Remnant II

Embracer Group Q1 Interim Report: FY 2023/24

The Embracer Group Q1 Interim Report for the 2023/24 fiscal year outlines the company’s financial performance and strategic restructuring efforts during the period of April to June 2023.

• Embracer Group is executing a restructuring program targeting SEK 2.9 billion in annual capital expenditure savings and SEK 0.8 billion in annual overhead savings by the end of the 2024/25 fiscal year.
• The company aims to reduce net debt to below SEK 8.0 billion by the end of the 2023/24 fiscal year through project consolidation and a new group-wide investment greenlighting process.
• Q1 net sales reached SEK 10,450 million, a 47% year-over-year increase, while adjusted EBIT rose 27% to SEK 1,673 million.