While the first quarter was a record one for GAMIVO, the second quarter was marked by a market slowdown and a further decline in the euro exchange rate. Therefore, we used this time to work intensively on long-term projects in order to lay the strongest possible foundations for the second half of the year, in which we expect the industry to recover.
The exact financial results achieved by GAMIVO in the second quarter of 2023 are available in the report published on August 14, 2023. They are presented as follows:
- – Turnover: PLN 42 million,
- – Revenue: PLN 10.5 million,
- – Net profit: PLN 1.5 million,
- – EBITDA: PLN 2.4 million.
“Admittedly, we cannot boast growth this time, but we have proven once again that we have built a stable and healthy business. The mechanisms we have developed allow us to achieve good results even when the market is deprived of the big AAA releases that drive it. We can see that the market is returning to its pre-pandemic state, which should make it more predictable, allowing us to plan further activities better,” explains Mateusz Śmieżewski, president of GAMIVO.
Premieres are not the only factor influencing results. GAMIVO records its revenues in euros, and the exchange rate of the European currency against the zloty has weakened significantly in recent months, which translates into the amount of consolidated results presented in zlotys. The company anticipated these factors and therefore made a strategic decision in the second quarter to focus on long-term projects to be ready when the market breaks out of its lethargy.
“Over the past year, we have continually raised the bar for ourselves, achieving better and better results from quarter to quarter. This time, we had to answer a key question – whether to try to chase another record at all costs or to focus resources and efforts on long-term projects. That is why we invested in the future,” explains Mateusz Smieżewski.
These investments in the future include a major overhaul of the shopping process focused on increasing conversions and improving UI and UX.
“The first implementations are already behind us, but this is only the beginning. The main changes, the result of months of analysis and testing, will be introduced in the second half of the year,” reveals GAMIVO’s CEO.
Another investment in the future is the development of the API, which allows the integration of the GAMIVO platform with external shops. Finally, the company has also set its sights firmly on affiliate networks and the emergence of new markets. This is also supported by successful marketing collaborations with large brands – including Żabka, Wargaming, Coca-Cola, and PayPal. The company is thus increasing its customer base, its visibility in other markets, and making valuable contacts. Users truly appreciate these partnerships. GAMIVO has recorded another milestone on its growth path, increasing its registered user base to as many as 5 million.
“We believe that all these activities will pay off in the future, translating into an increase in the number of users, conversions, and a decrease in the cost of customer acquisition,” says Mateusz Śmieżewski.
In addition, the second half of the year promises to be very intense and players are eagerly waiting for new and high-profile titles that will certainly translate into business. These include Mortal Kombat 1, Starfield, Assassin’s Creed Mirage, Alan Wake II, or the successor to the FIFA series – EA Sports FC 24. A significant revival on the market can be expected especially in September, when a lot of premieres of productions from the AAA segment are planned.
