JoWood is Deep in the Red

Published: December 17, 2010; 03:01 · (Vindobona)

The Vienna game developer has to accept a loss of over € 25m in the first three quarters. Sales have fallen sharply.

JoWood is Deep in the Red / Picture: © JoWooD

Gross sales revenue over the first nine months of fiscal 2010 amounted to € 8.16m (previous year: € 18.627m) and € 3.66m (previous year: € 6.404m) for the third quarter of 2010.

In the third quarter the company focused, mainly on the for October 12, 2010 scheduled release of this year's top title "ArcaniA - Gothic 4 " and restricted the  resources owing to capacity for marketing of the remaining game titles to a minimum.

The manufacturing cost corresponding to the sales of goods sold in the first nine months amounted to € -5.54m, (previous year: €-8.20m) and for the third quarter of 2010, € -0.86m (previous year: €-3.04m).

The financial results as of 09.30.2010 amounts to € -7.07m. There is, as already reported in the financial report for the first half-year 2010, a write-off in the value of the goodwill of the subsidiary DreamCatcher Inc. concerning its subsidiary JoWooD Iberica SL (shut down) for a total of € -8.64m. The financial results for the third quarter of 2010 amount to € -0.22m, at the same level of the previous year (€-0.22m).

The net result from January to September 2010 amounted to € -25.05m, (previous year: € 0.967m) and € -1.04m for the third quarter 2010 (previous year: € 0.13m).

On the reporting date September 30, 2010 the number of employees and outsourced workers for the group was 88 (2009: 90).