Remedy Entertainment Financial Statements Release 2020

Key insights

6 takeaways

01
Remedy Entertainment achieved record financial growth in 2020, with revenue increasing 29.8% to 41.1 million euros and operating profit surging 103% to 13.2 million euros.See it on page 1
02
Comparable EBIT rose significantly to 8.1 million euros, up from 2.6 million euros in the previous year, supported by 11.8 million euros in cash flow from operations.See it on page 11
03
The company's financial performance was driven by the sustained commercial success of the title Control and the establishment of new strategic development partnerships with Epic Games.See it on page 1
04
Management transitioned to a 2021–2025 strategic framework focused on a multi-project development model and the expansion of its intellectual property portfolio.See it on page 3
05
The workforce grew by 9% to 271 employees by the end of 2020 to support long-term scaling and development objectives.See it on page 3
06
Shareholders' equity increased to 35.4 million euros, with management proposing a dividend of 0.15 euros per share for the fiscal year.See it on page 12

Summary

Remedy Entertainment achieved record-breaking financial results in 2020, characterized by a 29.8 percent revenue increase to 41.1 million euros and a substantial 103 percent surge in operating profit, which reached 13.2 million euros. This performance was underpinned by the sustained commercial success of the title Control and the establishment of strategic development partnerships with Epic Games. The company’s financial health was further evidenced by a rise in comparable EBIT to 8.1 million euros, up from 2.6 million euros in the previous year, alongside an increase in shareholders' equity to 35.4 million euros and cash flow from operations totaling 11.8 million euros.

The organization successfully transitioned into a new 2021–2025 strategic framework, prioritizing long-term growth through a multi-project development model and the expansion of its intellectual property portfolio. To support these objectives, the company grew its workforce by 9 percent, reaching 271 employees by the end of the year. Management maintained a commitment to shareholder returns by proposing a dividend of 0.15 euros per share and continuing various long-term incentive option plans for staff.

Despite these gains, the company remains cognizant of inherent industry risks, specifically those involving the complexities of game development, the unpredictability of commercial market reception, and the ongoing necessity of talent retention. By strengthening its organizational foundation and diversifying its project pipeline, the firm aims to mitigate these challenges while capitalizing on its current momentum. These results reflect a pivotal year of scaling operations and securing a robust financial position within the global interactive entertainment sector.