The original co-founders of Embracer Group AB ("Embracer") has notified Embracer that the restructuring, announced in connection with the private placement carried out on 7 and 8 October 2020, has been completed. Through the restructuring, the original co-founders have consolidated their shareholdings in Embracer into Lars Wingefors AB. Following the completion of the restructuring Lars Wingefors AB holds 130,836,066 shares in Embracer, divided on 26,130,102 A shares and 104,705,964 B shares, corresponding to approximately 31 percent of the shares and approximately 51 percent of the votes in Embracer.
INSIDE INFORMATION: Embracer Group AB (“Embracer”) and its subsidiaries have as previously communicated this morning entered into 13 acquisition agreements (the “Acquisitions”). The acquired businesses are, during the financial year ending 31 March 2022, expected to contribute to Embracer Group’s net sales in the range of SEK 850-1,050 million and contribute to operational EBIT in the range of SEK 300-400 million. In addition, during FY 2021/2022 the expanded studio footprint is expected to bring savings on capitalized game development in the range of SEK 50-100 million. The combined operational EBIT and savings on game development are expected to be in the range of SEK 350-500 million and this profitability is expected to grow in the following years as more game development projects will be completed.
The aggregated day one purchase price for the Acquisitions amounts to approximately SEK 2.0 billion on a cash and debt free basis. Approximately SEK 1.7 billion is paid in cash and SEK 0.3 billion in newly issued Embracer B shares with a maximum additional consideration amounting to SEK 1.8 billion, which is subject to fulfilment of agreed milestones, both operational and financial, over a period of up to 10 years. The additional consideration comprise a maximum of approximately SEK 0.9 billion which may be paid in cash and a maximum approximately SEK 0.9 billion to be paid in Embracer B shares at a price corresponding to the volume weighted average price per Embracer B share at Nasdaq First North Growth Market during 20 trading days up until and including the date of signing of the Acquisitions (VWAP 20). The aggregated maximum consideration amounts to SEK 3.8 billion.
SECOND QUARTER, JULY–SEPTEMBER 2020 (COMPARED TO JULY–SEPTEMBER 2019)
> Net sales increased by 89% to SEK 2,383.2 million (1,259.7). Net sales of the Games business area increased by 83% to SEK 1,495.4 million (816.1). THQ Nordic SEK 566.9 million (329.6), Deep Silver SEK 506.8 million (441.7), Coffee Stain SEK 129.9 million (44.7), Saber Interactive SEK 259.1 million (-) and DECA Games SEK 32.7 million (-).
> Net sales of Partner Publishing/Film business area increased by 100% to SEK 887.8 million (443.6).
> EBITDA increased by 132% to SEK 969.0 million (418.1), corresponding to an EBITDA margin of 41%.
> Operational EBIT increased by 171% to SEK 652.5 million (240.7) corresponding to an Operational EBIT margin of 27% (19%).
> Cash flow from operating activities amounted to SEK 804.7 million (284.8). Investments in intangible assets amounted to SEK 484.1 million (391.9). Free Cash Flow amounted to SEK 311.5 million (–115.8).
> Adjusted earnings per share was SEK 1.80 (0.65).
> Organic growth in constant currency for the Games Business Area amounted to 61% in the quarter.
> Total game development projects increased 57% to 135 (86). Total headcount increased 49% to 4,445 (2,981) where total game developers increased 58% to 3,593 (2,272).
The extra general meeting of Embracer Group AB ("Embracer" or the "Company") was held today on 16 November 2020 in Stockholm and the following resolutions were passed by the meeting.
The shareholders of Embracer Group AB, reg. no. 556582-6558, (the "Company") are hereby invited to the extra general meeting on Monday 16 November 2020 at 10.00 CET at Baker McKenzie's premises at Vasagatan 7 in Stockholm.
The annual general meeting 2020 (the "AGM") of Embracer Group AB ("Embracer" or the "Company") was held today on 16 September 2020 in Karlstad and the following resolutions were passed by the meeting.
Embracer Group today publishes its Annual Report for the financial year 2019/2020. The Annual Report is enclosed this press release and also available at the company’s website: https://embracer.com/investors/reports-presentations/
The shareholders of Embracer Group AB, reg. no. 556582-6558, (the "Company") are hereby invited to the annual general meeting on Wednesday 16 September 2020 at 15.00 CET at Elite Stadshotellet, Kungsgatan 22 in Karlstad.
FIRST QUARTER, APRIL–JUNE 2020 (COMPARED TO APRIL–JUNE 2019)
The Extraordinary General Meeting of Embracer Group AB (publ) held today, has elected Matthew Karch as a new board member. Matthew has a solid industry background, and for the past 19 years, Matthew has served as CEO of Saber and has grown the company from a two-person studio to one of the larger independent developers in the industry.
FOURTH QUARTER, JANUARY–MARCH 2020 (COMPARED TO JANUARY–MARCH 2019)
FULL YEAR, APRIL 2019–MARCH 2020 (COMPARED TO APRIL 2018–MARCH 2019)
The shareholders of Embracer Group AB, reg. no. 556582-6558, (the "Company") are hereby invited to the extra general meeting on Wednesday 20 May 2020 at 08.30 am CET at Baker McKenzie''s premises at Vasagatan 7 in Stockholm. The doors to the meeting will open at 08.15 am CET.
INSIDE INFORMATION: The Board of Directors of Embracer Group AB (“Embracer Group” or the “Group”) has, following its intention of a placement as communicated in the Group’s press release yesterday, resolved to issue 18,500,000 Class B shares, based on the authorization granted by Embracer's annual general meeting on September 17, 2019 (the “Directed new share issue”). The subscription price in the Directed new share issue is SEK 89.0 per share and has been determined through a so-called “accelerated book-building” procedure led by Carnegie Investment Bank AB (publ) and Joh. Berenberg, Gossler & Co. KG (“Berenberg” and jointly with Carnegie Investment Bank AB referred to as "Managers"). Embracer Group will receive gross proceeds amounting to SEK 1,646.5 million (approximately USD 164 million) through the Directed new share issue.
INSIDE INFORMATION: Embracer Group AB (“Embracer Group” or the “Group”) hereby announces its intention of a placement of approximately 5% new Class B shares (the “New shares”) through the issuance of new shares directed to institutional investors, which is intended to be carried out based on the authorization granted by the annual general meeting September 17, 2019 (the “Directed new share issue”). Embracer Group has engaged Carnegie Investment Bank and Joh. Berenberg, Gossler & Co. KG (“Berenberg”), to investigate the conditions for a placement of new
INSIDE INFORMATION: Embracer Group AB (publ) (“Embracer Group” or the “Group”) today provides a management update regarding the Group’s current business performance and comments on the impact from covid-19 on its operations.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.
On 19 February 2020 Embracer Group AB ("Embracer") entered into an agreement regarding the acquisition of the assets in Saber Interactive Inc., which was announced through a press release on 19 February 2020, for an initial purchase price of USD 150 million, on a cash and debt free basis, and a potential earn-out payment of USD 375 million. The total consideration, assuming full earn-out, thus amounts to USD 525 million. All conditions for the transaction have now been fulfilled and the transaction is thereby completed.
The extra general meeting of Embracer Group AB ("Embracer Group" or the "Company") was held today on 11 March 2020 in Karlstad, and the following resolutions were passed by the meeting.
The Extraordinary General Meeting of Embracer Group AB (publ) held today, has elected David Gardner as a new board member as of 1 April 2020. David Gardner has a solid industry background and his professional experience includes entrepreneurial and senior management positions in both Electronic Arts and Atari S.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 200 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 six operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive and DECA Games. The Group has 55 internal game development studios and is engaging more than 5,000 employees and contracted employees in more than 40 countries.