ENCE made 4 million turnover in 2022!

ENCE made 4 million turnover in 2022!

28. May 2023 by Andrew Williams

ENCE made around 4 million in turnover in 2022 and about 1 million of that in profit – and all without any outside investors. Finnish esports organisation ENCE has had a record-breaking year and raked in plenty of cash. This news comes at a time when other organisations like FaZe and TSM are reporting heavy losses, but ENCE is showing that things can be different and is rekindling hopes for better times in esports.

ENCE reports record profits for 2022

Last year went fantastically well for ENCE. The organisation reported a turnover of over €4 million for 2022, of which over €0.9 million was net profit, which is a significant improvement on previous years – in 2021 it was around €169,000 and in 2020 it was even a loss of €223,000. Such good news has been a rarity lately. At the moment it rather makes the impression that many organisations are in a massive crisis and have financial problems. Many large esports organisations are reporting losses, and some are struggling to stay afloat because no one wants to invest anymore.

While FaZe and TSM have already reported financial problems, Heroic has changed ownership after months of financial turmoil. Other lineups or organisations have left esports completely, including Copenhagen Flames and Tricked. But with ENCE, the opposite is true. Things have been better than ever for them. The CS:GO lineup is mainly responsible for this. ENCE parted ways with its PUBG pros and StarCraft players at the beginning of the year and decided to focus only on CS:GO and support the lineup even more.

How did ENCE manage to do that?

Especially in the first half of last year, things went extremely well for the CS:GO division. The team finished second at ESL Pro League Season 15, they finished in the top four at PGL Major Antwerp and they had another second place finish at IEM Dallas. Although they were unable to build on this success in the second half of the year, ENCE had another go at it in the second half of the year and then went on to qualify for the Major in Rio de Janeiro. The organisation’s participation in both Majors of the year and the associated revenue from the stickers contributed significantly to ENCE having its best year ever as a company.

The stickers in particular have kept the coffers ringing and ENCE has stated that they have made a seven-figure amount through them in 2022. ENCE also has the advantage of being one of the teams working with ESL under the Louvre Agreement. This gives the organisation a permanent place in two ESL Pro League seasons per year, plus a share of the revenue. With all these benefits, ENCE doesn’t need to stress about landing investments, but can sit back comfortably and enjoy the journey.