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Research

Remedy: AW2 sales figures fell short of our overly optimistic expectations

By Atte RiikolaAnalyst
19.02.2024, 10.53
Remedy Entertainment
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Friday's sales figures for Alan Wake 2 show that the game is off to a good start and is Remedy's fastest selling game to date. However, following very positive critical reviews, we expected an even faster start and have now revised our overly optimistic forecasts downwards.

Remedy Entertainment

17.02EUR16.02.2024, 18.00
19EURTarget price
Accumulate
Changed from:Accumulate
Recommendation updated:18.02.2024

Remedy Entertainment is a game developer. The business is primarily focused on the development of action games, with a particular focus on 3D technology. Examples of games developed by the company include several different versions of Alan Wake, Max Payne, and Control. Remedy also develops its own game engine and utility technology that powers many of the games. The company was founded in 1995 and has its headquarters in Espoo.

Read more on company page

Key Estimate Figures18.02.2024

202223e24e
202223e24e
Revenue43.633.951.1
growth-%-2.5 %-22.2 %50.8 %
EBIT (adj.)-0.6-28.7-6.2
EBIT-% (adj.)-1.3 %-84.6 %-12.1 %
EPS (adj.)-0.13-1.71-0.36
Dividend0.100.100.10
Dividend %0.5 %0.7 %0.7 %
P/E (adj.)neg.neg.neg.
EV/EBITDA126.5neg.neg.
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