Haemimont Games
CompanyBulgaria · Founded 1997
Documents about Haemimont Games
Interim Report: January–March 2026
Paradox Interactive experienced a period of financial contraction during the first quarter of 2026, characterized by a 7 percent decline in revenue to MSEK 431.1 and a 31 percent reduction in operating profit, which fell to MSEK 100.8.
- Paradox Interactive reported a 7% revenue decline to MSEK 431.1 and a 31% drop in operating profit to MSEK 100.8 for Q1 2026.
- Financial performance was negatively impacted by significant amortization and write-downs related to the titles Vampire: The Masquerade - Bloodlines 2 and Europa Universalis V.
- Despite fiscal challenges, the company maintains a strong liquidity position with MSEK 308.7 in operating cash flow and MSEK 1,055 in cash and cash equivalents.
Annual Report 2025: Paradox Interactive
Paradox Interactive’s 2025 fiscal year was defined by a strategic pivot toward core internal development and long-term franchise sustainability.
- Operating profit dropped significantly to MSEK 146.0 in 2025 from MSEK 721.4 in 2024, primarily due to a KSEK 355,343 impairment charge related to Vampire: The Masquerade – Bloodlines 2.
- Annual revenue remained stable at MSEK 2,191.9, supported by a business model focused on digital distribution and continuous downloadable content for a six-million-strong monthly active user base.
- The company invested KSEK 917,407 in development during 2025 and completed the strategic acquisition of Haemimont Games to strengthen its management game portfolio.
Year-End Report: January – December 2025
Paradox Interactive experienced a period of significant financial volatility throughout 2025, characterized by stagnant revenue growth and a sharp contraction in profitability.
- Paradox Interactive’s annual operating profit fell sharply to MSEK 146.0 in 2025, down from MSEK 721.4 the previous year, while annual revenue remained stagnant at MSEK 2,191.9.
- The company recorded MSEK 355.3 in write-downs and amortization costs specifically tied to the development of Vampire: The Masquerade – Bloodlines 2.
- Paradox is pivoting its strategy to focus exclusively on internal development of deep strategy and management titles, abandoning projects outside of this core expertise.
Paradox Interactive Interim Report: January – September 2025
Paradox Interactive experienced a period of financial recalibration during the first nine months of 2025, characterized by a 12 percent year-over-year revenue decline to MSEK 1,317.2.
- Paradox Interactive reported a 12% year-over-year revenue decline to MSEK 1,317.2 for the first nine months of 2025, driven by a lighter release schedule and currency headwinds.
- Operating profit increased by 20% to MSEK 391.4, demonstrating improved operational efficiency despite the contraction in top-line revenue.
- Capitalized development expenses reached MSEK 1,738.2, highlighting a significant investment in the future pipeline, specifically the upcoming launch of Europa Universalis V.
Interim Report: January – June 2025
Paradox Interactive experienced a period of financial recalibration during the first half of 2025, characterized by a strategic shift toward long-term development and operational efficiency.
- Paradox Interactive reported a 53% increase in operating profit to MSEK 279.6 for H1 2025, driven by the absence of previous asset write-downs and steady DLC revenue from titles like Victoria 3 and Age of Wonders 4.
- Revenue declined by 13% for the first half of 2025 and 20% during the second quarter, reflecting a period of financial recalibration.
- The company maintains a strong financial position with an operating cash flow of 528.17 million KSEK and total equity of 2.61 billion KSEK as of June 30, 2025.
Paradox Interactive Interim Report: January - March 2025
Paradox Interactive maintained a stable financial foundation during the first quarter of 2025, despite experiencing minor year-over-year declines in performance.
- Paradox Interactive reported Q1 2025 revenue of MSEK 463.6 and an operating profit of MSEK 146.6, marking year-over-year declines of 4% and 5% respectively.
- The company is intentionally slowing its release cadence to focus on downloadable content for core titles like Cities: Skylines II and Hearts of Iron IV rather than new product launches.
- The firm maintains a strong balance sheet with MSEK 1,501.5 in cash and cash equivalents and an equity/assets ratio of 83%.
Annual Report 2024
Paradox Interactive’s 2024 fiscal year was defined by a strategic pivot toward core competencies, prioritizing the long-term development of its established strategy and management franchises on PC and console.
- Paradox Interactive reported a 17% decline in annual revenue to MSEK 2,200.9, primarily driven by the cancellation of the 'Life by You' project and a corresponding MSEK 208.0 write-down.
- Despite revenue declines, the company improved operational efficiency, resulting in an operating profit of MSEK 721.4 and an operating margin of 33%.
- The company maintains a strong financial position with an 82% equity/assets ratio, zero interest-bearing liabilities, and a cash reserve of MSEK 1,469.4.
Year-End Report: January–December 2024
Paradox Interactive’s year-end report for 2024 details a period of strategic transition characterized by improved profitability despite a decline in top-line revenue.
- Paradox Interactive reported a 17% decline in annual revenue to MSEK 2,200.9, yet achieved a 10% increase in operating profit to MSEK 721.4 due to reduced project write-downs and lower amortizations.
- The fourth quarter showed significant momentum with a 219% surge in operating profit to MSEK 395.3, bolstered by strong core title performance and a high volume of DLC releases.
- The company maintains a strong financial position with MSEK 1,469.4 in cash and an 82% equity/assets ratio, leading the Board to propose a total dividend of SEK 5.00 per share.
Annual Report and Accounts 2019: Frontier Developments
Frontier Developments achieved a period of transformative financial growth during the 2019 fiscal year, characterized by a shift toward a self-publishing model that yielded record-breaking results.
- Frontier Developments achieved record financial results in fiscal year 2019, with revenue increasing by over 160% to £89.7 million and operating profit reaching £19.4 million.
- Financial growth was primarily driven by the launch of Jurassic World Evolution and the continued performance of established titles Elite Dangerous and Planet Coaster.
- The company maintains a strong balance sheet with £35.3 million in net cash and total net assets of £71.7 million.
