Interim report January – March 2022
FIRST QUARTER
Revenues amounted to MSEK 476.1 (MSEK 364.5), an increase by 31 % compared to the same period last year.
Operating profit amounted to MSEK 208.5 (MSEK 92.5), an increase by 125 %.
Profit after financial items amounted to MSEK 207.7 (MSEK 91.6), and profit after tax amounted to MSEK 168.6 (MSEK 76.7).
Cash flow from operating activities amounted to MSEK 236.6 (MSEK 145.7), and cash flow from investing activities amounted to MSEK -157.4 (MSEK -189.2).
By the end of the period cash amounted to MSEK 671.2 (MSEK 717.6).
Earnings per share before dilution amounted to SEK 1.60 (SEK 0.73) and after dilution SEK 1.59 (SEK 0.72).
Revenues in the quarter are mainly attributable to Cities: Skylines, Crusader Kings III, Europa Universalis IV, Hearts of Iron IV and Stellaris.
IMPORTANT EVENTS IN THE FIRST QUARTER
Crusader Kings III is released on Xbox Series X|S and PlayStation 5.
Crusader Kings III hits two million sales mark.
New downloadable content for the following games was released during the quarter; Royal Court for Crusader Kings III, Airports for Cities: Skylines and Perfect Storm for Prison Architect.
AFTER THE END OF THE PERIOD
No significant events have occurred after the end of the period.
COMMENT BY THE CEO
We have had good momentum into 2022 with important reinforcements of our gaming portfolio. More specifically, the first months of the year have been characterised by deepening our important strategy and management games with both small and large releases. Simultaneously, we have been able to broaden our strategy portfolio with a console port for Crusader Kings III, which helps our valuable Grand Strategy genre to reach new audiences. The quarter’s releases and good cost control results in the highest profit we have ever had in a single quarter. This testifies to the strength of our business and that the changes we are making have an effect. The result shows that we are on the right course, although there is a conviction throughout the organisation that we can do even better in the long term.
Fredrik Wester, CEO
PRESENTATION OF REPORT
3 May 12:00 PM CEST Fredrik Wester and Alexander Bricca will host a livestream on Paradox’s YouTube channel to present the quarter’s and the full year’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 03-05-2022 08:00 CET.