Remedy FY2020 Financial Review

Key insights

6 takeaways

01
Remedy Entertainment achieved 41.1 million euros in revenue for 2020, a 30% year-over-year increase, with an operating profit of 13.2 million euros (32% margin).See it on page 4
02
Financial growth was primarily driven by the commercial performance of the game Control and new publishing agreements established with Epic Games.See it on page 28
03
The company managed five distinct game projects across four franchises in 2020, while expanding its internal workforce to 275 employees supported by 31 external partners.See it on page 18
04
Strategic objectives for 2021–2025 include owning at least three expanding game brands and delivering at least one major hit.See it on page 24
05
Management utilizes a diversified business model involving self-publishing, partner-funded development, and work-for-hire contracts to balance risk.See it on page 29
06
The company projects continued revenue and operating profit growth for 2021, with significant gains expected in the second half of the year as titles like those in the Crossfire franchise launch.See it on page 33

Summary

The 2020 financial review for Remedy Entertainment highlights a period of significant fiscal growth and strategic expansion. The company reported revenue of 41.1 million euros, representing a 30% increase over the previous year, with an operating profit of 13.2 million euros, or 32% of total revenue. This performance was driven primarily by the continued commercial success of the title Control and new publishing agreements with Epic Games. The company maintained a stable operational environment throughout the year, noting that the global pandemic had no significant negative impact on its development cycles or financial health.

The company’s operational scope during 2020 involved managing five distinct game projects across four franchises, including collaborations with Smilegate and Epic Games. A core component of the strategy involved expanding the reach of existing intellectual property through new platforms, subscription services, and cloud gaming, while simultaneously investing in long-term development projects like the free-to-play title Vanguard. By the end of the year, the company had grown its internal workforce to 275 employees across 30 nationalities, supported by a network of 31 external development partners.

Looking toward the 2021–2025 period, the company aims to establish itself as a premier multi-project developer by owning at least three expanding game brands and delivering at least one major hit. The strategic roadmap emphasizes a balanced approach to risk, utilizing a mix of self-publishing, partner-funded development, and work-for-hire contracts. Management expects continued growth in both revenue and operating profit for 2021, with the majority of gains anticipated in the second half of the year as upcoming titles, including those within the Crossfire franchise, reach the market.