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Extensive research

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

By Atte RiikolaAnalyst
Remedy Entertainment
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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.

Remedy Entertainment

22.5EUR13.09.2023, 18.00
24EURTarget price
Reduce
Changed from:Reduce
Recommendation updated:13.09.2023

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 Figures13.09.2023

202223e24e
Revenue43.635.755.1
growth-%-2.5 %-18.1 %54.4 %
EBIT (adj.)-0.6-14.32.4
EBIT-% (adj.)-1.3 %-40.0 %4.4 %
EPS (adj.)-0.13-0.850.14
Dividend0.100.100.10
Dividend %0.5 %0.7 %0.7 %
P/E (adj.)neg.neg.111.3
EV/EBITDA126.5neg.22.5
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