Remedy Entertainment Half-Year Review: 1 January - 30 June 2020

Key insights

6 takeaways

01
Remedy Entertainment achieved a 23 percent revenue increase to 17.0 million euros and an operating profit of 3.2 million euros during the first half of 2020.See it on page 1
02
The company secured a publishing partnership with Epic Games that provides full funding for two upcoming multi-platform titles while allowing Remedy to retain full intellectual property ownership.See it on page 2
03
The studio grew its workforce by 21 percent during the first half of 2020, reaching a total of 266 employees by the end of June.See it on page 6
04
Financial performance was primarily driven by the sustained commercial success of the title Control and the implementation of new share-related programs to increase capital flexibility.See it on page 2
05
As of August 2020, ownership remained concentrated with the ten largest shareholders controlling 45.5 percent of the company, led by Accendo Capital SICAV, SIF with a 19.3 percent stake.See it on page 13
06
The organization successfully maintained project timelines and operational continuity despite the disruptions caused by the COVID-19 pandemic.See it on page 3

Summary

Remedy Entertainment demonstrated robust financial and operational growth during the first half of 2020, characterized by a 23 percent revenue increase to 17.0 million euros and an operating profit of 3.2 million euros. This performance was primarily driven by the sustained commercial success of the title Control and the strategic establishment of a publishing partnership with Epic Games. Under this agreement, the studio secures full intellectual property ownership for two upcoming multi-platform titles while benefiting from fully funded development costs, a move that strengthens the company’s long-term creative and financial independence.

The organization successfully navigated the operational disruptions of the COVID-19 pandemic, maintaining project timelines while expanding its workforce by 21 percent to reach 266 employees by the end of June. This human capital investment supports the studio’s core mission as a Finland-based developer specializing in narrative-driven gaming experiences and proprietary engine technology. To facilitate future growth and provide capital flexibility, the company implemented new share-related programs and maintained long-term incentive structures for its staff.

As of August 2020, the ownership structure remained concentrated, with the ten largest shareholders controlling 45.5 percent of the company. Accendo Capital SICAV, SIF emerged as the leading stakeholder with a 19.3 percent interest. By balancing aggressive hiring with disciplined financial management and strategic publishing alliances, the studio solidified its market position as a significant player in the global interactive entertainment industry, poised for continued development of its internal intellectual property portfolio.