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, growing, and predictable revenue basis for many years. On top of these revenues, we build the less predictable but highly scalable revenue streams arising from game royalties.

Individual game royalties depend on many variables, which are not all in our control. Therefore, our assumptions for game royalties are conservative by default. At the same time, even though not assumed as the base case, 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. Step by step, our games are transforming into longer-lasting experiences that typically continue to sell for many years. This also applies to the three games we launched in the end of 2021 and early 2022 with our partners.

In relation to our longer-term game roadmap, we now have five game projects in development and will have major game launches between 2023 and 2025. 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 also 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 2021 IFRS 2020 FAS 2019 FAS 2018 FAS 2017 FAS 2016
Revenue 44,726 41,086 31,645 20,146 17,168 16,414
Growth in revenue, % 8.9% 29.8% 57.1% 17.3% 4.6% 19.4%
Operating profit (EBIT) 11,407 7,248 6,534 0.609 2,006 3,946
Operating profit, % of revenue 25.5% 17.6% 20.6% 3.0% 11.7% 24.0%
Result for the period under review 8,794 5,412 5,238 0.532 1,469 3,166
Result for the period under review, % of revenue 19.7% 13.2% 16.6% 2.6% 8.6% 19.3%
Balance sheet total 101,126 51,281 35,896 28,261 26,652 11,190
Net cash 47,526 18,047 15,876 20,089 20,694 10,348
Net gearing, % -54.4% -50.0% -60.2% -89.9% -94.8% -137.3%
Equity ratio, % 86.4% 70.4% 73.5% 79.1% 81.9% 74.1%
Number of personnel on average during the period under review 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.