Founded six years ago by an 18-year-old high school student and her father, SimFabric, a gaming company, has just debuted on the main floor of the Warsaw Stock Exchange (GPW). After a two-year stay on the NewConnect market, the company was valued in the prospectus at PLN 68 million. It produces games, among other things, and a recently received grant of PLN 25 million will allow it to build a state-of-the-art research and development centre.
SimFabric was founded in 2016 after Julia Leszczyńska and her father Emil Leszczyński won a European Space Agency (ESA) competition to create an app that would depict all of the agency’s missions.
“After I won, I founded the company on the recommendation of the ESA. I was 18 years old at the time. Two years ago, we debuted on NewConnect, and today we see ourselves on the main floor of the Warsaw Stock Exchange,” Julia Leszczyńska, CEO of SimFabric S.A., says.
Computer games have been present in her life actually since kindergarten.
“I made my first one when I was 5 years old. I went to my dad, with whom we now work together in the company, and asked how games are made. And he (because he’s more of a practitioner than a theorist) said: ‘come on, we’ll create it together.’ That’s how I learned how much work it is. But I also fell in love with it. This passion, this love continues to this day,” Julia Leszczyńska says.
SimFabric S.A.’s main business is game development, but as CEO Leszczyńska emphasizes, in addition to its productions, the company is also involved in game porting (remaking versions of games or simulators from one platform to another).
“Last year, we also launched two subsidiaries, MobileFabric which develops mobile games and VRFabric which produces games for virtual reality headsets,” Julia Leszczyńska says.
The company has also recently received two grants that will allow it to develop in international markets. The first, obtained from the Ministry of Development and Technology, amounts to PLN 25 million. With it, SimFabric will build a state-of-the-art research and development centre.
“We will conduct research there on a simulator that can be applied to games, but it will also be a virtual laboratory for, among other things, the ESA Moon Village space mission,” Emil Leszczyński, chairman of SimFabric S.A.’s Supervisory Board, says.
But that’s not all. The centre will also conduct research on artificial intelligence and the possibility of using it for game production.
“We want to study to what extent artificial intelligence will be able to create games, games, new types of entertainment,” Emil Leszczyński says. With this, the company wants to win contracts with the world’s largest gaming companies and beyond.
“The second important task for the company, since its debut, is to implement blockchain technology in games, in a play-to-earn model. This, in turn, will be the gateway to the use of modern blockchain technology under a grant we received from the Swiss Dfinity Foundation. There, we will have access to an entire ecosystem of digital goods distribution of the size of $10 billion,” Leszczyński says.
SimFabric S.A is already the 20th gaming company whose shares are listed on the WSE’s Main Market.
“This is a sector that has been growing rapidly for a long time and is very attractive to investors. We hope it will continue to do so because it doesn’t seem that the industry is threatened by anything,” Agnieszka Gontarek, Director of GPW’s Listing Department, comments.
The GPW’s representative recalled that SimFabric had begun its adventure with the public market in 2020 when it debuted on NewConnect.
“NewConnect, as an alternative trading system operated by the Warsaw Stock Exchange, is celebrating its 15th anniversary this year, and SimFabric is already the 79th company to mature in this market, having developed enough to become a listed company with a presence on a major trading floor,” Director Agnieszka Gontarek stressed.
In the second quarter of 2022, SimFabric S.A. generated PLN 2.4 million in revenue, PLN 1.4 million in EBITDA and PLN 1 million in net profit. Its value at the current exchange rate is currently valued at PLN 94 million.
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