Dark Horse

Embracer Group Q4 & Full Year Report FY 2022/23

Embracer Group’s fiscal year 2022/23 was defined by aggressive expansion and structural transformation, resulting in a 121% increase in net sales to SEK 37.7 billion.

• Embracer Group reported a 121% increase in net sales to SEK 37.7 billion for FY 2022/23, driven by major acquisitions including Asmodee, Dark Horse Media, and Limited Run Games.
• The company revised its FY 2023/24 Adjusted EBIT forecast downward to SEK 7–9 billion following project delays and the collapse of a $2 billion strategic partnership.
• Despite annual net profits of SEK 4,462 million, the company recorded a quarterly EBIT loss of SEK 95 million, highlighting volatility in its current business model.

Embracer Group Interim Report Q2: July–September 2022

Embracer Group experienced substantial expansion during the second quarter of the 2022/23 financial year, reporting net sales of SEK 9,569 million, a 190% increase compared to the same period in the previous year.

• Embracer Group reported Q2 net sales of SEK 9,569 million, representing a 190% year-over-year increase driven by 35% organic growth and major acquisitions including Square Enix assets, Dark Horse, and Asmodee.
• The company lowered its full-year Adjusted EBIT forecast to a range of SEK 8,000–10,000 million, citing macroeconomic headwinds, mixed performance of new game releases, and rising user acquisition costs in the mobile segment.
• Management has initiated a comprehensive business review to optimize long-term value, which may include structural spin-offs to address the complexities of its rapid, acquisition-led expansion.

Embracer Group Interim Report: Q1 April-June 2022

Embracer Group’s financial results for the first quarter of the 2022/23 fiscal year reflect a period of aggressive expansion and structural transition.

Embracer Group Q4 FY21/22 Interim Report

Embracer Group achieved substantial financial expansion during the fourth quarter of the 2021/2022 fiscal year, characterized by a 117 percent year-over-year increase in net sales to SEK 5,229 million and a 17 percent rise in operational EBIT.

• Embracer Group reported a 117% year-over-year increase in Q4 FY21/22 net sales to SEK 5,229 million, alongside a 17% rise in operational EBIT.
• The company projects significant organic growth for FY22/23, with operational EBIT forecasts ranging between SEK 9,200 million and 11,300 million.
• The development pipeline currently includes over 223 projects, featuring more than 25 AAA titles and a threefold increase in accumulated investment for PC and console games.

Embracer Group 21/22 Q4 & Full Year Report

Embracer Group’s fiscal year 2021/22 was defined by a transformative expansion strategy, characterized by aggressive mergers and acquisitions that significantly scaled the company’s global footprint.

• Embracer Group achieved an 89% increase in net sales to SEK 17.0 billion for fiscal year 2021/22, driven by an aggressive M&A strategy.
• The company reported a net loss of SEK 4.3 billion, primarily due to significant amortization and depreciation expenses resulting from its rapid acquisition cycle.
• As of the end of the fiscal year, the organization expanded to include 119 internal studios, over 850 owned franchises, and a development pipeline of more than 200 active projects.

Embracer Group Interim Report: Q3 2021/22

Embracer Group’s fiscal third quarter of 2021/22 reflects a period of aggressive expansion and structural transformation, characterized by a 135% surge in net sales to SEK 5,085 million.