PULLUP ENTERTAINMENT: H1 2024/25 RESULTS

Paris, 12 December 2024, 5.45 p.m.

PULLUP ENTERTAINMENT

H1 2024/25 RESULTS

Record results

Continuation of the remarkable momentum of Warhammer 40,000: Space Marine 2,

with over 5 million unique players to date

Strong H1 back catalog performance

Annual targets confirmed and significant reduction in net debt expected

Record H1 2024/25: revenue of €234.3m and EBITA of €48.3m

Warhammer 40.000: Space Marine 2

• Among the Top 5 worldwide best sellers on Steam over Thanksgiving[1]
• Exceptional player reviews, with 94%[2] positive ratings
• Favourable brand calendar for extending player engagement:

• Release of a major game update on 10 December and broadcast on the Prime Video platform of the episode “And They Shall Know No Fear”, dedicated to the Warhammer 40,000: Space Marine universe, from the highly anticipated “Secret Level” TV show
• Multiple awards: longlisted in seven categories in the 2025 BAFTA Games Awards, including “Best Game of the Year”, and nominated in the “Best Multiplayer Game” and “Best Action Game” categories at “The Games Awards”

PULLUP Entertainment’s game portfolio is perfectly positioned in the dynamic segment of AA and independent games with uncompromising gameplay

• Train Sim World 5 continues to outperform previous versions thanks to its powerful Live model
• Solid combined performance for the three independent games launched since the start of the fiscal third quarter, Metal Slug Tactics, Void Crew and Drova - Forsaken Kin, with excellent player ratings on Steam

PARIS, FRANCE – 12 December 2024 – PULLUP Entertainment (FR0012419307 - ALPUL), a collective of internationally recognised talents in the publishing and creation of original video game content, is announcing its results for the first half of the 2024/25 fiscal year ended 30 September 2024.

Geoffroy Sardin, Deputy CEO of PULLUP Entertainment, commented: “These excellent results reflect the relevance of PULLUP Entertainment AA and indie games positioning, targeting particularly dynamic segments with passionate and highly engaged communities of players. Our titles, with their demanding gameplay, meet the current players’ expectations for uncompromising experiences, as evidenced by the very high ratings[3] on Steam for our last five releases. Our record-breaking results also illustrate the benefits gained from the organization's growing maturity and discipline. They further strengthen our visibility and confidence for the upcoming fiscal years.”

Aurélien Briand, Chief Financial Officer, said: “Our record first-half financial results reflect the historical performance of Warhammer 40,000: Space Marine 2 and, to a lesser extent, the strong momentum of our back catalogue. EBITA amounted to €48.3m and came hand in hand with strong cash generation, excluding the WCR impact. As a result, earnings are expected to rise sharply over the year and net debt to be significantly reduced.” 

Fabrice Larue, Chairman and CEO, said: “Our strategy is clear, execution comes first and we are demonstrating it. We have an ambitious line-up to deliver in the coming years, including, for next fiscal year, Memories in Orbit, Roadcraft, John Carpenter’s Toxic Commando, and particularly exciting Dotemu games that will be unveiled very soon. We are fully committed to creating strong value for the Group and all PULLUP Entertainment shareholders.”

CONSOLIDATED INCOME STATEMENT MONITORED BY MANAGEMENT (half-year

ended 30 September 2024)