Remedy Entertainment Plc | Company announcement 9:00 am (EET) 9 December 2020
Remedy starts next growth phase with bigger and more engaging games, builds capabilities to self-publish selected games
Remedy’s Board of Directors has decided on the company’s strategy and objectives for the years 2021–2025. The Board also decided that Remedy will begin releasing business reviews for Q1 and Q3 from 2021 onwards. Investor calendar with financial release dates for 2021 will be announced in December 2020.
Remedy’s Executive Team will present the new strategy today during its Capital Markets Day webcast, which begins at 8 am ET / 1 pm GMT / 3 pm EET at https://remedy.videosync.fi/cmd-2020
CATEGORY-DEFINING, CREATIVE SUPER-DEVELOPER
Remedy has evolved into a category-defining, creative super-developer in the fast-growing global gaming industry. The company is in a strong position to start its next growth phase and aims to reach the following objectives by 2025:
- Remedy creates several successful games and at least one major hit game.
- Remedy owns at least three successful, growing game brands, all with long-term hit potential.
- Remedy captures more value and builds capabilities to select the right commercial model for each game, including self-financing, self-publishing and working with strong publishing partners.
- Remedy becomes the most attractive gaming industry employer in Europe.
- While achieving all the above, Remedy runs a profitable and growing business, with well-managed risks.
Remedy aims to reach these objectives with the following strategic guidelines:
1. Build a portfolio of recognized, growing game brands
We create and own brands that grow over time, and out of these brands, we aim to create hit games. Each brand and game stands on its own legs and connects to a wider Remedy universe. We expand and strengthen our brands, and selectively work with world-leading partner brands.
2. Create long-engaging games in immersive and expanding worlds
We bring fresh and memorable experiences to our gamers, built on top of our world-building, storytelling, and gameplay skills. We leverage synergies across games and create new ways to engage our players longer. Each game and game world creates opportunities for expansions, sequels, and spin-offs.
3. Strengthen our position in the value chain
To capture more value in the future, we strengthen our capabilities to self-finance and self-publish selected future games, and work with strong publishing partners on certain games. We continue building capabilities and ways of working to increase the overall business potential of our games.
4. Iterate towards bigger games with professional and scalable game productions
We build and leverage synergies among our games, and game by game, iterate towards bigger games. We continue developing our efficient multi-project model, production processes and strong execution capabilities. We develop our internal development teams and increase scalability by expanding co-development with partner studios.
5. Empower creative, world-class teams and people
We keep on investing and developing our creative, world-class people in well-functioning teams, supported by best-in-class people processes. We systematically build our employer brand and attract top talent. We enable people and teams to work efficiently, having enough autonomy and support to fully utilize and develop their special skills.
Tero Virtala, Chief Executive Officer
Phone: +358 9 435 5040
Lauri Haavisto, Senior Manager, Investor & Talent Relations
Phone: +358 9 435 5040
Alexander Corporate Finance Oy, Certified Adviser
Phone: +358 50 520 4098
REMEDY IN BRIEF
Remedy Entertainment Plc is a globally successful video game company known for story-driven and visually stunning console and computer games such as Control, Alan Wake and Max Payne. Remedy also develops its own Northlight game engine and game development tools.
Founded in 1995 and based in Finland, the company employs over 280 game industry professionals from 30 different countries. Remedy is listed on the Nasdaq First North Growth Market Finland marketplace. www.remedygames.com