Embracer Group releases Q2 financial report

According to the report, sales are booming across the board, and Embracer enjoys a 35% organic growth.
Embracer group logo on a red and maroon background

Embracer Group has released the Q2 report of the 2022 – 2023 fiscal year. According to the report, Embracer’s net sales grew 190% year-on-year to SEK 9.57 billion ($910 million). PC and console games accounted for SEK 4.1 billion ($390 million) with a 107% growth year-on-year and Mobile games accounted for SEK 1.44 billion ($137 million), up 67% year-on-year.

Related: Gearbox Entertainment expands to Asia with new Studio

Embracer Group acquired Crystal Dynamics, Eidos Montreal, and Square Enix Montreal during the quarter, but even without these acquisitions, Embracer noted that 35% of its growth was organic.

The company noted that good performances across PC and consoles, especially the reboot of Saint’s Row were the driving forces behind the growth. The game’s developer, Volition will be fully integrated to Gearbox, the group stated.

Embracer also announced that it purchased the Risk of Rain IP from Hopoo Games, though the sum remains undisclosed. The transaction happened after the end of the quarter, however, so it had no effect on the report.

On the mobile games front, Embracer stated that the looming recession and some lingering effects from the changes to IDFA have impacted performances. 

Embracer has also made a voluntary debt repayment of SEK 6.2 billion ($588 million) during the quarter. The company now has 15,731 people, 10,899 of which are developers. It currently has 237 game development projects.

Embracer made two acquisitions after the end of the quarter, though these are unrelated to video games. Plaion acquired Anime Ltd, and Asmodee acquired tabletop distributor VR Group.

The company also announced the acquisitions of Middle-earth Enterprises, Limited Run, Singtrix, Tripwire Interactive, and Tuxedo Labs.

NEXT: NetEase announced Q3 2022 financial results

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