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Starbreeze CEO hails 'turnaround' as Payday drives profit

More Payday 2 DLC on the way following new deal with publisher 505 Games

The success of Payday 2 has driven a turnaround for Starbreeze, according to the Swedish development studio's chief executive.

In the six months ended December 31, pre-tax profit amounted to SEK 103.7 million (£9,600,000). "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).

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"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.

"As a first step towards this goal, The Board is pursuing a list change to First North, with the future goal being a listing on Nasdaq OMX Small Cap list."

Net sales during the sixth month period rose from SEK 25.8 million (£2,375,000) a year earlier to SEK 130.4 million (£12,000,000).

Klint claimed 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 beyond an initially agreed total of five game add-ons.

"The new improved contract, worth six million US dollars, gives us the security to, for the next 20 months, focus on developing and refining Payday 2 so that it becomes the best co-operative gaming experience available on the market, with many more add-on packages and other exciting events planned." Klint said.

He also noted that Brothers - A Tale of Two Sons has "finally begun to generate royalty income for the company", while the original Payday: The Heist "continues to generate new interest and new revenue streams".

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