Tomb Raider

Embracer Group Annual General Meeting 2026

The Embracer Group 2026 Annual General Meeting documentation outlines a strategic corporate restructuring aimed at transitioning the organization from a single entity into a collection of independent, listed companies.

• Embracer Group is undergoing a structural split into independent, listed companies, starting with the spin-off of Fellowship Entertainment to increase operational agility.
• Fiscal year 2025/26 net sales fell 25% year-over-year to SEK 15.9 billion, primarily due to a lack of major title releases and recent divestments.
• The company reported a strong financial foundation with a net cash position of SEK 5.0 billion and an adjusted EBIT margin of 6% for the 2025/26 period.

Embracer Group Annual Report 2024/25

The 2024/25 fiscal year for Embracer Group represents a definitive pivot from an aggressive, acquisition-heavy growth strategy toward a leaner, decentralized structure.

• Embracer Group is splitting into three independent, publicly listed entities—Asmodee Group, Coffee Stain Group, and Fellowship Entertainment—with the separation process expected to conclude by the end of 2025.
• The company achieved a net profit of SEK 5,963 million in the 2024/25 fiscal year, a significant recovery from the previous year's loss of SEK 18,178 million.
• Strategic divestments, including the sales of Gearbox Entertainment and Easybrain, were primary drivers of the group's financial turnaround.

Embracer Group Annual Report 2023/24

The Embracer Group’s 2023/24 fiscal year was defined by a fundamental strategic pivot from aggressive acquisition-led expansion to a comprehensive restructuring program aimed at deleveraging and operational streamlining.

• Embracer Group is splitting into three independent, publicly listed companies: Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends.
• The company reported a net loss of SEK 18,177 million for the 2023/24 fiscal year, driven by SEK 22.5 billion in goodwill impairments and divestment costs.
• Despite the net loss, the company achieved record net sales of SEK 42.2 billion and an 11% increase in adjusted EBIT.

Q2 2024 Financial Results

The second quarter 2024 financial results for the organization reveal a period of strategic transition characterized by a slight decline in revenue alongside a significant recovery in profitability.

• The company achieved a net profit of $15 million in Q2 2024, a significant turnaround from the $1 million loss reported in the previous quarter.
• Revenue reached $106 million, representing an 8% year-over-year decline, while adjusted EBITDA improved to $16 million from a negative $3 million in Q1 2024.
• The Hero Wars franchise remains the primary revenue driver, accounting for 89% of total earnings across its Alliance and Dominion Era titles.

Square Enix Holdings Financial Results Briefing: FY2022/3

Square Enix Holdings reported strong financial performance for the fiscal year ended March 31, 2022, achieving record-high net sales and operating income.

• Square Enix achieved record-high financial results for FY2022/3, reporting net sales of ¥365.2 billion and operating income of ¥59.2 billion, representing year-over-year increases of ¥32.7 billion and ¥12 billion, respectively.
• Growth was primarily driven by the Digital Entertainment segment, specifically strong subscriber growth and expansion content for the MMO title Final Fantasy XIV.
• The company sold its Tomb Raider and Deus Ex franchises and select overseas studios to Embracer Group for $300 million to focus capital on core development and new intellectual property.

Square Enix Holdings Financial Results Briefing: Fiscal Year Ended March 31, 2019

Square Enix Holdings reported financial results for the fiscal year ended March 31, 2019, characterized by a divergence between top-line growth and bottom-line contraction.

Square Enix Holdings Financial Results: Fiscal Year Ended March 31, 2019

Square Enix Holdings reported financial results for the fiscal year ended March 31, 2019, reflecting a period of revenue growth tempered by declining operating margins.

• Square Enix reported net sales of 271.0 billion yen for the fiscal year ended March 31, 2019, but operating income fell significantly to 24.5 billion yen, down from 38.1 billion yen in the previous year.
• The Digital Entertainment segment, the company's largest revenue driver, saw operating income drop from 43.4 billion yen to 29.0 billion yen, resulting in an operating margin contraction of 8.5 percentage points to 14.2%.
• Digital sales in the HD games segment have grown by an annual average of approximately 40% over the past five years, with digital downloads accounting for 40% of total HD sales in FY2019/3.

Square Enix Holdings 3Q FY2019/3 Financial Results Briefing

Square Enix Holdings reported a challenging financial performance for the nine-month period ending December 31, 2018.

Square Enix Holdings Nine-Month Period Financial Results: Ended December 31, 2018

Square Enix Holdings reported a challenging financial performance for the nine-month period ending December 31, 2018, characterized by a significant decline in profitability compared to the same period in the previous fiscal year.

• Square Enix reported a significant decline in financial performance for the nine-month period ending December 31, 2018, with net sales falling to 179.0 billion yen and operating income dropping to 11.7 billion yen, a 22.0 billion yen decrease year-over-year.
• The Digital Entertainment segment, the company's primary revenue driver, saw operating income plummet to 1.6 billion yen in the third quarter of FY2019, down from 7.9 billion yen in the same period the previous year.
• HD game performance was mixed; while titles like 'Shadow of the Tomb Raider' and 'Just Cause 4' bolstered sales, overall profits were suppressed by increased development amortization and higher advertising expenditures.

Financial Results Briefing Session: Six-Month Period Ended September 30, 2018

The financial results for the six-month period ending September 30, 2018, reflect a challenging fiscal environment for Square Enix Holdings Co., Ltd. compared to the same period in the previous year.

• Square Enix reported a decline in performance for the six-month period ending September 30, 2018, with net sales falling to 112.2 billion yen (down 19.8 billion yen YoY) and operating income dropping to 10.0 billion yen (down 15.8 billion yen YoY).
• Luminous Productions, a wholly-owned subsidiary, recorded an extraordinary loss of 3.733 billion yen due to a strategic shift toward focusing exclusively on large-scale, high-quality AAA titles.
• The Digital Entertainment segment for smart devices and PC browsers saw a decline in both net sales and operating profit, attributed to the underperformance of titles launched in the previous fiscal year and reduced license income.

Square Enix Holdings 1Q FY2019/3 Financial Results Briefing

Square Enix Holdings reported a decline in financial performance for the first quarter of the fiscal year ending March 31, 2019.

Financial Results Briefing: Fiscal Year Ended March 31, 2018

Square Enix Holdings reported its financial results for the fiscal year ended March 31, 2018, highlighting a period of strategic transition toward digital-first revenue streams.

• Square Enix reported FY2018 net sales of ¥250.3 billion, a 2.5% decrease, while operating income grew 22.0% to ¥38.1 billion and net income rose 28.9% to ¥25.8 billion.
• The company set medium-term targets for the fiscal year ending March 31, 2020, aiming for ¥300–400 billion in net sales and ¥40–50 billion in operating income.
• Growth was driven by high-margin digital catalog sales, specifically NieR:Automata, and expansion packs for MMO titles Final Fantasy XIV and Dragon Quest X.