Remedy Entertainment Financial Statements Release 2021

Key insights

6 takeaways

01
Remedy Entertainment generated 44.7 million euros in annual revenue in 2021, an 8.9 percent increase, resulting in an operating profit of 14.7 million euros.See it on page 1
02
The company raised 41.5 million euros in capital and ended the year with 51.4 million euros in cash and cash equivalents to fund a pipeline of titles scheduled for release between 2023 and 2025.See it on page 6
03
Strategic partnerships were established with Tencent and 505 Games to support the company’s expanded development pipeline.See it on page 3
04
The workforce grew to 294 employees across 31 nationalities, supported by long-term, share-based incentive plans aimed at talent retention.See it on page 6
05
Shareholders received a dividend distribution of 0.15 euros per share for the 2021 fiscal year.See it on page 11
06
Management is preparing for a 2022 transition from the Nasdaq First North Growth Market to the Nasdaq Helsinki official list.See it on page 3

Summary

Remedy Entertainment achieved robust financial growth throughout 2021, characterized by an 8.9 percent increase in annual revenue to 44.7 million euros and a solid operating profit of 14.7 million euros. This performance was bolstered by a strategic expansion of the company’s development pipeline, facilitated by new partnerships with Tencent and 505 Games. These collaborations, alongside a successful capital raise of 41.5 million euros, have positioned the firm to support an ambitious release schedule for multiple titles slated for launch between 2023 and 2025.

Operational capacity grew in tandem with financial results, as the company expanded its workforce to 294 employees representing 31 nationalities. This period of growth was accompanied by a commitment to shareholder value, evidenced by a dividend distribution of 0.15 euros per share and the implementation of long-term, share-based incentive plans designed to retain key talent. By the close of the year, the company maintained a strong liquidity position with 51.4 million euros in cash and cash equivalents, providing a stable foundation for future development cycles.

Looking ahead, the company is preparing for a transition from the Nasdaq First North Growth Market to the Nasdaq Helsinki official list in 2022. While the outlook remains positive, management continues to monitor inherent industry risks, specifically those concerning project delivery timelines, the commercial performance of upcoming titles, and the ongoing challenge of talent retention in a competitive global market. These factors remain central to the company’s long-term strategy as it scales its operations and transitions toward a more prominent position on the public exchange.