Remedy (REMEDY) CMD 2024 summary

Strategic direction and future plans

• Entering a new growth era in 2025, aiming for regular annual game launches and expansion of existing franchises into world-class entertainment properties, following years of transformation since 2016.

• Four strategic pillars: grow world-class franchises, make distinctive category-leading games, enable successful productions, and self-publish owned games.

• Focus on expanding Alan Wake and Control through sequels, spin-offs, and transmedia opportunities, leveraging a partnership with Annapurna for TV/film adaptations.

• Max Payne Remake serves as a partner franchise project, balancing the portfolio and utilizing synergies.

• Cancelled Vanguard project to focus resources on higher-potential titles and improve development velocity.

Financial guidance and targets

• Target to double 2024 revenue by 2027, with continued growth beyond that milestone.

• Aim for a 30% EBITDA margin by 2027 and to maintain that minimum level through 2030.

• Minimum 100% return on investment per game, with business cases built for 3–5 year payback periods.

• Self-publishing expected to significantly increase profit potential compared to previous publisher-funded models.

• Funding secured through cash reserves, a €15 million convertible loan from Tencent, and improved cash position.

Business model and self-publishing transition

• Transitioning from development fees and royalties to a revenue model dominated by self-published game sales.

• Self-publishing enables greater financial upside, closer integration between development and publishing, and more direct audience engagement.

• Publishing team expanded to over 18 people, with further selective hiring planned; operational scale achieved via key external partners.

• Marketing budgets for AAA launches are managed carefully, with flexibility for post-launch investment, especially for multiplayer/service games.

• Risks in self-publishing include marketing effectiveness and competition, mitigated by strong partnerships and systematic audience research.