Financials

Long-term business prospects

We have several games in development, each with a world-class partner and agreed long-term development fees. These development fees form a strong and predictable revenue basis for many years. On top of these revenues, we have the less predictable but highly scalable revenue streams arising from game royalties.

Our assumptions for individual game royalties are inherently conservative, due to the amount and nature of the variables impacting game sales. However, each high-quality game that stands out in the market has the potential to succeed in a bigger way, which would drive significant revenue and operating profit growth. Our games and brands are transforming into longer-lasting experiences that typically continue to sell for years.

In relation to our longer-term game roadmap, we now have five game projects in development and will have major game launches starting from 2023. The timing of individual game launches and new game development agreements may cause variation from quarter to quarter and year to year. With several games out in the market accruing royalties and several new ones in development, this variation is expected to decrease in the coming years.

Dividend policy

Remedy’s Board of Directors has established a dividend policy aimed at maximizing ownership value through efficient allocation of capital.

The payment of any dividend is influenced by business investment needs, expected return on investments and ensuring liquidity. In the event that dividend is paid, all shares of the company are entitled to equal dividend.

Key figures

Remedy has published its first financial statements according to IFRS for the period ended 31 December 2021. The comparative information is presented from the period ended 31 December 2020 and the IFRS transition date is 1 January 2020. Previously the Company has prepared its financial statements, including business review reports and half-year reports, in accordance with the Finnish Accounting Standards (FAS).

1,000€	IFRS 2022	IFRS 2021	IFRS 2020	FAS 2019	FAS 2018	FAS 2017	FAS 2016
Revenue	43,588	44,726	41,086	31,645	20,146	17,168	16,414
Growth in revenue, %	-2.5%	8.9%	29.8%	57.1%	17.3%	4.6%	19.4%
Operating profit (EBIT)	-563	11,407	7,248	6,534	0.609	2,006	3,946
Operating profit, % of revenue	-1.3%	25.5%	17.6%	20.6%	3.0%	11.7%	24.0%
Result for the period under review	-1,726	8,794	5,412	5,238	0.532	1,469	3,166
Result for the period under review, % of revenue	-4.0%	19.7%	13.2%	16.6%	2.6%	8.6%	19.3%
Balance sheet total	99,552	101,126	51,281	35,896	28,261	26,652	11,190
Net cash	49,860	51,666	18,047	15,876	20,089	20,694	10,348
Net gearing, %	-56.4%	-54.4%	-50.0%	-60.2%	-89.9%	-94.8%	-137.3%
Equity ratio, %	88.8%	86.4%	70.4%	73.5%	79.1%	81.9%	74.1%
Average number of personnel during review period (FTE)	307	280	265	228	169	139	123*

* The method for calculating the average number of personnel has changed since the 2016 financial year, and the comparable figure is 128.