Forever Entertainment Presents Record Results for Q1 2020 After Panzer Dragoon: Remake's Launch

Forever Entertainment Presents Record Results for Q1 2020 After Panzer Dragoon: Remake's Launch
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Published by Solo Wing in News

According to a report from Strefa Inwestorów, Forever Entertainment achieved more than a 150% increase in revenues and about three times the increase in all profits for Q1 2020, compared to the results from Q1 2019.

According to a Polish language financial report from Strefa Inwestorów, Forever Entertainment has experienced impressive financial results for the first quarter of 2019. According to a DeepL translation:

Published Q1 results confirm that 2020 will be a breakthrough year for Forever Entertainment. The growth of revenues and profits in Q1 2020 was achieved primarily thanks to a 200% y/y increase in revenues from product sales to PLN 5.9mn. In addition, maintaining organizational costs translated into even higher profit growth dynamics, to the highest levels in the history of the company. March 26th saw the premiere of Panzer Dragoon: Remake, and its sale has a positive impact on the company’s revenues and results throughout 2020.

It goes on to say:

FE SA achieved over 150% increase in revenues and about 3 times increase in all profits for the first quarter of 2020 compared to the results for the first quarter of 2019.

The CEO of Forever Entertainment, Zbigniew Dębicki, is quoted to have said the following about Panzer Dragoon: Remake:

The premiere of Panzer Dragoon: Remake for the Nintendo Switch console and the related profits exceeded all our expectations. It has confirmed that the decision to implement this title and enter the remake segment is a hit. We are still working on improving it and introducing it to sales on other platforms. Panzer Dragoon: Remake will therefore work for us and positively influence the company’s results for many months to come.

As reported previously, sales revenue of Panzer Dragoon: Remake already more than doubled the game’s development costs. It’s nice to see that Panzer Dragoon: Remake continues to positively affect the financial position of Forever Entertainment.

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