Revenue increased by 56.2% to EUR 10.8 (6.9) million
EBITDA increased to EUR -1.2(-4.9) million
Operating profit was EUR -2.1(-5.6) million, and the operating profit margin was -19.3%(-81.0%)
Cash flow from operations was EUR 3.3 (-3.9) million
In February, Remedy acquired full rights to the Control franchise from 505 Games. Upon the transaction, all publishing, distribution, marketing and other rights to Control, codename Condor, Control 2, and all future Control products reverted to Remedy.
ACQUIRING THE FULL RIGHTS TO THE CONTROL FRANCHISE FROM 505 GAMES
Remedy's aim is to systematically grow Control into a major
gaming franchise. This aim, and actions required, were not aligned with our partner's interest and abilities.
In February 2024, we acquired all publishing, distribution, marketing and other rights to Control, codename Condor, Control 2, and all future Control products from 505 Games.
The maximum purchase price for the transaction is approximately EUR 17 million, which equals the amount that 505 Games has paid for the development of codename Condor and Control 2 to date including a minor premium.
This deal allows us to decide the best way forward, both for Remedy and Control, and opens major growth opportunities in the mid and long term.
Remedy Entertainment Oyj published this content on
29 April 2024 and is solely responsible for the information contained therein. Distributed by
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Remedy Entertainment Oyj is a Finland-based game developer. The Company creates cinematic story-driven action console and computer games, which are published by partners, such as Microsoft, Rockstar Games and Smile Gate. The Companyâs titles include Death Rally, Max Payne, Max Payne 2: The Fall of Max Payne, Alan Wake, Alan Wake's American Nightmare and Quantum Break, among others.