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Research

Remedy: Patience will be rewarded

By Atte RiikolaAnalyst
Remedy Entertainment
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Remedy's Q1 result was stronger than we had expected, but the main thing was that the 5 major game projects under development are progressing as planned. According to our estimates, these projects will become more clearly visible in Remedy's earnings growth only in 2024-2025, which means that some patience from investors is required. With our estimates, the share’s valuation becomes so low at that point that we consider the return/risk ratio very attractive for investors who play the long game.

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Remedy Entertainment is a game developer. Its operations are primarily focused on the development of action games, with a particular focus on 3D technology. Examples of games that the company has developed include several different versions of Alan Wake, Max Payne, and Control. Remedy also develops its own game engine and tooling technology that powers many of its games. The company was founded in 1995 and is headquartered in Espoo, Finland.

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Key Estimate Figures16.05.2022

202122e23e
Revenue44.748.162.6
growth-%8.9 %7.4 %30.3 %
EBIT (adj.)11.46.711.1
EBIT-% (adj.)25.5 %13.9 %17.8 %
EPS (adj.)0.670.390.66
Dividend0.170.170.22
Dividend %0.4 %1.2 %1.5 %
P/E (adj.)59.037.422.2
EV/EBITDA33.016.86.7

Forum discussions

Gaudechon spent over 15 years at EA across two stints at the U.S. publisher, where he assumed profit and loss responsibility for the group’s...
10 hours ago
by Pohjolan Eka
4
A surprising choice. It is a plus, however, that they went with an international recruit. In the release, there is a clear communicative effort...
10 hours ago
8
Quote spotted on Reddit from the man’s LinkedIn profile Built strategic partnerships with Tencent, Nexon, and Garena to expand EA’s reach in...
11 hours ago
by Spwni
10
Yep, the gaming-side expertise doesn’t immediately impress, but the guy seems to have quite a lot of experience in the Asian markets. It’s been...
12 hours ago
by Hasty
6
Yay, we’re getting microtransactions and NFTs in Remedy’s games. After all, the guy worked on FIFA, among other things, and his latest stint...
12 hours ago
by Trivial
15
Inderes Remedy Entertainment Oyj: Jean-Charles Gaudechon on nimitetty Remedyn... Remedy Entertainment Oyj Pörssitiedote 9.2.2026 kello 18:30...
13 hours ago
by TJT
18
If it’s a Q2 release, then a gameplay/release date trailer could be expected. If it moves to Q3, then there are even more opportunities to showcase...
14 hours ago
by Hasty
6
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