contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


remedy-results-years-development-will-be-put-test-soon

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Atte Riikola

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

One explanation could be if Rockstar commissions more ports of the game from another company. The assumption is that Remedy handles the Windows, PS5, and Xbox S/X versions, but if, for example, a Switch 2 port has been started and they want all versions to be released simultaneously. In that case, development at Remedy’s end could be “slowly winding down,” but the release is delayed while another company works on that port. GTA6 has already been delayed until the end of next year (November 19, 2026), so there would have been a good “slot” for this in the early part of the year.

They probably don’t want to release it at the same time as GTA 6.

Max Payne has had declining development fees, which would indicate that the game is nearing the end of its development. Of course, I myself speculated with a tinfoil hat over a year ago whether Remedy was taking advance development fees because every quarter had a very consistent €10M revenue and the only variable in those was MPR’s development fees. Another possibility, since development fees are milestone-based, is that MPR has encountered some problems, which is why milestones haven’t been reached. I would consider the probability of production problems being greater in Control 2 than in MPR. It’s also good to remember that MPR’s release is not in Remedy’s hands; if Rockstar, for some reason, wants to delay the game’s release even if it’s ready, they can do so. I just can’t think of any reason why Rockstar would do such a thing either.

An announcement and a successful release are, of course, two different things, as the announcement of Elder Scrolls VI 7 years ago shows:               A Control 2 release already in 2026 and not 27H1 would, of course, be absolutely positive news. Such news has been missed from Remedy’s side, as the pace of game development has been too slow from the perspective of investor return expectations.

If Control 2’s release were already in 2026, an announcement now would be very logical. In that case, perhaps even gameplay footage is possible. However, the game only went into production early this year. That would be incredibly fast development if it were to be released in 2026. On the other hand, Max Payne would also have a very long production if it were in 2027. One must approach rumors with a bit of reservation. Well, perhaps we’ll be wiser tomorrow.

I can’t find the source anymore, it was from some online discussion, but it was a good point that the Epic free game I wrote about earlier is probably Lords of the Fallen. A sequel is in development, which will be an Epic exclusive on PC. It might be the only known major AA+ Epic exclusive game that is known and unreleased. Perhaps a trailer for the sequel at TGA, followed by a free distribution on Epic, makes more sense than Alan Wake 2, at least now in connection with TGA.

It is indeed interesting. However, a Control 2 “teaser trailer” was already released a year ago with the AW2 Lake House expansion, so it’s unlikely we’ll see a new minimalist trailer. The game has been in development since 2021, although only “in production” for less than a year, so it remains to be seen if there will be a proper trailer or not. Maybe a glimpse of in-engine gameplay and then some CGI fluff. Quite reliable sources believe Control 2 will be showcased: According to two reliable insiders, Control 2 will be at the game awards and one of them stated it for a 2026 release. Shinobi giving hints at Control 2 in this thread. “It’s too early for Control 2”. Shinobi replied: “Are you sure?” https://www.resetera.com/threads/deducing-tga-announcements-from-the-various-leaks-and-reports-open-spoilers.1378060/page-2#post-148696141 The most reliable insider NatetheHate also states on his YouTube predictions that control 2 will not only be there but it will “release in 2026.” So it appears Max Payne has shifted for ‘27. All this could change, but Max Payne for now has swapped places with control 2. http://youtube.com/post/UgkxfLibxF2GMBRLRA2IfpFc23ppHwUTQoyA?si=NU8Zd1vosqqhjgUX https://www.reddit.com/r/maxpayne/comments/1pjm6po/according_to_two_reliable_insiders_control_2_will/

Remedy Entertainment

With the release of Alan Wake 2 on October 27, Remedy's investor story is gradually moving into a phase of profitable growth after years of strong investment. In our view, the valuation of the stock already prices Alan Wake 2 for good success, and the other projects in the pipeline are also expected to create value.

<p>With the release of Alan Wake 2 on October 27, the company’s investor story is gradually moving into a phase of profitable growth after years of strong investment. In our view, the valuation of the stock already prices Alan Wake 2 for good success, and the other projects in the pipeline are also expected to create value. We are particularly confident in the success of the traditional AAA game projects under development, whereas the multiplayer projects Condor and especially Vanguard are the biggest question marks at this point. We find Remedy's investment story very interesting looking to the end of this decade, but the current valuation keeps us in a wait-and-see mood.</p> 

	2022	23e	24e
Revenue	43.6	35.7	55.1
growth-%	-2.5 %	-18.1 %	54.4 %
EBIT (adj.)	-0.6	-14.3	2.4
EBIT-% (adj.)	-1.3 %	-40.0 %	4.4 %
EPS (adj.)	-0.13	-0.85	0.14
Dividend	0.10	0.10	0.10
Dividend %	0.5 %	0.7 %	0.7 %
P/E (adj.)	neg.	neg.	108.8
EV/EBITDA	126.5	neg.	21.9

Remedy: Results of years of development will be put to test soon

Key Estimate Figures13.09.2023

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