Io Interactive A/S

The income statement for 2022/23 shows a profit of DKK 267,813 thousand against a profit of DKK 188,952 thousand last year, and the balance sheet at 31 March 2023 shows equity of DKK 833,028 thousand.
FY23 revenue and profit are higher than the expectations due to “World of Assassination” (WOA) and Backlog performing better than expectation. Hitman 3 launch on Microsoft game pass back in FY22 has also brought in a considerable revenue in FY23 including the performance bonus.

IO Interactive has not released any new major products this fiscal, as we are focusing on ongoing long term production cycles.

Sales related to the back catalogue have performed as expected towards the sales budgets. This is due to ongoing initiatives to keep Hitman 1, 2 and 3 relevant through frequent patches and updates. We have also packaged the trilogy into one product that is the World of Assassination (WOA) according to the original vision, with additional DLC`s bundled into it.

The group's balance sheet as per 31st March 2023 shows equity of DKK 833 million. Management considers the result for the year to be satisfactory.

FY23 has been a year with development focus for IO Interactive. However, we are still driving sales on catalogue and focusing our attention on our internal productions and external partnerships. We are happy to see that our fans and community are still engaging with WOA, especially the Freelancer mode, which has given the players new ways to play the game. We do expect some years ahead of us, where the focus is going to be less on launching and driving product sales and much more efforts on internal projects for new products in the future. Therefore, we expect significantly more conservative results for the coming years. Furthermore, this will also have a significant impact on IO`s free cash.