Analysts and Estimates

The estimates presented are delivered from Infront and based on predictions made by analysts who cover Embracer Group. We would like to point out that these analysts' estimates, forecasts, or opinions are theirs alone and do not represent Embracer Group or its management. This means that Embracer Group cannot guarantee and does not take responsibility for the information being correct, complete and up to date.


Company NamePhoneMail
Berenberg Benjamin May+44 20 346 52
BernsteinMatti Littunen+44 207 170 50
Pareto SecuritiesMarlon Värnik
RedeyeTomas Otterbeckn/
ABG Sundal CollierSimon Jönsson+46 8 566 286
CitiThomas A Singlehurst+44 20 7986
Kepler CheuvreuxMathias Lundberg+46 73 053 26
Goldman Sachs InternationalAlexander Duval +44(20)7552-2995
HSBC Bank plcAli Naqvi
DNB Bank ASAMartin Arnell
Exane BNP ParibasNicolas
BofA SecuritiesChirag Vadhia+44 (0) 20 7996 1050
SEBJesper Birch-Jensen +46 8 763 70 39

Note: Redeye and ABG Sundal Collier are commissioned by Embracer Group.

Consensus Estimates


Number of contributors: 15

Consensus recommendation

Buy 9
Hold 1
Sell 1

Note: The two commissioned research analysts, Redeye and ABG Sundal Collier, do not have any buy, hold, or sell recommendation


Estimates are continually updated by Infront.
The consensus estimates show the median value.


Operational D&A: Depreciation and amortization less M&A-related D&A.
M&A-related D&A: Depreciation and amortization relating to acquisitions.
Operational EBIT: EBIT excluding M&A-related D&A.


Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. The Group has an extensive catalogue of over 250 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency and World War Z amongst many others.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eight operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest AB, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. The Group has 86 internal game development studios and is engaging more than 9,000 employees and contracted employees in more than 40 countries.