Puolivuosikatsaus 1.1.–30.6.2019: Remedy Entertainment

Remedy Entertainment’s interim report for the first half of 2019 highlights a period of significant operational growth and strategic transition. The company’s primary objective during this timeframe was the finalization of its major title, Control, while simultaneously advancing its multi-project development strategy. The report confirms a shift toward a more consistent release schedule, supported by a refined organizational structure and the expansion of the executive leadership team.

Financial performance showed substantial improvement compared to the same period in 2018. Revenue increased by 49.6% to 13.8 million euros, driven largely by development fees from the Control and Crossfire projects. Operating profit (EBIT) reached 1.5 million euros, or 10.6% of revenue, compared to a loss of 0.4 million euros in the previous year. This profitability was bolstered by a 2.5 million euro one-time royalty payment related to the recovery of publishing rights for the Alan Wake franchise, alongside a 0.4 million euro positive impact from the newly adopted policy of capitalizing certain product development costs.

The company’s scope remains focused on high-quality, narrative-driven action games, with operations centered in Finland. As of June 30, 2019, the workforce grew to 220 employees, reflecting an investment in talent to support multiple concurrent projects. The company maintains a strong cash position of 21.0 million euros, providing a stable foundation for its long-term growth strategy. Looking ahead, the company expects both revenue and operating profit to grow throughout 2019, with the commercial performance of the August 2019 release of Control serving as a critical factor for the second half of the year. The report adheres to Finnish Accounting Standards (FAS) and provides a comprehensive overview of the company’s financial health, governance, and project development status.