PAYDAY™ 3 launched and has reached recoup
Third quarter 2023
- Net sales amounted to
SEK 494.4 million (38.7). PAYDAY 2 accounted forSEK 51.6 million (36.1). -
PAYDAY 3 accounted for
SEK 440.8 million , of which:SEK 193.7 million in revenue sharing after parties' running costs andStarbreeze invoiced running cost as well as,SEK 247.1 million of debt for game financing is recognized as revenue, asStarbreeze ' commitment regarding development of the base game is considered fulfilled. This part has no cash flow effect in the quarter.
-
EBITDA* amounted to
SEK 441.8 million (24.4). -
Depreciation, amortization, and impairment amounted to
SEK 142.0 million (15.4). -
Profit/loss before taxes amounted to
SEK 299.8 million (-7.5). -
Basic and diluted earnings per share amounted to
SEK 0.21 (-0.01).
January-September 2023
- Net sales amounted to
SEK 564.3 million (94.0). PAYDAY 3 accounted forSEK 440.8 million . -
EBITDA* amounted to
SEK 460.0 million (47.0). -
Depreciation, amortization, and impairment amounted to
SEK 174.7 million (44.6). -
Profit/loss before taxes amounted to
SEK 299.2 million (-42.1). -
Basic and diluted earnings per share amounted to
SEK 0.31 (-0.06). -
Cash and cash equivalents amounted to
SEK 312.9 million (119.6).
Significant events during and after the quarter
July 19 ,Digital Bros initiated the conversion of its convertible loan ofSEK 215 million at a conversion rate ofSEK 1.45 .August 10 ,Starbreeze announced that it will publish Roboquest byRyseUp Studios , version 1.0 to be released onNovember 7, 2023 September 22 , worldwide launch of PAYDAY 3,Starbreeze has recouped initial investment as ofSeptember 30th .September 27 ,Jon Gillard andJuergen Goeldner elected as new Board members at an extraordinary general meeting.October 26 , launch of Turtle vs Turtle, a Fortnite island, developed by Torus Games.November 3 ,Starbreeze announced that it will publish GodsTV byMelbot Studios for release in 2026.November 10 ,Starbreeze ' ChairmanTorgny Hellström announced that he declines re-election at the 2024 AGM.
CEO's message
PAYDAY™ 3 launched and has reached recoup
On
RESULTS & POSITION
PAYDAY 3
With the launch completed, PAYDAY 3 now enters its next phase; live service. This means that the team focuses on continued development of both new features as well as improvements requested by our players, and frequent deliveries of new content. We know the potential we have within our existing PAYDAY community and it is our job to deliver a product that attracts new players as well as our PAYDAY 2 players. In November, two new free heists will be launched for PAYDAY 3. These are two community favorites that have been refreshed and adapted to take advantage of the possibilities in PAYDAY 3. Along with them comes new first person animations,weapons, skins and a host of improvements based on feedback from our players. Production on next year's content is already underway, with our already announced four DLCs being just a subset of what we plan to release.
PROJECT "BAXTER"
As we now scale up the development team for Baxter, primarily with employees who previously worked on the development of the base game PAYDAY 3, we ensure that we make the best use of our resources going forward. The pre-production work is proceeding according to plan, recruitment to strengthen the team with specific skills is constantly ongoing and we are of course looking forward to telling you more about the project together with our license partner. There is no intrinsic value in keeping things secret, as soon as the timing is right for us and our licensing partner, we look forward to telling - and showing more - of Project Baxter. It is, as previously mentioned, one iconic brand whose DNA is characterized by collaborative experiences and storytelling in an expansive world - in a completely new environment compared to PAYDAY but with the DNA that
THIRD PARTY PUBLISHING
During the quarter, there was a lot of focus, both internally and externally, on PAYDAY 3. Part of the publishing organization was simultaneously working on several projects that, over the short and long term, will contribute to increasing the size and breadth of our community and creating more revenue streams for
ORGANIZATION
Game development is very much an industry of human capital. As a company, it is our task to ensure that we have the right skills and that the organization is appropriate for the projects we are to deliver. During the quarter, the number of employees increased by 9 people, primarily new recruitment of specific skills for development of Project Baxter. Since the end of last year, we also have operations in the
In accordance with our strategy, we look at our game releases over long cycles, where a supporting pillar is to consistently deliver added value to our customers and generate ongoing revenue. While we are of course pleased with the reception and sales PAYDAY 3 had before and during launch, and the fact that we recouped our investment in the game early on, we are also humbled by the fact that we have a lot of hard work ahead of us. To make existing players happy, to attract new players and to deliver on the vision for PAYDAY 3 in parallel with Project Baxter and our ventures into third-party publishing. There are no shortcuts in the gaming industry, only hard and consistent work.
TOBIAS SJÖGREN, VD
Webcast
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For more information, please contact:
Tobias Sjögren, CEO
Tel: +46 0(8) - 209 229
Email: ir@starbreeze.com
This information is information that
About
Read more at www.starbreeze.com and corporate.starbreeze.com.
https://news.cision.com/starbreeze-ab/r/starbreeze-ab--publ--interim-report-january-september-2023,c3876936
https://mb.cision.com/Main/14632/3876936/2434281.pdf
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