Remedy has published its financial results for the fiscal year, informing great growth in income and decreases in operational losses compared to the same period last year.
The report also included results for the three months ending in December 2024, during which Alan Wake 2 recovered its development costs, began to accumulate royalties and exceeded two million units sold.
This is what you need to know:
The numbers:
P4 2024
- Revenue: € 11.7 million (13.1%)
- Operational loss: 1.4 million euros (compared to the operational loss of € 12.8 million in 2023)
Fiscal Year 2024
- Revenue: € 33.9 million (49.3%)
- Operational loss: 4.3 million euros (compared to the operational loss of € 28.6 million in 2023)
The outstanding aspects:
Remedy attributed 49.3% of income for fiscal year2024 to the control development rates 2, which will be self-public, and the remake Max Payne 1 and 2 financed by Rockstar. The income was also generated by control royalties and Alan Wake remastered.
At the end of the fourth quarter, Alan Wake 2 had recovered its development and marketing costs. The game has also begun to generate royalties and has exceeded two million units sold since its launch in October 2023.
Remedy pointed out that the long -term success of Alan Wake 2 was the result of its two DLC, Night Springs and Lake House, and its physical launch last year.
The development of Alan Wake remastered were completely depreciated during this period, and they no longer count as an asset.
During the past year, Remedy has reached significant milestones, such as acquiring the rights of its 505 games control franchise and entering an association with Annapurna.
The latter saw Annapurna finance 50% of control 2, and obtained the rights to expand control franchises and Alan Wake in film and television.
The Remedy Association with Annapurna led to a cancellation of 3.4 million euros of the past development costs related to the control franchise as a unique expense.
Last September, Remedy received a loan of 15 million euros from Tencent to support the developer in the publication of their games.
Looking at its current game portfolio, FBC: Firebreak is in full production and will be the first self -edited title of Remedy. Control 2 entered full production at the end of the fourth quarter, while the remake Max Payne 1 and 2 is making “constant progress” in complete production.
“2024 was full of concrete actions that will allow future growth,” said the CEO of Remedy, Tero Virtala. “We were very happy to announce the strategic association with Annapurna in August, as well as the convertible loan of Tencent in September.
“With Annapurna, we can make our audiences grow even more and expand our franchises beyond the games, while Tencent financing supports our self -edition strategy.”
Virtala added: “We are in an excellent place to begin our 2025-2030 strategy period and we have established objectives, we trust to achieve. 2025 will mark the beginning of a new era of growth for us.
Looking towards the future, Remedy expects your income to increase compared to the previous year, and for your operational profits to be positive. An objective of duplicating its income from 2024 for 2027 “has been established with continuous growth beyond this milestone.”
