My friend and fellow EVE Online blogger, Noizy, alerted us to this report on an Icelandic news website: http://vb.is/frettir/hagnadur-ccp-aldrei-meiri/125413/
The company yielded US$20.7 million profit last year, equivalent to about 2.7 billion ISK. In 2014 the company generated a loss of 8.7 billion ISK, but this year was a great [return on] investment. Dismissing the game World of Darkness had a significant impact on the income statement. According to CCP, the company's profit, cash balance and financial position has never been stronger.
CCP sales declined by $2.9 million compared to last year - it was $65.7 million last year. Operating profit amounted to $20.6 million and EBITDA was $31 million, compared to $9.7 million in 2014.
The balance sheet was also transformed last year. At the beginning of the year, equity was negative $15.3 million, but this year accounted to a positive $35.5 million. Liabilities decreased by over $4 million and stood at $44.4 million at year-end. Assets amounted to $79.9 million by year-end, of which cash was $56.2 million.
In November of last year, it was reported that the enterprise fund New Enterprise Associates invested new equity in CCP Games in the amount of $30 million, or almost 4 billion ISK in cash.
In a nutshell, revenue went down 4 percent (insert the obligatory "OH MY GOD - EVE IS DYING!" alarmist statement here), but profits tripled, compared to last year.
By taking the burden of the ill-fated World of Darkness project off the back of the company, CCP's financial condition improved dramatically from a very negative to a very positive position. Obviously, this has encouraged outside investment, especially with the potential of EVE: Valkyrie and other virtual reality offerings poised to generate potentially significant revenues next year.
The business condition and outlook for CCP Games has never been brighter. Kudos to the entire management team - you made some tough decisions and they are obviously paying off.
To those negative naysayers who feel strangely compelled to issue a never-ending litany of dire "EVE is dying" and "CCP is doomed" warnings, please put a sock in it. CCP is making good money, and won't be going away anytime soon.
Who'd a' thunk it?
Fly safe! o7