Embracer Group, sales of $3.9 billion in 2023 but debts are still high

Embracer Group announced a 12% increase in sales overall during the last fiscal year, reaching i 3.9 billion dollars. The company, however, still has 1.5 billion in debt.

Embracer Group recently revealed its intention to split into three different companies in an attempt to regain competitiveness and efficiency after cutting over 1400 jobsclosed several studios and sold others.

Specifically, the company stated:

• Net sales of $3.9 billion (+12%)
• PC and console games: $1.3 billion (+7%)
• Mobile games: $550.9 million (+2%)
• Board games: $1.4 million (+13%)
• Entertainment and services: $662.9 million (+34%)
• Net debt: $1.53 billion

Tomb Raider 1-3 Remastered and Deep Rock Galactic: Survivor did well during the last quarter, while Alone in the Dark and South Park: Snow Day appear to have achieved mixed results.

Regarding the new fiscal year, the company is focusing heavily on Kingdom Come: Deliverance 2 and Killing Floor 3which according to estimates have the potential to repeat the success of Dead Island 2, with its 3 million copies sold, and Remnant 2.

The future of Embracer

Embracer Group counts on publish more than seventy games by March 31, 2025, of which at least three have not yet been announced. The intention is to produce more titles for PC and large consoles, both established and new intellectual properties.

“It has been a transformative year for Embracer,” said CEO Lars Wingefors. “The restructuring program, now successfully completed, has created a stronger foundation for improving profitability, cash flows and long-term value creation.”

“Over the last year our companies and studios have had to part ways with team members. These have been difficult but necessary decisions, and it has been important to move forward with changes with compassion, respect and integrity for those involved. “

“After the restructuring, we will strive to make continuous improvements within our day-to-day business, in order to further improve operational efficiency and capital allocation.”