DOCSLIB.ORG

New Remedians

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
New Remedians Remedy entertainment Pareto Securities’ Investor Call 18.5.2020 agenda 1 Market overview 2 Strategy & Remedy now 3 Financials and outlook Tero Virtala CEO Remedy in a nutshell • Video game company from Finland, • AAA console and PC games that expand founded in 1995. into long-lasting franchises. • 270 professionals, 27 nationalities, • Immersive worlds and stories with 1 studio based in Espoo, Finland. memorable characters. • Focused, highly polished action gameplay. 1996 2001 2003 2010 2012 2016 2019 Market overview 2019 Global games market: growth CONTINUES TOTAL MARKET $148.8Bn North America +7.2% YoY $38.4Bn +8.3% YoY Europe, Middle Asia-Pacific East & Africa $71.6Bn $33.4Bn +6.6% YoY +7.1% YoY PC $35.3Bn 24% CONSOLE $45.3Bn Latin +2.8% YoY 30% America +7.3% YoY $5.5Bn +8.8% YoY 2022 market estimated at $189.6Bn +8.1% CAGR MOBILE $68.2Bn 46% +9.7% YoY SOURCES: NEWZOO GLOBAL GAMES REPORT 2019 & OCTOBER 2019 UPDATE Market has developed favorably for us TOTAL MARKET GROWS $148.8Bn PlayStation 4 Demand grows for good +7.2% YoY 110 million units games and studios. CONSOLES & PC Xbox One With the ongoing industry 47 million units BIG consolidation, there are SCREEN fewer independent AAA GAMES for GAMERS HARDCORE studios. GAMERS Remedy has developed well to take CASUAL PLAYERS CASUAL 55 million units advantage of the growing and changing market. MOBILE & TABLET Remedy’s segmenting of the market Massive game services • broad feature-set, strong multiplayer- & long-term service AAA FREE-TO-PLAY approach BLOCKBUSTER SERVICES • for wide gamer audience GAME SERVICES • giant budgets Massive games AAA • broad feature-set BLOCKBUSTER • for wide gamer audience GAMES • large budgets Focused games • focused feature-set and scope, FOCUSED As the industry grows and distinctive theme / uniqueness AAA GAMES • for targeted core & hard-core changes, other smaller, audiences growing segments exist. • medium budgets BIG AA GAMES Unique smaller games INDIE for niche audiences • GAMES • small budgets $10 $50 $100 PRICE (OF THE FULL GAMING EXPERIENCE FOR THE CONSUMER) Strategy & remedy now 2019: first phase of the growth strategy successfully completed STRATEGIC PILLARS 2017–2018: BY THE END OF 2019 WE HAVE: 4 games in development, advancing well. Games that stand out in the market and expand Grown to 250 people + outsourcing + support functions 1 into long-term franchises Developed and released Control in 3 years. Operating on a Finalized one Crossfire project, working on second. 2 multi-project model Invested into own IPs, technology and ways of working. Stronger position Shown the first step of the aimed growth, profitably… 3 in the value chain …and maintained a good work atmosphere! Strategic pillars set in 2019 …that guide us for the next 2-3 years. 1 2 3 4 Longer-lasting games Strong business Professionally Empowered in engaging worlds. ownership managed teams and people. of our games. game development. • Supernatural 3rd-person action- • Average review Metascore 84/100. adventure game. • Game of the Year awards from a number of • Released in August 2019 on PlayStation 4, gaming media. Xbox One & PC. • Developed in 3 years with less than €30 • Game IP created and owned by Remedy. million. • Published by 505 Games. • Free Photo Mode and Expeditions updates released in October and December 2019. • Revenues based on development payments from the publisher and share • Two paid expansions to be released in 2020. of game sales net revenue. • Steady sales continue with a relatively high average sales price. • PR, marketing and sales activities continue. • Crossfire is one of the world’s most • Operation Frost single player campaign popular online first-person shooters (FPS): has been completed – Remedy's first FPS over 650M registered and 8.5M game. simultaneous players in 80 countries. • Remedy is working on a second Crossfire • Created and owned by Smilegate. project with Smilegate. • Remedy creates single-player experiences • Microsoft and Smilegate announced at E3 for Crossfire. 2019 that CrossfireX will launch on Xbox One during 2020. • Remedy revenues based on development payments from the publisher and potential • Crossfire X also includes Remedy’s single royalties. player campaign. unannounced 3rd project & vanguard • Unannounced third project is proceeding well with a team of 20 people. • Vanguard, the fourth project, has a team of 15 people. • The objective of Vanguard is to create a long-lasting service-based multiplayer game combined with selected Remedy features. We now have an internally playable first development version of the game. • Both projects have focused on concepting, market research, designing, building the technical foundation, prototyping, iterating and assessing the biggest risks to have the design and related production plans clear. • Both projects are proceeding to pre-production. • March 2020, we signed publishing • We had multiple concrete partnership agreements on the 3rd unannounced options. Believe that Epic Games was AAA project and a smaller project with the best for the games and Remedy. Epic Games. • Epic is strong in digital, and already has • For multiple gaming platforms. a global presence. • Epic will fully fund the development. • Aims to shake the publishing business. Has shown they can very successfully • Net revenues shared 50/50. build new business areas. • Remedy to retain IP ownership. • We are a key partner for them. FINANCIALLY, WE GOT A THIRD STRONG PILLAR 2020 Crossfire and Control revenues continue well. We added a third major pillar – and fourth smaller one. (Unannounced) WITH WITH WITH adaptable Game engine Specialized development tools • Core engine • World creation tools • Gameplay tools • Graphics engine • Content creation tools • Selected 3rd party tools • Game tech-modules • Storytelling tools Tailored pipelines & workflows Expert team • Data pipelines & • E.g. digital double • 40 specialist people management character & animation • Support & development power systems, asset library, • Tool & engine also to game teams. global illumination workflows Key Benefits of northlight • Tech & tools tailored to exact needs of our games. • Industry-leading graphics engine. • Focused developments that enable innovative gameplay. • World-class games done with small gameplay programmer teams. • Game teams get strong specialized support by discipline experts. • Additional way to attract world-class programmers to Remedy. Talented and motivated personnel 248 full-time employees 31.12.2019 50% 24% Finnish employees year-on-year growth 50% 258 26 nationalities headcount 14.2.2020 financials & outlook Financial development 35 35% Revenue (M€) EBIT % 31.6 30 30% 25 25% 24.1 % 20.1 20 20.6 % 20% 18.9 % 17.2 15.5 16.4 15 13.7 15% 11.9 10.5 11.7 % 10 9.8 % 10% 4.7 6.1 % 5 3.8 4.7 % 5% 2.4 % 3.0 % 1.7 % 0 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Key figures FAS, unaudited H2-2019 H2-2018 FY-2019* FY-2018* Revenue M€ Revenue, 1 000 € 17 846 10 922 31 645 20 146 Revenue growth, % 63.4% 23.3% 57.1% 17.3% EBIT, 1 000 € 5 073 997 6 534 609 31.6 % of revenue 28.4% 9.1% 20.6% 3.0% 57% Result for review period, 1 000 € 4 068 880 5 238 532 growth % of revenue 22.8% 8.1% 16.6% 2.6% Average headcount during review period 243 179 228 169 Result per share, € 0.337 0.073 0.434 0.044 EBIT M€ Balance sheet total, 1 000 € 35 896 28 261 Net cash, 1 000 € 15 876 20 089 Cash position, 1 000 € 19 550 23 028 6.5 Net gearing, % -60.2% -89.9% 21% of Equity ratio, % 73.5% 79.1% revenue Dividend proposal per share, € 0.11 0.10 * AUDITED FY2019 summary & outlook for 2020 • Revenue 31.6 (20.1) M€, +57%. • We expect our revenue and EBIT to grow during 2020. • Operating profit 6.5 (0.6) M€, 21% of revenue. • Majority of revenue and EBIT growth is estimated to materialize during H2-2020. • First phase of the growth strategy successfully completed. • We continue according to our long-term growth plans. • Control launched to a great reception, winning multiple awards. Post-launch sales • Our goal is to have consistent game have settled on a good level. Two paid releases, with an aim to launch at least one expansions to be released in 2020. game or game expansion annually. • Remedy’s single player campaign to be • Even though the launch of our next new released as part of CrossfireX in 2020. game brand will go beyond 2020, we expect 2020 to be a financially good year. • 3rd unannounced project and Vanguard are both preparing for pre-production. Thank you! Questions?.
Load more

Recommended publications
  • Balance Sheet Also Improves the Company’S Already Strong Position When Negotiating Publishing Contracts
    Remedy Entertainment Extensive report 4/2021 Atte Riikola +358 44 593 4500 [email protected] Inderes Corporate customer This report is a summary translation of the report “Kasvupelissä on vielä monta tasoa pelattavana” published on 04/08/2021 at 07:42 Remedy Extensive report 04/08/2021 at 07:40 Recommendation Several playable levels in the growth game R isk Accumulate Buy We reiterate our Accumulate recommendation and EUR 50.0 target price for Remedy. In 2019-2020, Remedy’s (previous Accumulate) strategy moved to a growth stage thanks to a successful ramp-up of a multi-project model and the Control game Accumulate launch, and in the new 2021-2025 strategy period the company plans to accelerate. Thanks to a multi-project model EUR 50.00 Reduce that has been built with controlled risks and is well-managed, as well as a strong financial position, Remedy’s (previous EUR 50.00) Sell preconditions for developing successful games are good. In addition, favorable market trends help the company grow Share price: Recommendation into a clearly larger game studio than currently over this decade. Due to the strongly progressing growth story we play 43.75 the long game when it comes to share valuation. High Low Video game company for a long-term portfolio Today, Remedy is a purebred profitable growth company. In 2017-2018, the company built the basis for its strategy and the successful ramp-up of the multi-project model has been visible in numbers since 2019 as strong earnings growth. In Key indicators 2020, Remedy’s revenue grew by 30% to EUR 41.1 million and the EBIT margin was 32%.
    [Show full text]
  • Redeye-Gaming-Guide-2020.Pdf
    REDEYE GAMING GUIDE 2020 GAMING GUIDE 2020 Senior REDEYE Redeye is the next generation equity research and investment banking company, specialized in life science and technology. We are the leading providers of corporate broking and corporate finance in these sectors. Our clients are innovative growth companies in the nordics and we use a unique rating model built on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the swedish financial authority (finansinspektionen). THE GAMING TEAM Johan Ekström Tomas Otterbeck Kristoffer Lindström Jonas Amnesten Head of Digital Senior Analyst Senior Analyst Analyst Entertainment Johan has a MSc in finance Tomas Otterbeck gained a Kristoffer Lindström has both Jonas Amnesten is an equity from Stockholm School of Master’s degree in Business a BSc and an MSc in Finance. analyst within Redeye’s tech- Economic and has studied and Economics at Stockholm He has previously worked as a nology team, with focus on e-commerce and marketing University. He also studied financial advisor, stockbroker the online gambling industry. at MBA Haas School of Busi- Computing and Systems and equity analyst at Swed- He holds a Master’s degree ness, University of California, Science at the KTH Royal bank. Kristoffer started to in Finance from Stockholm Berkeley. Johan has worked Institute of Technology. work for Redeye in early 2014, University, School of Business. as analyst and portfolio Tomas was previously respon- and today works as an equity He has more than 6 years’ manager at Swedbank Robur, sible for Redeye’s website for analyst covering companies experience from the online equity PM at Alfa Bank and six years, during which time in the tech sector with a focus gambling industry, working Gazprombank in Moscow he developed its blog and on the Gaming and Gambling in both Sweden and Malta as and as hedge fund PM at community and was editor industry.
    [Show full text]
  • Lighting the Way
    Remedy Entertainment Lighting the way. www.remedygames.com Autodesk® 3ds Max® Remedy Entertainment uses Autodesk® Autodesk® MotionBuilder® Autodesk® Mudbox™ software and workflow to help guide Alan Wake from darkness to light. We needed a faster way to process all our animations, so we built a one-click solution using MAXScript. It’s just so easy to write our own utilities in 3ds Max with MAXScript. You can more easily do things you simply cannot do in other software packages. —Henrik Enqvist Animation Programmer Remedy Entertainment Alan Wake. Image courtesy of Remedy Entertainment Ltd. Summary We made our lead character an everyday writer, and The poet John Milton once wrote that “long is the way, we tried to tap into basic human psychology about and hard, that out of darkness leads up to light.” Centuries darkness and light.” later, that sentiment seems equally appropriate when referring to Alan Wake, the latest video-game offering Overcoming Challenges from Finland-based Remedy Entertainment and “The biggest challenge we faced was creating a published by Microsoft Game Studios. Building on its compelling and believable story,” says Kai Auvinen, successful creation of both Max Payne and Max Payne 2: art team manager at Remedy. “Creating a fully realistic, The Fall of Max Payne, the Remedy team upped their dynamic environment was crucial to establishing the Autodesk ante on Alan Wake, using a combination of right mood, tone, and overall feel. While a typical Autodesk® 3ds Max®, Autodesk® MotionBuilder®, feature film might have a single story arc running and Autodesk® Mudbox™ software. through its couple of hours, a video game like Alan Wake needs to establish multiple storylines and Billed as a “psychological action thriller,” Alan Wake dramatic outcomes over what amounts to about 20 is definitely not your typical video game.
    [Show full text]
  • REGAIN CONTROL, in the SUPERNATURAL ACTION-ADVENTURE GAME from REMEDY ENTERTAINMENT and 505 GAMES, COMING in 2019 World Premiere
    REGAIN CONTROL, IN THE SUPERNATURAL ACTION-ADVENTURE GAME FROM REMEDY ENTERTAINMENT AND 505 GAMES, COMING IN 2019 World Premiere Trailer for Remedy’s “Most Ambitious Game Yet” Revealed at Sony E3 Conference Showcases Complex Sandbox-Style World CALABASAS, Calif. – June 11, 2018 – Internationally renowned developer Remedy Entertainment, Plc., along with its publishing partner 505 Games, have unveiled their highly anticipated game, previously known only by its codename, “P7.” From the creators of Max Payne and Alan Wake comes Control, a third-person action-adventure game combining Remedy’s trademark gunplay with supernatural abilities. Revealed for the first time at the official Sony PlayStation E3 media briefing in the worldwide exclusive debut of the first trailer, Control is set in a unique and ever-changing world that juxtaposes our familiar reality with the strange and unexplainable. Welcome to the Federal Bureau of Control: https://youtu.be/8ZrV2n9oHb4 After a secretive agency in New York is invaded by an otherworldly threat, players will take on the role of Jesse Faden, the new Director struggling to regain Control. This sandbox-style, gameplay- driven experience built on the proprietary Northlight engine challenges players to master a combination of supernatural abilities, modifiable loadouts and reactive environments while fighting through the deep and mysterious worlds Remedy is known and loved for. “Control represents a new exciting chapter for us, it redefines what a Remedy game is. It shows off our unique ability to build compelling worlds while providing a new player-driven way to experience them,” said Mikael Kasurinen, game director of Control. “A key focus for Remedy has been to provide more agency through gameplay and allow our audience to experience the story of the world at their own pace” “From our first meetings with Remedy we’ve been inspired by the vision and scope of Control, and we are proud to help them bring this game to life and get it into the hands of players,” said Neil Ralley, president of 505 Games.
    [Show full text]
  • GAMING GLOBAL a Report for British Council Nick Webber and Paul Long with Assistance from Oliver Williams and Jerome Turner
    GAMING GLOBAL A report for British Council Nick Webber and Paul Long with assistance from Oliver Williams and Jerome Turner I Executive Summary The Gaming Global report explores the games environment in: five EU countries, • Finland • France • Germany • Poland • UK three non-EU countries, • Brazil • Russia • Republic of Korea and one non-European region. • East Asia It takes a culturally-focused approach, offers examples of innovative work, and makes the case for British Council’s engagement with the games sector, both as an entertainment and leisure sector, and as a culturally-productive contributor to the arts. What does the international landscape for gaming look like? In economic terms, the international video games market was worth approximately $75.5 billion in 2013, and will grow to almost $103 billion by 2017. In the UK video games are the most valuable purchased entertainment market, outstripping cinema, recorded music and DVDs. UK developers make a significant contribution in many formats and spaces, as do developers across the EU. Beyond the EU, there are established industries in a number of countries (notably Japan, Korea, Australia, New Zealand) who access international markets, with new entrants such as China and Brazil moving in that direction. Video games are almost always categorised as part of the creative economy, situating them within the scope of investment and promotion by a number of governments. Many countries draw on UK models of policy, although different countries take games either more or less seriously in terms of their cultural significance. The games industry tends to receive innovation funding, with money available through focused programmes.
    [Show full text]
  • Justin Hwang STS145 March 18, 2002
    Justin Hwang STS145 March 18, 2002 Maximum Convergence “The technological line between video games and action movies has become so tenuous that even the nimble Lara Croft may have a hard time detecting it” – so reads a recent USA Today article (“Games, Movies Share”). Indeed, given the latest flurry of new action motion pictures based on computer and video games, it would appear as though we are headed for an ultimate convergence between the two media into a cataclysmic Big Bang giving birth to a new interactive medium. Coming from the other direction, as computer technology and graphics advance at an astonishingly rapid pace, we see computer and video games borrowing more from movies, incorporating such elements as flashy cinematography and wild camera angles, while game designers supplement atmosphere with original soundtracks and stronger narrative plots that bring more to games than just mindlessly blasting the opposition into a digital oblivion. Max Payne, designed by Remedy Entertainment, is one such game featuring all of the above elements and appearing at the forefront of this seemingly unavoidable collision. Serving as a springboard for the future of entertainment media, Max Payne might appear to symbolize the upcoming conglomeration of two massive multi-billion dollar industries, signifying a revolution in the entertainment industry, as well as new radical changes in how society interacts with its cultural media. The consequences of such a revolution are staggering. However, we are not heading toward an age where there will be no distinction between video games and movies, but rather, both media will continue to thrive together, existing in a symbiotic relationship where both forms ultimately remain unique and distinct yet intertwined and interdependent upon each other.
    [Show full text]
  • Complete List of Migs16 Attending Companies
    COMPLETE LIST OF MIGS16 ATTENDING COMPANIES MONTREAL INTERNATIONAL GAME SUMMIT 14TH EDITION DECEMBER 11-12-13 2017 YOUR ACCESS TO EXPERTS MONTREAL INTERNATIONAL GAME SUMMIT 14TH EDITION DECEMBER 11-12-13 2017 11 bit Studios AMJ 12 Hit Combo! Annex Pro 1E Avenue Music Antre du Geek 1One AOne Games 1st Playable Productions APEX Sciences 24h Appcoach 4AM Games Apple 51HiTech Applicant 5th Wall Agency Appodeal 8D Technologies Aptitude X 98,5FM Armoires Cuisines Action A Thinking Ape Around The Word Accenture Around the Word Canada Achimostawinan Games Artesium Studios ACTRA Montreal Artifact 5 ad Communications Artisan Studios, Inc. AdColony ASTUCEMEDIA Adult Swim Audible reality Advanced Micro Devices Audiokinetic ADVANTAGE AUSTRIA Autodesk Affordance Studio Avalanche Prod - HUB MTL AJL Consult Axis Animation Alexis Senecal Azurtek Algonquin College B&H Alice & Smith Babel Games Services Aline Mercy Babel Media Allegorithmic Bandai Namco Entertainment Alliance Numérique Bandai Namco Entertainment Alpha vision Banner & Witcoff AltKey BareHand Always Mind Studios Baton Rouge Area Chamber Amazon Lumberyard BDC Ameo Prod, Inc BDC Capital MONTREAL INTERNATIONAL GAME SUMMIT 14TH EDITION DECEMBER 11-12-13 2017 BDO Canadian Heritage Beenox Canadian Museum of History Behaviour Interactif Inc. Cangrejo Ideas SpA Bell Canoë Ben Salerno Design Canvasseuse Bentomiso CARA Berzerk Studio Cardboard Utopia Bethesda Studios Montreal Cardboard-Utopia Big Jack’s Factory, Inc. Castle Couch Big Studios Inc CC2 Big Viking Games CCNB Miramichi Bigben Interactive CCP Games BioWare (a division of Electronics Arts) CD Projekt S.A. Bishop Games CDI College bitHeads/brainCloud CDRIN Bkom Studios Cégep de Limoilou Black Tie Ventures Cégep de l’Outaouais Blacknut Cégep de Matane Blind Ferret Cégep de Sainte-Foy Blobstone CEIM blogcritics.org Centre Phi Bloober Team CFPR BNC CGMagazine Borden Ladner Gervais LLP Chamber of Commerce of Metropolitan Mon- brainCloud tréal Breaking Walls Champlain College Brookfield Global Relocation Services Chartboost, Inc.
    [Show full text]
  • FGIR-2018-Report.Pdf
    FRONT COVER Fingersoft • Hill Climb Racing 2 Futureplay • Battlelands Royale Next Games • The Walking Dead: Our World Rovio Entertainment • Angry Birds 2 Small Giant Games • Empires & Puzzles Supercell • Brawl Stars, Clash Royale, Clash of Clans and Hay Day BACK COVER Remedy Entertainment • Control Housemarque • Stormdivers SecretExit • Zen Bound 2 Rival Games • Thief of Thieves: Season One Superplus Games • Hills of Steel Critical Force • Critical Ops Frogmind • Badland Brawl Nitro Games • Heroes of Warland Kukouri Mobile Entertainment • Pixel Worlds Tree Men Games • PAKO Forever Publisher Neogames Finland ry (2019) Index 1. Introduction 2. The History of the Finnish Game Industry - From Telmac to Apple 3. The State of the Finnish Game Industry 4. Studios 5. Location of Companies and Clusters 6. Platforms 7. Developers & Diversity 8. Financial Outlook 9. Challenges and Strengths of the Finnish Game Industry 10. Trends and the Future 11. The Industry Support and Networks 12. Education 13. Regional Support 14. Studio Profiles Picture: Seriously | Best Fiends 3 ABOUT THIS REPORT Neogames Finland has been augmented by data from other sources. monitoring the progress of the Finnish This study is a continuation of similar Game Industry since 2003. During these studies conducted in 2004, 2008, 2010, fifteen years almost everything in the 2014 and 2016. industry has changed; platforms, Over 70 Game companies, members technologies, the business environment of Suomen Pelinkehittäjät ry (Finnish and games themselves. However, the Game Developers Association) are biggest change has taken place in the introduced on the company profile industry’s level of professionalism. pages as well as Business Finland and These days the level of professionalism the most relevant game industry in even a small start-up is on a level organizations and regional clusters.
    [Show full text]
  • Insight Into Our Commercial Operations Johannes Paloheimo – Chief Commercial Officer Our Commercial Focus So Far
    REMEDY IS STRONGER THAN EVER BEFORE Insight into our commercial operations Johannes Paloheimo – Chief Commercial Officer Our commercial focus so far Forming the Competences Align our Building right business to support our games with a strong partnerships games to market and foundation for succeed and player needs, the future fulfill their to reach wider business audiences potential THE RIGHT PARTNERS FOR EACH GAME Build long term business partnerships that are purposefully selected to best fit Remedy’s overall strategy MARKETING PARTNERSHIPS PUBLISHING AND DEVELOPMENT PARTNERSHIPS Building competences to ensure success REMEDY PUBLISHING TEAM public relations communications video production media relations marketing marketing art internal comms business development product management previews & demos contract negotiations user testing press & small events business case development data & analytics community management campaign planning market research influencer management advertising forecasting 9 people working with game teams, finance, publishers and commercial partners Aligning with BUSINESS, MARKET AND PLAYER NEEDS REMEDY PUBLISHING GAME TEAMS Support publishing partners commercializing our games EXTERNAL PUBLISHER GAME MARKET Work closely with game teams to become more player and PRODUCT DIRECTOR market informed through market (REMEDY PUBLISHING) research and consumer studies Forecasting, building business cases, identifying new RMD FINANCE business opportunities, funding alternatives Commercial overview of our games Games we are working on 2 UNANNOUNCED PROJECTS WITH WITH WITH Control header slide FULFILLING THE BUSINESS POTENTIAL OF CONTROL STEADILY GROWING TAKING ADVANTAGE OF DIGITAL THE OVERALL AWARENESS MARKET OPPORTUNITIES • Through promotions and new • Active post launch lifecycle content launches management, by having a good • Targeted campaigns and cadence of promotions and leveraging marketing partnerships discounts.
    [Show full text]
  • Digital Bros Signs Co-Publishing and Development Agreement with Remedy Entertainment for Spin-Off Videogame of the Award-Winning Control
    DIGITAL BROS SIGNS CO-PUBLISHING AND DEVELOPMENT AGREEMENT WITH REMEDY ENTERTAINMENT FOR SPIN-OFF VIDEOGAME OF THE AWARD-WINNING CONTROL Collaboration terms for a future high budget Control-game also outlined Milan – June 29th, 2021 – Digital Bros Group (DIB:MI), listed on the STAR segment of Borsa Italiana and operating in the videogames market, today announces the contract between its fully owned worldwide publisher 505 Games and Remedy Entertainment Plc for the co-publishing and development of a new game that will be available on PC, PlayStation 5 and Xbox Series X|S. Codenamed “Condor”, the new videogame is a multiplayer cooperative experience built on Remedy’s proprietary Northlight® technology. Condor is a spin-off of the critically acclaimed and award-winning Control. Condor’s initial development investment amounts to Euro 25 million and, as for the current agreement in place for Control, Condor’s development costs, marketing expenses and future revenues will be equally split between Digital Bros Group and Remedy Entertainment. “We are excited to continue and further expand our collaboration with Remedy. With over 2 million copies sold and revenues exceeding Euro 70 million, Control is an extremely successful game” commented Rami and Raffi Galante, co-CEOs of Digital Bros Group. “As a multiplayer game, Condor has the potential to engage the gaming community in the long run, contributing to 505 Games’ product revenues stream longer than traditional games.” Alongside Condor, Digital Bros and Remedy Entertainment have planned to further expand the Control- franchise with another, bigger-budget Control-game, to be agreed in more details in the future.
    [Show full text]
  • Publishing 4 1 H1 2020 HIGHLIGHTS NEW EXPERTISE
    2020 H1 RESULTS September 29, 2020 1 DISCLAIMER This presentation does not constitute or form part of any offer or invitation to purchase No express or implicit representation or warranty is given as to the accuracy, fair or subscribe for shares. Neither this document nor any part of it constitutes the basis for presentation, completeness or relevance of the information contained in this document. any agreement or undertaking whatsoever, and shall not be used to support such The Company, its advisors and their representatives shall not be held liable for any loss agreement or undertaking. or damage arising from any use of this presentation or its content, or relating in any way Any decision to acquire or subscribe for shares as part of any future offer may only be to this presentation. The Company is not required to update the information contained taken on the basis of information contained in a prospectus approved by the French in this presentation; any information contained herein is liable to be modified without Financial Markets Authority (Autorité des marchés financiers or AMF) or in any other prior notice. offer document prepared and issued by the Company in relation to such offer. This presentation contains indicators regarding the Company’s targets and development This presentation has been personally provided to you for information purposes only and priorities. These indicators may be identified by the use of the future or conditional is intended to be used solely for the purposes of presenting the Company. tense and forward-looking expressions such as “expects to”, “may”, “estimate”, “intends to”, “plans to”, “anticipates” and other similar expressions.
    [Show full text]
  • Annual Report 2019
    CEO’S REVIEW PROJECTS NORTHLIGHT PERSONNEL FINANCIALS GOVERNANCE RESPONSIBILITY ANNUAL REPORT 2019 © Remedy Entertainment Plc Annual Report 2019 | 1 CEO’S REVIEW PROJECTS NORTHLIGHT PERSONNEL FINANCIALS GOVERNANCE RESPONSIBILITY FROM THE CEO 2019 was a good year financial- By early 2019, we reached ly for Remedy and an impor- key strategic targets: we had tant milestone in our lon- developed our capabilities to ger-term growth plans formed create high quality, longer at the end of 2016. lasting games, we had suc- During 2017 and 2018, we cessfully transformed into a began building the basis and multi-project model organiza- making investments to enab- tion, and had taken a stronger le our future growth: we built position in the value chain by both working on partners’ and Remedy’s game brands. ”We reached IN early 2019, we started a new the first growth phase. We continue creating lon- milestone.” ger lasting games in engaging worlds, systematically pursue strong business ownership of new game teams, initiated new our games. projects, developed our skills We keep on developing our and improved how we work organization for professionally and collaborate. managed game development, © Remedy Entertainment Plc Annual Report 2019 | 2 CEO’S REVIEW PROJECTS NORTHLIGHT PERSONNEL FINANCIALS GOVERNANCE RESPONSIBILITY as well as empower and enable our With Control, we have succeeded technology developments in our teams and people to maximally use in creating a new game brand and a Northlight game engine and game their special talents to create succes- game that stands out. development tools proceeded well, sful world-class games. All of the above support Remedy’s supported by our wider business and We reached the first growth mi- future partner discussions also for production developments.
    [Show full text]