Q & A

Business operations

Does Embracer provide a financial forecast?

Does Embracer communicate all acquisitions regardless of size?

No, some acquisitions without any notable contribution on Embracers operational EBIT during the coming two years will instead be communicated directly from Operative Groups or noted in future quarterly reports of Embracer. This was also communicated in our interim report Q2 21/22 (page 34)



Why doesn’t Embracer Group disclose release dates of games?

In regards to all questions about the release date of any of our upcoming titles, we refer to the publisher. As a part of our decentralized model, we trust that our developing team and publishers will communicate the release dates when they think it is ready.



How does Embracer Group approach ESG/sustainability?

In the last year (2019), we have shaped the foundation on our approach to ESG/sustainability-matters, going forward, we will continue to secure that it becomes an integral part of our everyday work throughout our global organization. Our great people are our greatest asset and that’s why we among others things, focus on our people in the ESG work. Read more about our work on ESG/Sustainability.



Do you disclose organic growth?”

Yes, starting from our Q1-report (published 13th of August 2020) we introduce organic growth as a KPI, which excludes businesses that have been acquired in the past year and is adjusted for differences in currency exchange rate.



Why do you have a limited amount of press releases between the quarter from the parent company? Why don’t you disclose release dates for all upcoming titles?

In general, we believe in communicating information that is relevant for all shareholders.

Our investor communication should be transparent, relevant, and restrained. We believe in building a long term business rather than selling shares in the short term. Without limiting our day to day operations, we should educate the financial market about the bigger picture and the strategy going forward. In general, we prefer to communicate through delivery and execution.

Regarding new releases, we do give color about the current quarter when reporting the interim reports. However, to provide exact information about all our releases dates and newly announced products would make it difficult for stakeholders to understand what financially matters for the group. Release dates for upcoming titles will be communicated from our subsidiaries, and Embracer Group will give updates when relevant in the interim reports.



What is your M&A strategy going forward?

Although acqusitive growth has been an important part of creating Embracer Group, we do not need acquisitions to grow in the future. However, we want to continue on the M&A path and add more publishers, studios and IP’s. Apart from achieving further diversification, and thus lowering the operational risk in the group, we believe we can create value by acquiring the right companies at the right price. We believe we can make acquired companies more valuable by enabling them to make more and better games. In other words, we buy to build.



Facts and information

What is the complete name of the company?

What is Embracer’s registration number?

Who is part of Embracer’s board of directors?

The composition of the board of directors is found at the website: Board & Management



When was the Embracer Group listed at the Nasdaq First North Growth Market?

Who are the auditors of Embracer Group?

The auditor of Embracer Group is Ernst & Young AB, with Johan Eklund (born in 1975) as auditor-in-charge since the 2020 annual general meeting. Johan Eklund is an authorized public accountant and member of FAR.



Does Embracer Group release quarterly reports?

Yes, you can find the dates for the reports in the calender.



Does the company have a compliance code?

The Company has adopted a Compliance code which sets out the ground rules for all companies within the Embracer Group. Read more about our code here



How can I get a printed copy of Embracer Group annual report?

Where can I find Embracer Group reports?

All Embracer Groups presentations and reports are available in Swedish and English here: https://embracer.com/investors/reports-presentations/



Where is Embracer Group´s head office?

In Karlstad, Sweden.
Embracer Group AB (publ)

Älvgatan 1

SE-652 25 Karlstad, Sweden



The Embracer Share

Where are Embracer’s shares listed?

Embracer’s B share is listed on Nasdaq First North Growth Market. Embracer’s A share is no listed.



What is Embracer’s ticker and ISIN code?

The B share is traded on Nasdaq First North Growth Market under the ticker EMBRAC B wit the ISIN code SE0016828511. The A share is not publicly listed and has ISIN code SE0016828503.



What is the difference between the A share and the B share?

The A share carries ten votes, and the B share carries one vote. A shares and B shares otherwise carry equal rights to a share in the assets and profits of the company.



Who should I contact if I would like to change information on my Embracer shares?

In most cases, the bank or the stockbroker will be able to assist you with changes (of name, address, etc.). If you are a direct-registered owner, you can also submit changes to Euroclear Sweden AB directly at:
Euroclear Sweden AB
Box 191
SE-101 23
Stockholm, Sweden



How many shareholders are there in Embracer?

Information on the company’s ownership structure is available on the website: The Share



Who are the majority shareholders in the company and how many shares do they own?

Which analysts cover Embracer?

Information on the analysts that track Embracer is available on the website: Analysts and Estimates




Are your business affected by the circumstances and effects of Covid-19?

Questions from Q4 presentation: Digital sales performing really strongly, while partner publishing performs below guidance. Can you talk a bit more about the unusual circumstances and how it has evolved under Q1?

Lars Wingefors: The whole industry has seen a significant increase in usage of games, across the world basically. That is also true for us. However, our business is partly dependant on visibility and new releases, and during the March period, we didn’t really have any significant releases to capture this trend. We saw an uptake on all digital areas but from quite a low level, because our back catalogue requires either digital sales promotions to increase their sales significantly or new releases again. And we didn’t really have that during this period. However, what we’ve seen now, from April up until today in May, is that we both had a bit of more releases performing well – I think the game itself, no matter the Covid-19 situation, would have been performing well – but I think we have been able to capture a bit of the increased usage of games. We also had a number of notable digital promotions of the back catalogue sales, especially in April.



Questions from Q4 presentation: Could you elaborate of partner publishing, what to expect in Q1?

Lars Wingefors: We need to be realistic, and most important for us is to work with our longstanding customers in order to help them to get the business up and running again after the Lockdown. This retail customer base across Europe we’ve been working with for up to 30 years, and it’s very important to us that we continue having this retail distribution landscape in Europe.
I think that is the most important thing for us.



Questions from Q4 presentation: There’s a shift to digital at the moment, but how do you feel that the effect of the ”depression” of physical is going to apply when we get new console sales, that has been physical oriented?

Lars Wingefors: Physical is already a niche market. However, customers come first, and there is still a significant amount of customers willing to buy the physical, they like the physical – as I do myself – buying the collector’s editions… I’m firm believer that the physical market, even though it’s a niche, will be here to stay for many years to come. We are staying in this market. I see the opportunity to contribute to the consolidation to make our operations efficient. So how much this shift will be after the lockdown is very hard to speculate on.



Questions from Q4 presentation: M&A, following the acquisition of Saber Interactive, would you say that you are having discussions with potential targets that you even wouldn’t have been able to imagine that you would have discussions with, a couple of years ago?

Lars Wingefors: A couple of years ago, yes definitely. I think our size in terms of ability to, both from a financial perspective, but also market cap perspective, because I would like to give part of the consideration to the entrepreneurs in shares, so they can take part of the whole group, and it def helps that we have a larger market cap today than we had a few years ago. Saber Interactive has specifically contributed to a number of new conversations that we didn’t have befre they entered the group. The more great companies you add, the more great companies could potentially join going forward. We need to make sure that we are able to manage and integrate these companies also from a parent company perspective, that’s why we have been building more organizations, in Karlstad, Stockholm and across the world, in order to operate the whole group.



Can you comment on Saber Interactive's relation with CD Projekt, since CD Projekt decided to make the Witcher 3 update in house?

With more than 12,500 people across 40 countries, our companies are business partners to most other companies in the industry in some shape or form, including an extensive list of work4hire relationships.

We have the deepest respect for CD Projekt as a company and they have proven to be one of the best game development teams globally. Regarding the specific question, we are not able to comment on the relationship with business partners.

However, without specifically commenting on any work4hire agreement, no relationship has changed that has any financial impact on the overall group revenues or profitability, at least not exceeding USD 500,000”.


Regarding the situation due to the war in Ukraine, we refer to the latest communication to all shareholders:

Update on the situation due to the war in Ukraine – Embracer



/ Investerare


Embracer Group är moderbolag till företag som leds av entreprenörer inom pc-, konsol-, mobil- och brädspel och andra relaterade medier. Koncernen har en omfattande spelportfölj med över 850 ägda eller kontrollerade varumärken.

Embracer Group har huvudkontor i Karlstad och global närvaro genom de tolv operativa koncernerna: THQ Nordic, Plaion, Coffee Stain, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment, Easybrain, Asmodee, Dark Horse, Freemode och Crystal Dynamics - Eidos Montréal. Koncernen har 131 interna studios och fler än 15 731 medarbetare och kontrakterade medarbetare i fler än 40 länder.