Shulou(Shulou.com)11/24 Report--

CTOnews.com May 25 news, large game group Embracer Group announced the company's financial results for the whole year of 2022 Lex23, showing an overall increase in net sales.

Most of the company's fourth-quarter and full-year growth came from the board games business, led by Asmodee, and despite solid sales, co-founder and group CEO Lars Wingefors described the 12 months as a "challenging year", saying the company was affected by game delays, weak consumer demand and "lacklustre response to some important releases". The release date has also been changing, which means that a number of games that are likely to generate net sales of more than 1 billion Swedish kronor (CTOnews.com) are now postponed to March 31, 2025.

Wingefors, ▲ Touyuan Embracer's website, explained that he and his team had learned that an important strategic partnership they had negotiated for seven months would now fail-although Embracer received verbal promises as early as October. Affected by the news, the group's shares fell more than 40%.

He added: "FY24 2023 is not a year for us to maximize the value of Embracer-but we will continue to take important steps to lay the foundation for the next few years." As a result, Embracer has lowered its adjusted earnings before interest and tax (EBIT) forecast for the current fiscal year to a swing between SEK 7 billion and SEK 9 billion.

▲ Image Source EPIC Game Store

▲ Picture Source STEAM Game Store according to financial data, the best seller in the most recent quarter was SpongeBob: the swing of the Universe, which initially fell short of management expectations, but the company expects it to have a "long revenue period." As for "Mafia Saints: restart", the company said the return on investment was also lower than expected. CTOnews.com attached financial report data as follows:

Fourth quarter (3 months ended March 31, 2023)

Net sales: 9.4 billion Swedish kronor ($879.4 million, up 79 per cent from a year earlier)

PC / console games: 3.5 billion Swedish kronor ($327.4 million, up 66 per cent)

Mobile: 1.3 billion Swedish kronor ($121.6 million, down 25 per cent)

Full year (12 months ending March 31, 2023)

Net sales: 37.7 billion Swedish kronor ($3.5 billion, up 121%)

PC / console games: 13.4 billion Swedish kronor ($1.3 billion, up 58 per cent)

Mobile: 5.9 billion Swedish kronor (US $552 million, up 19%)

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