LogInThe company earned $366 million.
Image credit: Deep Silver Dambuster Studios | Dead Island 2
Embracer Group has published a financial report for Q1 ended on June 30, reporting a 47% increase in net sales, to SEK 10.4 billion (around $957 million). The PC/Console Games segment increased by 74% year-on-year and reached SEK 3.9 billion ($366 million) thanks to Dead Island 2 and Remnant 2 released in that time.
"In the PC/Console Games segment, sales grew by 38% organically in Q1 driven by the release of Dead Island 2. Released on April 21, the game reached a sell-through of over two million units in its first month. ... Developed by Gunfire Games, Remnant II was successfully released on July 25 and sold over one million units in the first four days."
Image credit: Gunfire Games | Remnant 2
Other segments were also quite successful in Q1:
- Mobile Games: decreased by 3% to SEK 1.4 billion ($131.7 million).
- Tabletop Games: increased by 20% to SEK 3.1 billion ($291.6 million).
- Entertainment & Services: increased by 173% to SEK 1.8 billion ($167.8 million).
Embracer expects to earn SEK 7-9 billion ($641 million to $824 million) in the financial year 2023/24 from Payday 3, Warhammer 40,000: Space Marine 2, South Park: Snow Day!, Homeworld 3, Hot Wheels Unleashed 2: Turbocharged, Teardown, Alone in the Dark, and Outcast – A New Beginning.
The company is now in the process of restructuring, trying to reduce its spending. It has already closed a number of projects and studios, according to the report.
"A painful consequence of the program is that a number of talented and passionate team members have left us, or will be leaving us before the end of the financial year. We understand and respect that this is a challenging time for everyone impacted. Where we can, we will try to provide opportunities for our colleagues to transition onto other projects. Throughout the program, we are working to ensure that everyone affected receives information first."
Earlier, it was reported that the partner Embracer lost a $2 billion deal with was Saudi Arabian Savvy Games. Despite the collapse, Embracer is standing strong, based on the financial documents.
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