The high sales of Green Hell on all hardware platforms, supported by the successful release of Animal Husbandry expansion pack for PC, allowed Creepy Jar S.A. to generate PLN 15.0 million in sales revenues (an increase by 6% y/y) and PLN 10.8 million in net profit in the third quarter of 2022. The Company focuses on the production of Chimera and the further development of Green Hell.
The high level of sales revenue is due to the very good sales of Green Hell on all hardware platforms, in particular on PC/Steam. This is primarily the result of a good reception of the Animal Husbandry expansion pack. The new content has received a lot of positive feedback from players, and the game was once again among the 25 best-selling games on the Steam platform.
Gross sales of Green Hell by volume in the third quarter of 2022 on PC/Steam, PlayStation Store and Microsoft Store platforms (versions of the game to which the Company holds publishing rights) amounted to 319 thousand copies, with 69 thousand copies on PlayStation and Xbox consoles. In the first three quarters of 2022, the gross sales of Green Hell on the a/m platforms amounted to 968 thousand copies, with 259 thousand on PlayStation and Xbox. In the third quarter of 2022.
In the third quarter of 2022, the Company generated operating profit in the amount of PLN 10.1 million (an increase by 2% y/y) and PLN 10.8 million in net profit (an increase by 19% y/y). The Company maintains a high cash generating efficiency. Cash flow from operating activities in the third quarter of 2022 amounted to PLN 19.0 million, which means an increase by 53% y/y. Short-term financial assets as at 30 September 2022 amounted to PLN 78.0 million.
Due to the regular development of Green Hell as well as making the game available on subsequent platforms, 4 years after the release of the game in Early Access formula on the Steam platform Creepy Jar is generating more and more revenues from the sale with each passing year. The Creepy Jar S.A.’s total net revenues from this IP from the beginning of the sale till the end of July 2022 amounted to nearly PLN 128 million, with total expenditures on the production and development of the title amounting to approx. PLN 13.9 million (in the period from the beginning of production to 31 July 2022).
In recent months the Company has released a number of updates to Green Hell in PC version, including Achievements Update, which adds 28 new achievements to the game on Steam dedicated to both the Spirits of Amazonia and Animal Husbandry series, and a patch which allows naming of the farmed animals. In November 2022 Creepy Jar added Plant Naming Patch to the game, which allows players to name plants found in the Amazon jungle. At present, the Company is finalising work on the Building Update expansion pack on PC, which will significantly expand the ability to construct and build a base. In 2022, console players will also receive the Spirits of Amazonia 3 expansion pack for PlayStation 4 and Xbox One consoles.
In the third quarter of 2022 the Company continued work on its second original project called Chimera, including its first marketing materials (reveal teaser and key art). After having analysed current trends in the promotion of new titles, the Company decided to increase the scope of the first materials released, among others, by launching the Steam card and the product website. The Company will decide on the time of their publication in the first quarter of 2023.
- With regards to the effectiveness of marketing activities, making more materials available at the beginning will not only make it easier for players to understand what our new production is, but also increase the visibility of the project. We decided to develop additional materials, with which we will start building a community around Chimera – says Krzysztof Kwiatek, CEO of Creepy Jar S.A.
The total value of expenditures incurred on the production of Chimera by 30 September 2022 amounted to PLN 5.8 million, with PLN 1.2 million incurred in the third quarter of 2022.
In the first three quarters of 2022, Creepy Jar S.A. recorded a total of PLN 43.0 million in sales revenues and PLN 29.2 million in operating profit, which means an increase by 22% and 25% respectively, compared to the corresponding period of 2021. In turn, the net profit in this period increased by 39% to the level of PLN 29.4 million.