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Paradox Interactive has released its end of year report for 2016 and the Swedish games publisher is in rude health. Revenue for Q4 increased by 56 per cent year-on-year, reaching 198.4m Swedish Krona [17.8m], while operating profit for Q4 increased by 96 per cent year-on-year, reaching 85.9m Swedish Krona [7.7m].

Most of its Q4 revenue came from titles such as Cities: Skylines, Stellaris, Hearts of Iron IV, Europa Universalis IV and Tyranny, Paradox notes.

Meanwhile, revenue for the whole year of 2016 increased by 8 per cent year-on-year, hitting 653.7m Swedish Krona [58.8m], while operating profit amounted to 308m Swedish Krona [277m], an increase of 27 per cent year-on-year.

"We’ve reached years end and can now see that our fourth quarter has closed much in the same way as the year at large – with a steady growth in turnover and profit compared to last year," Paradox CEO Fredik Wester said in a statement.

"Steam, our largest distribution partners, released a top list in the end of December with the 100 best selling games of 2016. Paradox had no less than 5 titles on the list (Stellaris, Cities: Skylines, Hearts of Iron IV, Europa Universalis IV and Crusader Kings II), a clear indication of the strength and range in our portfolio.

"We are cash flow positive and already have a good cash position, enabling us to do larger investments and look at interesting acquisitions. However, it’s important to stress that we are in no hurry, making the right decisions for Paradox of today and Paradox of tomorrow is the priority above all."

He added: "We continuously release expansions and new content to our active game titles. During the 4th quarter we released the first two larger expansions for both Stellaris and Hearts of Iron IV. Stellaris: Leviathans and Hearts of Iron IV: Together for Victory have both contributed to an increased monthly activity in their respective games while the active dialogue between our development teams and the community has contributed to a general increase of engagement for Paradox in all of our channels."