Our story - Embracer Group

Operative Groups
8
Headcount
7,180
Net Sales
22,370
*=financial and operational metrics for year end FY 24/25

Strengthening the business and unlocking value, step by step

During the year, Embracer Group made significant progress in its transformation into three distinct, publicly listed companies. A key milestone in this process was the successful spin-off of Asmodee, which has been trading independently on Nasdaq Stockholm since February. Throughout the year, Embracer focused on optimizing its asset base and strengthening the foundation for long-term value creation. The Group is now in a considerably stronger and more robust financial position, supported by disciplined capital allocation, lower capex, and improved cash flow. Work continues across the organization to further enhance operational efficiency and position the Group for sustainable, long-term growth. The year also saw creative and commercial highlights. Kingdom Come: Deliverance II, released in early February, exceeded expectations in terms of early reception and performance, enhancing the value of Embracer’s IP portfolio.

Operative Groups
11
Headcount
12,069
Net Sales
42,206
*=financial and operational metrics for year end FY 23/24

New chapter set to begin

It has been a transformative year for Embracer Group. We initiated and completed a comprehensive restructuring program, which notably improved our balance between growth and cash flow generation, positioning us for the future. We released several successful PC/Console Games, including Dead Island 2 and Remnant II, and saw solid earnings growth across several segments. After year-end, we announced the intention to transform into three separate, publicly listed entities. This is a transformative and exciting step for the future, and the best is still ahead of us.

Operative Groups
12
Headcount
16,601
Net Sales
37,665
*=financial and operational metrics for year end FY 22/23

Building a stronger and more resilient group

This year we welcome two new operative groups, Freemode and Crystal Dynamics – Eidos, opening new opportunities within the Entertainment & Services segment and respectively expanding possibilities within AAA development. The most notable IP acquisition during the year is undoubtedly the rights to The Lord of the Rings and The Hobbit.

Visit “The year in brief”

Operative Groups
10
Headcount
12,760
Net Sales
17,037
*=financial and operational metrics for year end FY 21/22

We continue to build

We are happy to welcome four new operative groups. Gearbox, Easybrain, Asmodee and Dark Horse Media. This means that we strengthen our competence in, among other things, interactive entertainment, mobile games, board games, comic book publishing and production in film & TV.

Visit “The year in brief”

Operative Groups
6
Headcount
6,325
Net Sales
9,024
*=financial and operational metrics for year end FY 20/21

New friends. Again!

We welcome two new operative groups. Saber Interactive is a U.S-based developer and publisher of video games and DECA Games is an indie publisher completely focused on live operations and games as a service.

Visit “The year in brief”

Operative Groups
4*
Headcount
3,109*
Net Sales
5,249*
*=financial and operational metrics for year end FY 19/20

Investing for future growth

We continued our M&A strategy with the acquisition of a number of game publishers, development studios, game IPs and other assets. Notable acquisitions included legendary game studio Piranha Bytes, racing game developer Milestone, Darksiders developer Gunfire Games and Tarsier Studios, the developers behind Little Nightmares. Another notable acquisition was Goodbye Kansas Game Invest renamed Amplifier Games and announced as the Group’s fourth operational group, focusing on early-stage game development ventures.

We embrace change

The brand mix-up between the parent company and the subsidiary THQ Nordic GmbH has been an issue and the parent company finally becomes Embracer Group AB. We think it fits well since our mission is to embrace great companies, great people and great ideas. (We save the list of 200 other names for possible future needs…)

The family keeps growing

We were not idle this year, either, but acquired Coffee Stain, Koch Media / Deep Silver, Volition, Bugbear, Handygames and Lavapotion.

Busy year

The family grows with acquisitions of Pieces Interactive, Black Forrest Games and Experiment 101.

Operative Groups
1*
Headcount
372*
Net Sales
302 msek *
*=financial and operational metrics for year end 2016

THQ Nordic goes public

Nordic Games, both the mother company in Sweden and the Viennese subsidiary, are renamed as THQ Nordic. The move is done to capitalize on the stronger THQ-trademark, and before becoming a publicly listed company.

In November 2016, the company became a public company listed on Nasdaq First North Stockholm, Sweden.

NORDIC GAMES ACQUIRES THQ

Nordic Games acquires the American games brand THQ and the story behind the THQ Nordic AB company begins.

DARKSIDERS BRINGS LIGHT

Nordic games acquire a lot of strong IP:s from THQ Inc, included Red Faction, Darksiders, MX vs. ATV, Destroy All Humans, Titan Quest and most notably, the Darksiders franchise.

The beginning

In June 2011, Nordic Games Holding acquired the assets of insolvent publisher JoWooD Entertainment and its subsidiaries. And here is where the beginning of the Embracer Group journey starts for real.

Hitting big with karaoke

Game Outlet starts the publishing brand Nordic Games, publishing video games in niches that lacks games in the mid and low prize sector. This is the hay days of karaoke games and Nordic games hit big with the We Sing franchise on Nintendo Wii in 2009.

RESTART

After some turbulent and hard working years, during which the games business is transformed, Lars Wingefors restarts the company with a new business model. Under the name Game Outlet Europe the company leaves first day releases behind and focuses on trading all other games all over Europe. He also sells these games to a mass-market outside of the games stores. It turns out well, and the company generates a good and stable profit.

The dotcom bubble

The 22 year old Lars Wingefors operates Swedens largest independent games wholesale business, but margins are low. He brings experienced economist Erik Stenberg into the business to help attract investors and soon, British dotcom startup Gameplay acquires Lars Wingefors company for 8 million pounds, in shares. Sadly, the deal is made the same weekend that the dotcom bubble starts to implode.

Surprised this has happened

Four years after selling his first video game, Lars Wingefors is a high school drop out who operates a whole sales business in Karlstad with a revenue of 100 millions skr, about ten million GBP. ”I am still surprised this has happened”, he tells the local daily.

Swedens largest mail order

At 15 Lars has Swedens largest mail order comics business, and thinks everything is going grand, when all of a sudden his eyes fall on some used video games on a shelf in the comics store he frequently visits. They seem to sell for a lot more than comics, what if he should try that out instead?

At an early age

Turning 13 Lars Wingefors realizes something. Growing up with a single mother in a rural area, he is far from poor but also far from rich. ”If I am going to have any money, I have to fix it on my own”, he tells himself and turnes his collection of Lee Falks comic The Phantom into the start of a used comics business.