Embracer Group Report: Sales more than doubled, 224 games in development

Swedish holding Embracer Group has published a report for the third fiscal quarter (October-December 2022). Many of the company’s key indicators have grown significantly.

▪️Net sales reached $1.12 billion, which is 128% more than a year earlier. However, the head of the holding, Lars Wingefors, noted that in the third quarter, Embracer Group’s organic growth rate went down by 3%.

Sales of console and PC games brought Embracer Group $343.7 million (+64%), sales of mobile games – $151.2 million (+2%), sales of board games — $398.6 million.

▪️Sales of Goat Simulator 3 and Evil West met the expectations of the holding.

▪️Embracer Group’s operating profit was $21.7 million. In 2021, the holding reported a loss of $24.9 million.

At the end of December, Embracer Group had 224 games in development (a year earlier there were 216 of them). The release of 94 projects should take place before March 31, 2024, five of these games will be based on the “Lord of the Rings”.