Remedy Entertainment Financial Statement Bulletin 2022

The 2022 financial statement for Remedy Entertainment outlines a transitional year characterized by strategic investment in long-term growth and a shift toward a co-publishing business model. The company’s primary objective remains the development of a balanced portfolio of single-player and service-based multiplayer games, supported by a strong cash position and a growing talent pool. By the end of 2022, the studio had five active game projects in development, including the remake of the Max Payne series and the co-development of Control 2.

Financial performance for the fiscal year 2022 showed revenue of 43.6 million euros, a slight decrease of 2.5% compared to the previous year. Operating profit fell to -0.6 million euros, down from 11.4 million euros in 2021, reflecting the company’s deliberate decision to increase internal investments in game development and project financing. While the fourth quarter saw a more pronounced revenue decline of 31.2% year-over-year, the company maintained a robust cash position, enabling continued expansion of its development capabilities and the establishment of a new studio in Stockholm.

The company’s methodology focuses on scaling its multi-project organization and strengthening its position in the value chain by transitioning from a pure development studio to a co-publisher. Despite the competitive labor market, the firm successfully increased its headcount to 366 employees by year-end. Looking ahead to 2023, the company anticipates a further decline in revenue and a negative operating result as it continues to prioritize long-term brand ownership and the development of high-potential intellectual properties over short-term profitability. The long-term strategy remains centered on creating at least one major hit game and owning three expanding game brands.