Developer and publisher Paradox Interactive has released its end of the year report for 2016, revealing a good year for the Swedish company.
Revenue for the year of 2016 increased 8 percent year-on-year, reaching 653.7m Swedish Krona ($73.7m), while operating profit increased by 27 percent compared to the same period last year, accumulating 308m Swedish Krona ($34.7m)
Specifically, in the fourth quarter (Q4) Paradox increased by 54 percent year-on-year, reaching 198.4m Swedish Krona ($22.4m), while operating profit increased by a whopping 96 percent, landing at 85.9m Swedish Krona ($9.7m).
Paradox notes most of its Q4 revenue came from titles such as: 2016 new releases Tyranny, Stellaris, Hearts of Iron IV, and older titles Cities: Skylines and Europa Universalis IV.
It also noted that five of its game landed in Steam’s 100 best selling games of 2016: Stellaris, Cities: Skylines, Hearts of Iron IV, Europa Universalis IV and Crusader Kings II.
Paradox CEO Fredik Wester accompanied the report with the following statement:
“We’ve reached years end and can now see that our fourth quarter has closed much in the same way as the year at large – with a steady growth in turnover and profit compared to last year.”
“We are cash flow positive and already have a good cash position, enabling us to do larger investments and look at interesting acquisitions. However, it’s important to stress that we are in no hurry, making the right decisions for Paradox of today and Paradox of tomorrow is the priority above all.”
“We continuously release expansions and new content to our active game titles. During the 4th quarter we released the first two larger expansions for both Stellaris and Hearts of Iron IV. Stellaris: Leviathans and Hearts of Iron IV: Together for Victory have both contributed to an increased monthly activity in their respective games while the active dialogue between our development teams and the community has contributed to a general increase of engagement for Paradox in all of our channels.”