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Henrik Roos on Simbin Financial Troubles & Future

Henrik Roos on Simbin Financial Troubles & Future

A few days ago, an article in the Swedish newspaper Expressen stated that Simbin is in serious financial trouble as board member & investor Peter Wallenberg pulled out of the company following licensing issues and unsuccessful business ventures such as the expansion to the Xbox 360 gaming platform.

The article mentions developments costs between 50 to 100 million Swedish kronor (5-10 million Euros) that have been funded by investors such as Wallenberg and suggested major debt at Simbin following Wallenberg’s departure.

Now, Simbin CEO Henrik Roos has responded to the matter in an interview with Realtid.se, offering some perspective on the Expressen article. Roos clarifies that even though Simbin suffered from the economic crisis as have most companies, the company’s financial situation is not as bad as¬†reported earlier.

Despite dropping sales from 66.5 million kronor (6,5 million Euros) in 2008 to 24 million (2,4 million Euros) in 2009, the company has gone through reorganisation and has secured more than four million Euros of new capital for future business.

Regarding the future, Roos confirms that Simbin will be releasing an all-new title in the fall of 2011, featuring a brand-new graphics engine. Since no releases are planned beforehand, we can be sure that this is new the GTR title that Simbin announced back in March.