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Embracer Group releases Interims Report, Stock drops 11%

Wednesday started rough for Shareholders of the Swedish Gaming Powerhouse Embracer Group. The Stock dropped 11% after opening in Sweden after the Company released their 2nd interims report for the fiscal year 2021/2022.

Here are their latest numbers:

Financial Highlights:

  • Net sales increased by 38% to SEK 3,296.4 million (2,383.2).
  • Net sales of the Games business area increased by 89% to SEK 2,831.1 million (1,495.4). THQ Nordic SEK 374.0 million (566.9), Koch Media Publishing SEK 584.7 million (506.8), Coffee Stain SEK 120.4 million (129.9), Saber Interactive SEK 462.9 million (259.1), DECA Games SEK 248.8 million (32.7), Gearbox Entertainment SEK 433.6 million (-) and Easybrain SEK 606.7 million (-).
  • Net sales of Partner Publishing/Film business area amounted to SEK 465.3 million (887.8).
  • EBITDA increased by 69% to SEK 1,640.0 million (969.0), corresponding to an EBITDA margin of 50% (41%). Remeasurement of participation in associated company Ghost Ship Games amounted to SEK 416.8 million in the quarter (and is included in reported EBITDA, but excluded from Operational EBIT).

It appears that Investors expected more and the Stock sold off on the news.

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