Embracer Reports a Notable Increase in Net Sales

Embracer Group has released its financial results for the first quarter of 2022 reporting a notable increase in its net sales.

In the quarter ended June 30, the company's total net sales increased by 107% reaching SEK 7.1 billion (about $682 million). The major part of it was delivered by the Tabletop Games segment – its net sales amounted to SEK 2.6 billion ($255 million) followed by the PC and Console Games segment which saw a 2% year-on-year increase and reached SEK 2.3 billion. 

The fastest-growing sector in terms of net sales was Mobile Games – it saw a growth of 104% reaching SEK 1.5 billion ($143 million). The net sales in the Entertainment & Services segment also grew significantly – by 44% – and amounted to SEK 671 million ($64 million).

Embracer's operational EBIT in Q1 2022 was SEK 1.3 billion ($126 million), up 3% compared to the same period in the previous year. The company noted that it managed to reach record-high financial results despite a "relatively low release activity" in its PC/Console Games and Entertainment & Services segments.

Embracer also shared that it currently has over 220 ongoing game development projects including more than 25 AAA games that are planned to be released by the financial year 2025/26. The company also expects to launch two AAA games by the end of this financial year. These include the Saints Row reboot which is scheduled to release on August 23 and "another highly anticipated game" which will be announced "soon" – its release will take place in the fourth quarter of 2022.

The company also noted that a number of new games that are planned to launch in the third quarter of 2022 will be announced at Gamescom next week. In addition, the report states that one of the holding's AAA titles' development has been moved from one Embracer's studio to another. Neither the game nor the studios were mentioned by name.

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