Starbreeze: Turnaround Enters the Second Half - Redeye

In July Redeye resumed its coverage on Starbreeze. This is an English version of the research update published on July 9. Starbreeze has a solid foundation to stand on after the company strengthened its cash position through its shareholders and has secured a good publishing agreement together with Koch Media. Redeye expects Starbreeze will receive stable cash flows until the release of Payday 3 in 2023 from its co-publisher and continued Payday 2 sales. Payday 3 will be released on more platforms than PC already at release, unlike its predecessor which is expected to increase sales. Other significant drivers for higher sales are the brand’s increased strength since 2013, a higher development and marketing budget, and a significantly larger gaming market.

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