Starbreeze CEO: PayDay 2 Has Helped The Company Turn Around

Starbreeze CEO Bo Andersson Klint says that the success of its action game Payday 2 has driven a turnaround for the Swedish development studio. In the six month period that ended on December 31, 2013, pre-tax profit amounted to SEK 103.7 million and net sales during the same period rose from SEK 25.8 million a year earlier to SEK 130.4 million.

"To put the past six months in perspective," said CEO Bo Andersson Klint, "I would like to highlight that Starbreeze historically, from 1998 to June 2013, accumulated a total loss of SEK 94 million (£8,650,000).

"Thanks to our new business model, reorganization and a focus on our own brands, we have – in only two quarters – generated a profit before tax of SEK 104 million. I would like to think that is what they call a turnaround."

"Keeping this in mind, I as CEO can continue to move the company away from a survival strategy and towards a strategy focused on growth, sustained profits, and value maximization of our own brands."

Klint also said that the Board of the company is "pursuing a list change to First North, with the future goal being a listing on Nasdaq OMX Small Cap list."

Klint went on to say that as of February, Payday 2 was the fifth largest official community on Steam with more than 350,000 active members. He also revealed that Starbreeze has signed a new agreement with publisher 505 Games to continue developing Payday 2 DLC (which he claims is worth "six million US dollars"), that royalty income from A Tale of Two Sons is finally flowing into the company, and that the original Payday: The Heist "continues to generate new interest and new revenue streams."

Source: CVG

Tweet about this on TwitterShare on FacebookShare on Google+Share on RedditEmail this to someone

Comments are closed.