Remedy H1 2019: In a healthy state before release
Revenue was in line with our estimates during H1 2019. Remedy is in a healthy state and hired more personnel during the period than expected. EBIT, therefore, was lower than our estimates. As we discussed in our initiating report, Remedy has started to capitalize development in its own projects.
This will make it easier to compare the company valuation to peers. Remedy also stated that early negotiations have started with potential business partners for two own projects in its pipeline. We believe Sony is one of them as we wrote a few days ago.