Paradox reports "best" financial year in its history for 2019

Paradox reports "best" financial year in its history for 2019

Swedish games firm Paradox Interactive saw its best financial year in 2019.

In the company's report for the year ending December 31st, 2019, CEO Ebba Ljungerud said that it had made record revenue and profit during the last fiscal year. Paradox brought in kr1.3bn ($128.9m) in revenue during 2019, an increase of 14 per cent year-on-year, while profit before tax saw a three per cent rise, hitting kr476m ($46.7m).

In 2019, the company maintained its strategy of publishing titles which have a long lifetime, with plenty of revenue coming in from expansions, DLC and other post-launch content. Paradox, historically a PC-centric company, increased its focus on the console market, too, lifting the ceiling on the money it can make.

"2019 has mainly been about building for the future," Ljungerud wrote.

"Over the past twelve months, we have invested more than ever in game development as well as marketing and organisation. Only a small part of this year's investments has been for games that were launched and have generated revenue in 2019. Instead, they are investments in future projects, i.e., games that we intend to release and see revenues from in the coming years. We have been in a strong development phase during the past year, which means that margins for the period are held back. Therefore, we are extremely proud, despite these factors, to deliver a record high result."

Paradox recently put more than 20 of its games into a Steam sale in order to raise money for coronavirus relief. At the end of 2019, the company saw an increase of 30 per cent in monthly active users

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