Starbreeze: Troubled launch presents an opportunity for risk-tolerant investors
PAYDAY 3 was released on September 21st, and almost immediately experienced server problems that hindered the players from accessing the game. The issue continued periodically for days after the launch but seems to have stabilized as of writing this. The launch issues likely hurt PAYDAY 3 sales over the short- and medium-term, and consequently, we have lowered our sales estimates. Since the early access launch, Starbreeze’s share price has decreased by 39%. Undoubtedly, the short-term risks have increased, but we believe Starbreeze’s value creation potential is still above what the drastic decrease in share price implies
Starbreeze
Starbreeze is a developer, creator, publisher, and distributor of games for PC and console, targeting the global market. With the IP PAYDAY™ as a core, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze utilizes a ’Games as a Service’-modell, with continuous releases of add-ons and updatates to their games. The majority of operations are in Europe. The company’s headquarters is in Stockholm.
Read more on company pageKey Estimate Figures03.10.2023
2022 | 23e | 24e | |
---|---|---|---|
Omsætning | 127,6 | 612,9 | 272,5 |
vækst-% | 1,52 % | 380,36 % | -55,53 % |
EBIT (adj.) | 6,7 | 366,5 | -17,8 |
EBIT-% (adj.) | 5,29 % | 59,79 % | -6,54 % |
EPS (adj.) | -0,08 | 0,26 | -0,01 |
Udbytte | 0,00 | 0,00 | 0,00 |
Udbytte % | |||
P/E (adj.) | - | 0,78 | - |
EV/EBITDA | 18,07 | - | - |