Santtu Kallionpää
CFO
2025 HIGHLIGHTS
© REMEDY ENTERTAINMENT 2026
THE YEAR REVOLVED AROUND OUR TRANSITION TO THE SELF-PUBLISHING MODEL
FINANCIAL HIGHLIGHTS
€59.5MRevenue
+17.5% from comparison period
(€50.7M)
-€14.9MEBIT
-€10.6M from comparison period
(-€4.3M)
€11.3MEBITDA
+352% from comparison period
(€2.5M)
€4.5MOperating cash flow
-59% from comparison period
(€11.0M)
2025 HIGHLIGHTS
THE YEAR REVOLVED AROUND OUR TRANSITION TO THE SELF-PUBLISHING MODEL
FINANCIAL HIGHLIGHTS RELEVANT EVENTS DURING THE FISCAL YEAR (1/2)
€59.5MRevenue
+17.5% from comparison period
(€50.7M)
-€14.9MEBIT
-€10.6M from comparison period
(-€4.3M)
€11.3MEBITDA
+352% from comparison period
(€2.5M)
€4.5MOperating cash flow
-59% from comparison period
(€11.0M)
© REMEDY ENTERTAINMENT 2026
FBC: Firebreak
First self-published game, FBC: Firebreak, was released
Remedy recognized a non-cash impairment of €14.9M representing a majority of the game's capitalized development costs and allocated purchased publishing rights.
Governance
Tero Virtala stepped down as the CEO. Markus Mäki was appointed as the interim CEO.
Board initiated a search for a new CEO, appointing Jean-Charles Gaudechon as the CEO as of 1.3.2026
Markus Mäki stepped down as the Chairman of the Board. Henri Österlund was elected the Chairman of the Board.
Capital structure
Remedy announced a program to acquire the company's own shares. A total of 50,000 shares were purchased between November 3, 2025 and December 5, 2025, corresponding to 0.37% of the total number of shares.
2025 HIGHLIGHTSTHE YEAR REVOLVED AROUND OUR TRANSITION TO THE SELF-PUBLISHING MODEL
FINANCIAL HIGHLIGHTS RELEVANT EVENTS DURING THE FISCAL YEAR (2/2)
€59.5MRevenue
+17.5% from comparison period
(€50.7M)
-€14.9MEBIT
-€10.6M from comparison period
(-€4.3M)
€11.3MEBITDA
+352% from comparison period
(€2.5M)
€4.5MOperating cash flow
-59% from comparison period
(€11.0M)
© REMEDY ENTERTAINMENT 2026
CONTROL franchise
Remedy received the full publishing and distribution rights to the CONTROL franchise.
CONTROL Resonant, sequel to Control, was announced to be launched in 2026.
FULL YEAR 2025: REVENUE
SIGNIFICANT GROWTH IN GAME SALES
+17%*
59.5
50.7
5.1
26.6
33.9
5.2
45.6
28.7
32.9
Notes
*FX neutral change for FY revenue calculated with 2024
average FX rates for USD, GBP and SEK is +21%.
FY 2023
FY 2024
FY 2025
© REMEDY ENTERTAINMENT 2026
Game Sales and Royalties (EURm) Development Fees (EURm)
FULL YEAR 2025: PROFITABILITY© REMEDY ENTERTAINMENT 2026
PROFITABILITY AFFECTED BY FBC: FIREBREAK IMPAIRMENT
-70
-40
-24
-30
-10
-22
-8
-60
-20
-6
-18
-20
-50
-10
-2
-4
FY 2025
-12
-26
-14
-80
-40
-28
-30
-16
-90
-18
-50
FY 2023 FY 2024
FY 2025
FY 2023
FY 2024
8
EBIT
EBITDA
EURm
0
-28.6
-4.3
-14.9
%
0
EURm
11.3
%
30
10
-2
-4
-6
-10
-14
-16
20
6
-20
-8
-10
4
2.5
10
-30
2
-12
0
-17.0
0
EBIT(EURm)
EBIT marginEBITDA (EURm)
EBITDA margin
HISTORICAL REVENUE AND PROFITABILITY PROFILE
Revenue
M€
70
60
50
FAS IFRS
44.7 43.6
© REMEDY ENTERTAINMENT 2026
50.7
59.5
EBITDA %
70 EBIT %
60
50
40
30
20
10
0
-10
3.8
15.5
10.5
11.9 13.7
16.4
20.1
17.2
31.6
41.1
33.9
40
30
20
10
0
-10
-50
2011 2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
-50
Revenue (M€)
EBITDA % EBIT %CEO's Review
Jean-Charles Gaudechon
CEO
STRATEGY AND TARGETS
REMEDY'S 2025-2030 STRATEGY
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
WORK IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
SELF-PUBLISH THE GAMES WE OWN
STRATEGY AND TARGETSREMEDY'S 2025-2030 STRATEGY
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
WORK IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
SELF-PUBLISH THE GAMES WE OWN
STRATEGIC DEVELOPMENT 2025CREATING AND GROWING WORLD-CLASS GAMING FRANCHISES
Sequel to Control - CONTROL Resonant -
was announced for release in 2026.
We have brought Control to new markets, new audiences and expanded the reach of the CONTROL franchise.
Control passed over 5 million units in lifetimes sales (now over 6 million) with 1 million units sold during 2025.
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
STRATEGY AND TARGETSREMEDY'S 2025-2030 STRATEGY
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
WORK IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
SELF-PUBLISH THE GAMES WE OWN
STRATEGIC DEVELOPMENT 2025MAKING DISTINCTIVE CATEGORY LEADING GAMES
Northlight enables us to make games that consistently stand out in the market.
CONTROL Resonant's trailer was received as a distinctive game with a unique look.
Alan Wake 2 was selected as October's monthly game for PlayStation Plus; signaling the category-defining status.
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
STRATEGY AND TARGETSREMEDY'S 2025-2030 STRATEGY
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
WORK IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
SELF-PUBLISH THE GAMES WE OWN
STRATEGIC DEVELOPMENT 2025WORKING IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
We launched a new game in 2025 and brought larger updates to it.
We announced a new game launch for 2026.
New project advanced to POC stage.
Value-adding improvements were made to our existing catalogue (e.g. Control for Mac), extending our catalogue's life cycle.
Our goal is to deliver one game per year (on average) with the current scale and state of our operations.
WORK IN WAYS THAT ENABLE
SUCCESSFUL PRODUCTIONS
STRATEGY AND TARGETSREMEDY'S 2025-2030 STRATEGY
CREATE AND GROW WORLD-CLASS GAMING FRANCHISES
MAKE DISTINCTIVE CATEGORY-LEADING GAMES
WORK IN WAYS THAT ENABLE SUCCESSFUL PRODUCTIONS
SELF-PUBLISH THE GAMES WE OWN
STRATEGIC DEVELOPMENT 2025SELF-PUBLISHING THE GAMES WE OWN
Full CONTROL publishing and distribution rights were received early in the year, enabling us to steer the franchise to our vision.
CONTROL Resonant was announced to be self-published in 2026 with an ambitious, global campaign.
FBC: Firebreak was self-published with many learnings on the publishing side.
SELF-PUBLISH THE GAMES WE OWN
STRATEGY AND TARGETSGOING FORWARD: FOCUS AREAS WITHIN OUR STRATEGY
Our Core Strengths Franchise Expansion Self-Publishing
Distinctive single-player narrative experiences on core platforms.
No shortcuts on craft, no compromise on what makes a Remedy game.
From single games to enduring franchises.
© REMEDY ENTERTAINMENT 2026
Long-term strategies, deeper worlds.
Owning the full chain, from creation to player.
A publishing voice as bold and distinctive as our games.
© REMEDY ENTERTAINMENT 2026
REMEDY'S FRANCHISESPARANATURAL ACTION & RPG
Remedy owns the IP and its full publishing and distribution rights.
PSYCHOLOGICAL HORROR
CONNECTED
UNIVERSE
Remedy owns the IP.
CONTROL is a multi-award-winning game
• +6 million CONTROL lifetime copies sold
• +1 million CONTROL copies sold in 2025
~20 million lifetime CONTROL players
Alan Wake 2 is a multi-award-winning, category-defining game in its genre
• +2 million Alan Wake 2 copies sold
REMEDY
+40M Players reached (not unique players) STRATEGY AND TARGETSWE REMAIN COMMITTED TO DELIVERING ON OUR COMMUNICATED 2027 TARGETS.
DOUBLE THE 2024 REVENUE BY 2027WITH CONTINUED GROWTH BEYOND THIS MILESTONE
EBITDA MARGIN OF 30% BY 2027AND MAINTAIN THAT MINIMUM LEVEL THROUGHOUT THE STRATEGY PERIOD
© REMEDY ENTERTAINMENT 2026
CONTROL RESONANT
© REMEDY ENTERTAINMENT 2026
OVERVIEW & VISION
Our goal
•
Our goal remains to make the game a 'must-have day-
one purchase' for the fans of Control and for gamers
worldwide.
Current traction
•
•
A lot of interest was captured with our December 2025
announcement.
Leading indicators are on track for us to reach the goal.
Next steps
•
•
We will ramp up the marketing leading up to the release
and expect the momentum to significantly intensify. We have an ambitious global campaign and a sizeable marketing budget for execution.
© REMEDY ENTERTAINMENT 2026
GAMES IN DEVELOPMENTNEW PROJECT
CONTROL
Resonant
FULL PRODUCTION
Max Payne 1&2 remake
FULL PRODUCTION
New project
PROOF OF CONCEPT
WITH