The company said in a statement that sales of the game “Frostpunk 2” as of Monday at 8:00 a.m. had exceeded 350,000 units, and that total revenues exceeded the company’s costs of producing and marketing the game.
The company noted that the estimate includes deferred payments for the release of “Frostpunk 2” in the Game Pass service operated by Microsoft, as well as a portion of revenue from the sale of the Deluxe version of the game attributable to the three paid DLCs included in this version. Revenues from this source will be recognized in the future, along with the market premieres of subsequent DLCs.
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The game “Frostpunk 2” debuted on Friday at 7:00 PM on PC. The turnover on the company’s shares is around PLN 13 million, while for mWIG40 it is around PLN 19 million. On Friday, at closing, the company’s share price fell by 0.37 percent.
Market disappointed with the debut of the game “Frostpunk 2”
Michał Wojciechowski, an analyst at Ipopema Securities, negatively assessed the information from 11 bit. “Peak (of players – editorial note) was at the lower end of our expectations from Friday (35-40 thousand), but the weak reviews from players are the biggest surprise. We also note the poor viewership on Twitch and the currently falling positions in the sales ranking. We expect a strong negative market reaction today,” wrote Michał Wojciechowski.
“We have lowered our recommendation today to ‘sell from ‘hold’ with a new fair value of PLN 430. At this point, we expect ‘Frostpunk 2’ to sell fewer copies in its life cycle than the first part and 1.2 million copies in the 12 months from release (vs. 1.4 million for Frostpunk 1),” added the Ipopema Securities analyst.
Player ratings are also below Erste Bank analysts’ expectations.
This should cause a negative market reaction, a deterioration of sentiment around 11 bit and a decrease in confidence in the success of future launches of new games – wrote Piotr Bogusz in the morning report of Erste Bank.
“The launch of ‘Frostpunk 2′ did not meet our and investors’ expectations, which will have a negative impact on 11 bit’s share prices,” he added.
Piotr Bogusz believes, however, that despite the weaker-than-expected premiere of “Frostpunk 2”, the game should generate relatively high revenues.In our opinion, the game has the potential to generate sales in the long term. similarly as was the case with other 11-bit games,” wrote an Erste Bank analyst.
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