Paradox Interactive's interim report for the past three quarters of 2017 showed significantly lower figures compared to the same period last year. Paradox's CEO acknowledged that 'Only one new game per year is just not good enough.'
Paradox Interactive sent out their interim report for the period from January until September 2017. The company closed the third quarter of 2017 with significantly lower figures compared to the same period last year.
This has a lot to do with the fact they only had one PC release to full price during 2017. Paradox CEO, Fredrik Wester said: "The underlying cause for releasing only one game during 2017 are the many decisions that we made a couple of years ago regarding the improvement of the quality of our games. As a result, we tightened the flow of games to a certain degree, with a clearer focus on improved quality. These last few years have shown that this strategy is paying off, in particular when viewed over time, but the real advantages are yet to be revealed."
The acquisition of game developer Triumph Studios is touted as the most significant event from the last quarter. Q3 is also the quarter Paradox became a "real" console publisher. Mr Wester explains: "We previously experimented with consoles but have now released both Cities: Skylines on PS4 and Pillars of Eternity: Complete Edition on PS4 and Xbox One."
The news of Andras Vajlok stepping down from his position as CFO broke back in August, and Mr Wester is now thrilled to be able to share that they have signed a new CFO, Alexander Bricca. Mr Vajlok will aid in his transition and the new CFO will start within six months.
Now, get ready for some numbers:
- Third quarter 2017
- Revenues amounted to SEK 180.7 (£16.36) million, an increase of 42 percent compared to the same period last year.
- Operating profit amounted to SEK 52.9 (£4.79) million, a decrease by 3 %.
- Profit before tax amounted to SEK 52.6 (£4.79) million, and profit after tax amounted to SEK 40.6 (£3.6) million.
- Cash flow from operating activities amounted to SEK 70.3 (6.36) million, and cash flow from investing activities amounted to SEK -79.2 (- £7.17) million.
- By the end of the period cash and short term placements amounted to SEK 244.3 (£22.12) million.
- Earnings per share amounted to SEK 0.38 (£0.034) per share.
- Revenue from the third quarter of 2017 is mainly attributable to Stellaris, Cities: Skylines, Cities: Skylines Console, Hearts of Iron IV and Europa Universalis IV.
That would be all. Go read something else .