Remedy Entertainment achieved a 49.3% revenue increase to €50.7 million in 2024, driven by development fees for the Max Payne 1 & 2 remake and the commercial success of Alan Wake 2.
02
Alan Wake 2 surpassed two million units sold, successfully recouping all associated development and marketing costs.
03
The company is aggressively transitioning to a self-publishing model, supported by the acquisition of full Control franchise rights and a partnership with Annapurna Pictures to launch FBC: Firebreak in 2025.
04
Financial performance showed mixed results with EBITDA reaching €2.5 million (5.0% of revenue), while operating profit remained at a negative €4.3 million.
05
Operational cash flow improved to €12.3 million, bolstered by enhanced working-capital management and a €15 million convertible loan from Tencent.
06
Management has set long-term targets to double revenue and achieve a 30% EBITDA margin by 2027, opting to withhold 2024 dividends to fund these strategic initiatives.
Insights
01
Remedy Entertainment achieved a 49.3% revenue increase to €50.7 million in 2024, driven by development fees for the Max Payne 1 & 2 remake and the commercial success of Alan Wake 2.
02
Alan Wake 2 surpassed two million units sold, successfully recouping all associated development and marketing costs.
03
The company is aggressively transitioning to a self-publishing model, supported by the acquisition of full Control franchise rights and a partnership with Annapurna Pictures to launch FBC: Firebreak in 2025.
04
Financial performance showed mixed results with EBITDA reaching €2.5 million (5.0% of revenue), while operating profit remained at a negative €4.3 million.
05
Operational cash flow improved to €12.3 million, bolstered by enhanced working-capital management and a €15 million convertible loan from Tencent.
06
Management has set long-term targets to double revenue and achieve a 30% EBITDA margin by 2027, opting to withhold 2024 dividends to fund these strategic initiatives.