Remedy Entertainment PLC Annual Report 2025

Remedy Entertainment’s 2025 fiscal performance marks a pivotal transition toward a self-publishing business model, aimed at capturing greater long-term value from its proprietary intellectual properties. By securing full rights to the Control franchise and balancing self-published titles with high-profile partner projects like the Max Payne remakes, the studio seeks to capitalize on a global gaming market that increasingly favors distinctive, narrative-driven experiences. This strategic shift is designed to foster a self-sustaining cycle of growth, with the company targeting a doubling of 2024 revenue and a 30% EBITDA margin by 2027.

Financial results for 2025 reflect both the potential and the volatility of this new direction. While the company achieved record revenue of €59.5 million—a 17.5% increase—and a positive EBITDA of €11.3 million, overall profitability was hampered by a negative EBIT of €14.9 million. This deficit was primarily driven by a significant write-down following the commercial underperformance of the self-published title FBC: Firebreak. Despite this setback, the studio maintains a robust development pipeline, anchored by the continued success of Alan Wake 2, which has surpassed 2 million units sold, and the ambitious development of the upcoming Control Resonant.

Operating within the global PC and console segments, the studio continues to scale its organizational capacity, ending the year with 387 employees. The long-term strategy relies on a disciplined, stage-gate development process and a commitment to transmedia expansion to maximize the reach of its core franchises. By prioritizing internal IP ownership and operational sustainability, the company aims to navigate the competitive landscape of the $188.8 billion global games market, positioning itself as a premier creator of high-quality, immersive entertainment.