Remedy Entmt Oyj (RMDEF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and thank you for joining this Remedy Entertainment webcast. My name is Sanna Kantelinen. 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 Kallionpää. Tero and Santtu will present the Q1 business review, financial results and outlook, and then we will have a Q&A after the presentation. Pero, 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, 13.4 million euro, which increased by 24% from a year ago. The quarter overall was profitable, EBIT being 1.3 million euro, EBITDA 2.6 million euro. Gas flow from operations was 6.6 million euro negative. Santtu 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 franchise was finalized. And with that, we got back all the remaining control rights. In practice, this means that practicalities like access to different game stores where control is, were transferred to us. Due to this ongoing transfer in the first quarter, we couldn't do all the sales activities and the quarter was sales-wise bit slower for control. Now, despite of this, having now also Alan Wake 2 bringing us royalties and overall seeing our royalties grow quarter by quarter is a good sign for the future. Now, when control is fully in our hands, we can again fully drive its sales as well. In March, we also announced that FPC Firebreak will launch in summer. Then last week, we gave more detailed info for our players and launch is in June 17th. Overall, I'm personally very happy on our first quarter. This is the start of our new strateg...