Embracer Shares Q2 Report & Sells Easybrain for $1.2 Billion

Swedish video game publisher Embracer Group revealed its report for Q2, which started in July and ended on September 30, 2024.

Compared to the same three-month period in 2023, net sales decreased by 21% to SEK 8,552 million. This number includes sales in the spheres of PC, console, mobile, and tabletop games, along with entertainment and services:

• PC and console games sales decreased by 46% to SEK 2,121 million;
• Mobile games saw a decline of 8% to SEK 1,358 million;
• Sales of tabletop games decreased by 6% to SEK 3,826 million;
• The entertainment and services sphere had a decline of 10% to SEK 1,247 million.

Organic growth amounted to -14%. The company explained that this was mainly due to few new releases and a mixed reception for releases within PC and console games.

The six-month period from April to September 2024 was also marked by a decrease in the named spheres: the sales of PC and console games decreased by 40% to SEK 4,778 million, and of mobile games by 6% to SEK 2,747 million.

Also, Embracer announced it will sell mobile developer Easybrain to Miniclip, a mobile game development company. Easybrain was a part of the Embracer Group for over three years. "As Easybrain's market is transforming, Miniclip is the right strategic buyer to enable the company to stay at the forefront of the ad-driven mobile game industry, " Lars Wingefors, co-founder and CEO of Embracer, says.

According to Embracer, the divestment of Easybrain "has a strong strategic and financial rationale, transforming the balance sheet and putting us in a stronger position to create value." The purchase price is $1.2 billion.

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