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Research

Remedy: Back in the game

By Atte RiikolaAnalyst
Remedy Entertainment
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The investor sentiment around Remedy has recently soured, where we believe the key factors are the write-down of Vanguard’s development expenditure and the postponement of the financial statements based on publishing contract negotiations. In addition, uncertainty about Alan Wake 2’s commercial success causes uncertainty around the stock. We believe that the content of the publishing contract and the sales figures of AW2 will be clarified in connection with the financial statements (3/20) at the latest, and with the decreased valuation we feel Remedy's long-term potential looks interesting again.

Remedy Entertainment

17.62EUR12.02.2024, 18.00
21EURTarget price
Accumulate
Changed from:Reduce
Recommendation updated:12.02.2024

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 Figures12.02.2024

202223e24e
Revenue43.633.967.2
growth-%-2.5 %-22.2 %98.3 %
EBIT (adj.)-0.6-28.79.9
EBIT-% (adj.)-1.3 %-84.6 %14.8 %
EPS (adj.)-0.13-1.710.59
Dividend0.100.100.10
Dividend %0.5 %0.5 %0.5 %
P/E (adj.)--31.6
EV/EBITDA126.5-14.8
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