Paradox posts SEK 245.4M loss after Bloodlines 2 write-down

Paradox Interactive said in its year-end report that, despite revenue rising 23% and delivering its "second-best quarter ever", it recorded an operating loss of 245.4 million Swedish kronor (around $28 million) largely because of a write-down tied to Vampire: The Masquerade – Bloodlines 2.

"The profit line, or EBIT [earnings before interest and taxes] is affected by a big writedown of the game Vampire: The Masquerade – Bloodlines 2," Paradox CEO Fredrik Wester told investors.

Paradox announced last November that Bloodlines 2 hadn’t sold as hoped, prompting a 355 million kronor write-down. Absent that charge, Paradox said its profit would have been about 110 million kronor, versus 395.3 million kronor in operating profit in the same quarter last year.

Wester and CFO Alexander Bricca also cited currency moves as a headwind. "The dollar was down, I think 12% if you look at the quarter average, [the] Euro down 5, 6%—so, all in all it impacts our top line quite significantly," Bricca said.

Paradox sought to emphasise the revenue result—"On revenue, it's our second-best quarter ever!" Wester said—and added at the time of the write-down that "The responsibility lies fully with us," rather than blaming The Chinese Room studio.

PC Gamer's writer noted he enjoyed The Chinese Room’s take on Vampire: The Masquerade despite its flaws and added that he doesn’t expect Bloodlines 3 any time soon.

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