Finnish game company Remedy Entertainment has announced financial results for the 2016 fiscal year, with revenues of 16.4 million EUR, year-on-year earnings growth of 19.4 per cent and an operating profit of 3.9 million EUR. Remedy’s outstanding performance during the fiscal year was fueled by the release of Quantum Break in Spring 2016 and revenues generated by Remedy’s existing game portfolio.
Remedy bases its long-term growth on the ability to create games and game brands that offer unique experiences with stunning visuals, according to the company. Created exclusively for Microsoft, Quantum Break was the biggest entertainment production to come out of Finland at the time of its release.
Check out the game’s one year anniversary trailer:
Currently Remedy is developing a sequel to one of the most popular games in the world in cooperation with the Korean publisher Smilegate, whose long-time success CrossFire has garnered 650 million registered users and over one billion USD in yearly revenues.
Remedy is also working on a new title codenamed P7. The company’s strategy is to release the game on a wide range of platforms, with the company now adapting its Northlight technology for the Sony PlayStation 4 console as well.
In addition, company’s general meeting on 4 April saw the appointment of new members to Remedy’s board of directors, including Jussi Laakkonen (CEO of Unity Technologies Finland Oy) and Henri Österlund (founder of investment company Accendo Capital). Continuing on the board are Christian Fredrikson (CEO of Fingerprint Cards), Ossi Pohjola (board professional) and Markus Mäki (co-founder of Remedy).
Remedy CEO Tero Virtala comments: “Over 20 years on the top of the global gaming industry is a great milestone, achieved by only a few other independent game companies. Our new board members bring solid experience from both gaming and the financial industries, and (will) help us in executing Remedy’s growth strategy and to succeed in the future.”
Learn more about Remedy Entertainment at www.remedygames.com.