This morning at the Supercell stage, CEO Ilkka Paananen unveiled the company’s latest financial results and discussed their plans to address the declines in revenue and profits reported in the latest numbers.
The noteworthy figures include a revenue of €1.698 billion, marking a slight 4.2% decrease from 2022. The EBITDA also experienced a decline, down 8.2% from 2022, amounting to €580 million, showcasing the investments made in 2023. Additionally, the company contributed €110 million in taxes to the Finnish economy while expanding its workforce with the hiring of 175 people in 2023, resulting in a total of 525 employees by the end of the year.
Despite the decline in financials, the company described its 2023 performance as “steady.” However, it was evident from Paananen’s opening speech and the release of his latest annual blog that the company is already making plans to address these declines, with the primary focus being the restoration of faith and confidence in the company’s future prospects.
Paananen articulated that Supercell aims to become a leading games company by creating games that will be played and remembered for years to come, much like those from established companies such as Nintendo. He emphasized the need for changes to align with the ambitious vision of creating timeless games.
Regarding the plan for the future, Paananen presented two primary aspects: improving their existing games and services, as well as developing new hit games. He recognized the importance of high-quality games and emphasized that game teams have the authority to make decisions regarding the development and success of their games. He also mentioned the company’s “chaos by design” approach to new game development.
Paananen detailed significant changes ahead, comparing new game development to startups and stressing the need to restructure the company. He shared the company’s new principles, focusing on assembling game teams systematically, empowering them with decision-making authority, and promoting radical transparency to enhance accountability.
In conclusion, Paananen highlighted that the company’s focus would be on improving its games and streamlining its operations to achieve success in the future. Despite the forthcoming big changes, he did not disclose any immediate details about the company’s potential involvement with alternative app stores like Apple’s recent fee adjustments in the EU.
