Q1 2025 Remedy Entertainment Oyj Earnings Call Transcript
Key Points
- Remedy Entertainment PLC (RMDEF) reported a 24% increase in revenue, reaching EUR13.4 million for Q1 2025.
- The company returned to profitability with an EBIT of EUR1.3 million and EBITDA of EUR2.6 million.
- Remedy successfully acquired the publishing rights to the Control franchise, allowing them to fully drive its sales.
- The company has transitioned to self-publishing, with a dedicated team of 25 professionals, enhancing control over their game launches.
- FBC Firebreak, Remedy's first self-published game, is set to launch on June 17th, with positive early reception from media and players.
- Cash flow from operations was negative at EUR6.6 million, primarily due to payment timings.
- The acquisition of Control's publishing rights led to a slower sales quarter for the franchise.
- External development costs decreased, reflecting potential variability in project needs and expenses.
- The company faces a competitive gaming market, with potential challenges in capturing audience attention.
- There is uncertainty regarding the impact of tariffs and currency fluctuations on future sales and profitability.
Hello everyone and thank you for joining this Remedy Entertainment webcast. My name is Sana Kanthalian. I'm from the Remedy communications team. Today we will go through Remedy's business review for January, March 2025. With me here I have Remedy CEO Tero Virtala and CFO Santtu Kallionpaa. Tera and Santo will present the Q1 business review, financial results and outlook, and then we will have a Q&A after the presentation. Terra, the floor is yours.
Thank you. Welcome everyone, also on my behalf. So, let's have a look at our first quarter highlights. Our revenue, EUR13.4 million which increased by 24% from a year ago. The quarter overall was profitable, EBIT being EUR1.3 million EBITDA EUR2.6 million. Cash flow from operations was EUR6.6 million negative. Sano will soon talk a bit more on that, but that was mainly due to payment timings. Then during the first quarter, the acquisition of the publishing rights to control
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