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Starbreeze's year-end report for 2023 caused a stock drop of about 15%. Higher direct costs, most likely of a one-time nature, weighed heavily on the quarter, with more than SEK20m directly linked to the server issues that occurred during the launch of Payday 3. Looking ahead, we believe that the recovery for Payday 3 will be a marathon, where it will be challenging in the near term to generate returns on the investments made in game development.
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