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Research

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

By Atte RiikolaAnalyst
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 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.

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Key Estimate Figures18.02.2024

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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