FOCUS ENTERTAINMENT: Announces its results for the 2023/24 financial year – a year of structuring and new organisation for the Group

Paris, 20 June 2024, 5.45pm

PULLUP Entertainment

Announces its results for the 2023/24 financial year – a year of structuring and new organisation for the Group

And confirms its ambition to become one of the leaders in development and publishing in the independent and AA+ games market

• 2023/24 financial year:
  • Revenue of €187.3 million; EBITDA at €65.2 million; EBITA at -€0.3 million
  • Outperformance of the back-catalogue, thanks in particular to the contribution of games with additional content and “live games”
• Since 31 March 2024:
  • A strengthened financial position to seize new development opportunities
  • Two strategic minority stakes in two studios, accompanied by publishing contracts:
    • RUNDISC, a French studio, creator of the award-winning video game Chants of Sennaar
    • UPPERCUT GAMES, an Australian-based studio founded by industry veterans whose teams are specialized in creating successful original franchises
• Outlook:
  • Solid growth in revenue and rebound in FY24/25 results expected thanks to a robust pipeline, including Warhammer 40,000: Space Marine 2, one of the most highly-anticipated games of the year.
  • Confirmation of the medium-term objective of a 50% revenue mix from owned IP/co-owned IP and driven by a line-up of more than 60 projects to be launched over three years, out of which half are live games

PARIS, FRANCE – 20 June 2024 – PULLUP Entertainment (FR0012419307 - ALPUL), a collective of internationally recognised talents in the publishing and creation of original video game content, announces its annual results for the 2023/24 financial year ended 31 March 2024.

Highlights of the 2023/24 financial year:

A year of structuring: revenue of €187.3 million; EBITDA of €65.2 million; EBITA of -€0.3 million; a robust back catalogue; good performance of games launched during the year with the exception of Atlas Fallen, an improved version of which will be relaunched in the 2024/25 financial year; the postponement of two AA games; adjustment of the value of the games portfolio.

New Group organisation and reaffirmation of the strategy: a new name, PULLUP Entertainment, to embody a balanced developer/publisher model, offering synergies and the most ambitious game portfolio in its history over the next three years.

Three complementary business divisions: two dedicated to publishing, with FOCUS Entertainment Publishing for AAs and DOTEMU for independent games and retrogaming, as well as PULLUP Studios, which encompasses the Group’s in-house studios.

Five key appointments to support growth: Geoffroy Sardin, Deputy Chief Executive Officer of PULLUP Entertainment Group, Ahmed Boukhelifa, Deputy Chief Executive Officer of PULLUP Studios, Lars Janssen, Chief Executive Officer of DECK 13 interactive, Frédéric Menou, Chief Operating Officer of DOTEMU, and Nicolas Deschamps, Chief Marketing Officer of FOCUS Entertainment Publishing.

Acquisition of DOVETAIL GAMES: recognised for its expertise in developing proprietary simulation brands generating recurring revenue, in line with PULLUP Entertainment’s strategy to move up the value chain.

Creation of SCRIPTEAM: an audiovisual production platform, with the acquisition of a majority stake in two experienced audiovisual production studios: Make It Happen Studio and Marvelous Productions. 

CONSOLIDATED INCOME STATEMENT MONITORED BY MANAGEMENT (year ended 31 March 2024) – Audit procedures completed