Team behind hit Ultimate Fishing Simulator, Ultimate Games, moves to Warsaw Stock Exchange
After a surge in income and market valuation, Ultimate Games is moving from the NewConnect market to the Main Market on the Warsaw Stock Exchange.
The Warsaw based video game producer and distributor only debuted on the NewConnect market a little over a year ago, 15th June 2018.
The value of their shares has increased by over 185 percent in the last year and the increase in market value is exceeded by the increase in their revenues.
In 2016 their revenue was only 112,600 PLN but in 2017 that had risen to 1,261,141 PLN and again in 2018 the revenue made a massive jump to 4,536,000 PLN.
The increase of over 4.4 million PLN in revenue in only two years is part of the reason for investors flocking to the company.
Ultimate Games has a simple strategy of production and distribution of large amounts of low-budget and high margin games.
Their top game "Ultimate Fishing Simulator" is frequently ranked among the top ten in its category and generated about 39 percent of the company’s revenue in 2018.
‘Grave Keeper’, another highly rated game will be released on new devices early in August.
The company has over 110 new releases scheduled through 2020 including two licensed games of Discovery channel TV shows. They will release ‘The Deadliest Catch Game’ in the second half of 2019 and a ‘Naked and Afraid Game’ in 2020.
Currently producing games for the PC and Switch formats, the company is looking to expand to offer more on the mobile gaming market and is promising to offer games on the PS4 and Xbox One X consoles soon.
“We keep the budgets low, even for our largest productions, the most we spend is several hundred thousand PLN,” Mateusz Zawadzki, President of Ultimate Games told PAP Biznes.
He added: “I do not rule out that the next versions of these games will be more expensive, this is due to the fact that developers pay expectations are growing.”
PlayWay, another Polish video games producer, owns 48 percent of Ultimate Games stock.