Embracer Group released a financial report for the year ended March 31, 2022. The Swedish holding company reported revenue growth, while sharing its new mergers and acquisitions plans and saying it now has more than 200 titles in its pipeline.
The wonders of Tiny Tina
Main lessons of the report
- Embraer group reported net sales of SEK 17 billion ($1.7 billion) for the full fiscal year ended March 31, 2022. It was up 89% year-on-year.
- Net video game sales were SEK 13.9 billion ($1.39 billion), up 116% year-on-year.
- Gearbox Entertainment had net sales of SEK 1.93 billion ($193 million).
- Koch Media’s net sales were SEK 2.49 billion ($249 million), a year-on-year increase of 20%.
- Saber Interactive reported net sales of SEK 1.69 billion ($169 million), up 43% year-over-year.
- Mobile game developer Easybrain, which joined Embracer last year, reported net sales of SEK 3.19 billion ($319 million).
- The holding company’s EBITDA was 6.13 billion Swedish kronor ($613 million), up 53.9% year-on-year.
- As of March 31, Embracer had a total workforce of 12,760, more than double the year-ago level.
- The holding company has 118 internal studios. They are currently working on 223 games, 159 of which are still unannounced.
- Embracer also plans to release over 25 AAA titles by March 2026.
Mergers and acquisitions plans
- Depreciation expense related to acquisitions was 8.53 billion Swedish krona ($853 million) for the full year.
- Speaking of the recent acquisition of Crystal Dynamics and Eidos Montreal, Embracer Group now has franchise rights like Deus Ex, grave robber, Thiefand Kain’s Legacy.
- The holding company said it sees great potential in making not just sequels, but also remakes, remasters, spinoffs and transmedia projects based on these IPs.
- Embracer noted that while it doesn’t need to make any further acquisitions to grow, it will continue to seek select M&A opportunities.
- “We have an exciting funnel of goals, with a focus on bolt-on acquisitions within existing operating groups,” said CEO Lars Wingefors. said in a press release.