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Interim report January – March 2023

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FIRST QUARTER
  • Revenues amounted to MSEK 482.8 (MSEK 476.1), an increase by 1 % compared to the same period last year.
  • Operating profit amounted to MSEK 155.7 (MSEK 208.5), a decrease by 25 %.
  • Profit after financial items amounted to MSEK 157.1 (MSEK 207.7), and profit after tax amounted to MSEK 123.7 (MSEK 168.5).
  • Cash flow from operating activities amounted to MSEK 244.6 (MSEK 236.4), and cash flow from investing activities amounted to MSEK -170.1 (MSEK -157.4).
  • By the end of the period cash amounted to MSEK 812.7 (MSEK 671.2).
  • Earnings per share before dilution amounted to SEK 1.17 (SEK 1.60) and after dilution SEK 1.16 (SEK 1.59).
  • Revenues in the quarter are mainly attributable to Cities: Skylines, Crusader Kings III, Hearts of Iron IV, Stellaris, and Victoria 3.
IMPORTANT EVENTS IN THE FIRST QUARTER
  • Surviving the Abyss developed by Rocket Flair Studios was released in Early Access and Knights of Pen and Paper 3 developed by Kyy Games was released to PC. Both games were published by Paradox Arc.
  • Cities: Skylines – Remastered was released to Playstation 5 and Xbox Series X|S.
  • New downloadable content for the following games was released during the quarter; Jungle Pack for Prison Architect, First Contact for Stellaris, The Wolf Wars for Across the Obelisk and Rebirth for Surviving the Aftermath. 
  • New ports of downloadable content were released during the quarter; Overlord for Stellaris: Console Edition.   
  • Paradox Announcement Show was held, and three new games were announced; Cities: Skylines II developed by Colossal Order, Life By You developed by Paradox Tectonic and The Lamplighters League developed by Harebrained Schemes.
  • Age of Wonders 4, a new game developed by Triumph Studios, was announced in the quarter.
COMMENT BY THE CEO

2023 is a year of enthusiasm and anticipation for us at Paradox. In the first quarter, we announced a number of exciting titles from our pipeline that are to be released this year. To say the least, there is a lot for both Paradox and our players to look forward to.

2023 is also a year when we return to a more normal state for Paradox, where there will be significant variations between quarters in terms of releases. This is apparent in the first quarter, which is in the lower end of the spectrum. We had fewer major releases of downloadable content, which combined with amortisations for two experimental titles and that we took more development projects as direct costs resulted in a lower result, when compared to quarters with larger releases. Although we have added a lot of great content to the game catalogue, this emphasises the importance of continuing working on our release cadence for new content for active games.

Fredrik Wester, CEO of Paradox Interactive

PRESENTATION OF REPORT

27 April 12:00 PM CEST Fredrik Wester, CEO, and Alexander Bricca, CFO, will host a livestream on Paradox’s YouTube channel to present the quarter’s results, and answer questions related to the report and the company’s financial performance, https://www.youtube.com/paradoxinteractive.

Questions may be submitted in advance via our forum or by e-mailing them to ir@paradoxinteractive.com. It will be possible to e-mail questions to ir@paradoxinteractive.com during the presentation.

If you miss the presentation, it will be posted on Paradox’s YouTube channel at a later time.

 

This disclosure contains information that Paradox Interactive AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-04-2023 08:00 CET.

For additional information, please contact:
Fredrik Wester, CEO Paradox Interactive
Alexander Bricca, CFO Paradox Interactive
Email: ir@paradoxinteractive.com
Phone: +4670-355 54 18

About Paradox Interactive
The Paradox group today consists of both publishing and internal development of games and brands. Paradox has a broad portfolio of games owns the most important brands, including Stellaris, Europa Universalis, Hearts of Iron, Crusader Kings, Cities: Skylines, Prison Architect, Victoria, Age of Wonders and the World of Darkness catalogue of brands. Since 2004, the company has published its games all over the world, initially through physical distribution but primarily in digital channels after 2006. Paradox games are developed primarily for PC and console platforms, but the company also releases games on mobile. The largest markets today include the US, UK, China, Germany, France and Scandinavia. In total, Paradox games have over five million players each month.

Paradox Interactive AB (publ)’s shares are listed on Nasdaq Stockholm First North Premier under ticker PDX. Certified Advisor: FNCA Sweden AB. For more information, please visit www.paradoxinteractive.com.

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