CCP contemplates IPO

Eve Online developer CCP Games is mulling over a potential initial public offering on the back of continued growth in 2011.

The Icelandic company brought in $66 million in revenue last year and has “very healthy” profit margins, CEO Hilmar Pétursson told TechCrunch.

Eve Online’s subscriber base has grown each year since the MMOG’s launch in 2003 and currently totals about 400,000. The report says revenue from the game has increased at a compound annual growth rate of 53 per cent, generating $300 million over the course of its lifetime.

“We want to be ready for an IPO from a policy standpoint,” said Pétursson, who predicted 2012 will be CCP’s biggest year yet. “We’re quite a substantial company, so we’re thinking, ‘Okay, what is the next step?’”

Last October, CCP announced plans to make a 20 per cent reduction to the company's headcount as it struggled to sustain a number of simultaneous projects including Eve expansions, console MMOFPS Dust 514 and MMOG World Of Darkness. According to TechCrunch, CCP currently employs 450 staff.