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MESSAGE _ENGLISH VERSION_
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Impairment tests for shares in a subsidiary Game On Creative, Inc.The
Management Board of PCF Group S.A., with its registered office in Warsaw
_the "Issuer", "Company"_, announces that, in the course of preparing
the consolidated quarterly report of the PCF Group S.A. Capital Group
_the "Group"_ for the first quarter of 2026, following an analysis of
the updated five-year business plan of Game On Creative Inc., with its
registered office in Montreal, Canada _the "Subsidiary"_, prepared by
the Subsidiary on 26 May 2026, the Issuer's Management Board decided to
recognize, as of 31 March 2026, the following impairment charges on
assets:
1_ an impairment charge equal to 100% of the value of the Company's
investments in its subsidiaries, relating to the Company's stake in the
Subsidiary, which will reduce the Company's standalone financial result
for the first quarter of 2026 and a reduction in the value of
non-current assets presented in the Company's standalone balance sheet
as of 31 March 2026, by PLN 25,369 thousand;
2_ an impairment charge equal to 100% of the goodwill allocated to the
Subsidiary as a cash-generating unit, which will result in a decrease in
the consolidated financial result for the first quarter of 2026 and a
reduction in the value of fixed assets presented in the Group's
consolidated balance sheet as of 31 March 2026, by PLN 24,929 thousand.
The recognition of these impairment charges is non-cash in nature and a
one-time event.
The Company's Management Board reserves the right to adjust, in whole or
in part, the impairment charge on the Company's investments in its
subsidiaries relating to the Company's equity interest in the
Subsidiary, in the event of a favorable change in the circumstances that
gave rise to the impairment.
The recognition of an impairment loss on the goodwill allocated to the
Subsidiary as a cash-generating unit is irreversible.
In addition, in connection with the preparation of the Group's
consolidated quarterly report for the first quarter of 2026, the
Issuer's Management Board is providing selected estimated:
1_ consolidated results of the Group for the first quarter of 2026:
_i_ revenue: PLN 45,566 thousand compared to PLN 62,992 thousand for the
first quarter of 2025;
_ii_ gross profit: PLN 13,726 thousand compared to PLN 9,492 thousand
for the first quarter of 2025;
_iii_ operating loss: PLN 20,854 thousand compared to PLN 4,321 thousand
for the first quarter of 2025; and
_iv_ EBITDA: PLN 8,375 thousand compared to PLN 1,680 thousand for the
first quarter of 2025;
2_ standalone results of the Company for the first quarter of 2026:
_i_ revenue: PLN 41,850 thousand compared to PLN 50,158 thousand for the
first quarter of 2025;
_ii_ gross profit of PLN 4,943 thousand compared to PLN gross loss of
3,286 thousand for the first quarter of 2025;
_iii_ operating profit of PLN 251 thousand compared to opaerating loss
of PLN 10,131 thousand for the first quarter of 2025; and
_iv_ EBITDA: PLN 2,472 thousand compared to PLN -5,698 thousand for the
first quarter of 2025.
The financial data presented above are estimates and they are subject to
change within the ongoing work on the consolidated financial statements
for the first quarter of 2026. The final figures for the above financial
metrics and the impairment charge will be presented in the consolidated
financial statements for the first quarter of 2026, unless disclosure at
an earlier date is required by law.
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RB: Testy na utratę wartości udziałów w spółce zależnej Game On Creative, Inc.
