation of diluted earnings per share:
Warrants 87 620 87 920
Weighted average number of ordinary shares and potential ordinary shares used as the
denominator in calculating diluted earnings per share (in thousands) 355 738 207 959 314 821
Earnings per share of DKK 0,05 each (in DKK) 0,001 -0,016 0,103
Diluted earnings per share of DKK 0,05 each (in DKK) 0,001 -0,016 0,078
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
14
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
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 the 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 would be
issued were fixed for all these tranches. 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 was variable depending on the prevailing exchange rate between DKK and USD at
settlement date. This variable amount did not qualify the definition of equity instrument
and therefore, these rights were classified as derivative financial assets / liabilities. As the
last Tranche was executed in September 2023 there is no longer a liability and the liability
amount of DKK 25.1m was recognized as financial income in 2023
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.
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.
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key Figures and Financial Performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ Review Report
Consolidated Income Statement and Statement of Other Comprehensive Income
Consolidated Balance Sheet
Statement of Changes in Equity
Consolidated Cash Flow Statement
Notes to the Financial Statements
15
INTERIM REPORT Q1 2024
5th Planet Games At-A-Glance
CEO Letter
Outlook for 2024, Key figures and financial performance
Statement by the Board of Directors and the Executive Board
Independent Auditiors’ review report
Consolidated income statement and statement of other comprehensive income
Consolidated Balance Sheet
Statement of changes in equity
Consolidated cash flow statement
Notes to the financial statements
Contact details
Mark Stanger, CEO
Investor Relations
ir@5thplanetgames.com
Gothersgade 11
1123 Copenhagen
Denmark
CVR No.: 3359 7142