Embracer Group published its financial report for the fiscal year ended March 31, 2024. Here are the key points.

Alone in the Dark

  • Embracer Group ended the year with a net loss of SEK 18.17 billion ($1.7 billion). For comparison: last year, it reported a profit of SEK 4.4 billion ($415 million).
  • At the same time, annual net sales increased by 12%, reaching SEK 42.2 billion ($3.93 billion).
  • The most profitable segment remained board games, with net sales of SEK 14.8 billion ($1.38 billion), a 13% increase.
  • The second-largest segment by sales was console and PC games, with net sales of SEK 14.4 billion ($1.34 billion), a 7% increase. Of this amount, SEK 6.9 billion ($644.4 million) came from back-catalog games.
  • Embracer Group noted that Alone in the Dark and Outcast: A New Beginning did not meet expectations. However, Tomb Raider I-III Remastered and Deep Rock Galactic: Survivor performed better than the holding company had anticipated.
  • Additionally, Embracer Group boasted that more than 3 million people purchased Dead Island 2. It clarified that the 3 million figure refers to game sales, while a total of 7 million people played the zombie action game. Recall that in April, developer Dambuster Studios had already mentioned the 7 million players figure. At that time, it said that 42% of users played Dead Island 2 on PlayStation, 40% on Xbox, and 18% on the Epic Games Store. Sales figures for Dead Island 2 were not disclosed then.
  • The mobile games segment's net sales amounted to SEK 5.9 billion ($551.4 million), a 2% increase. Embracer Group's mobile games were downloaded more than 1 billion times over the year. The total MAU and DAU of games were 258 million and 31 million, respectively.
  • The entertainment and services segment, which includes non-gaming divisions such as Middle-earth Enterprises, earned SEK 7 billion ($660 million) over the year, a 34% increase.
  • In the current fiscal year, Embracer Group plans to release more than 70 games, including at least three significant unannounced titles.
  • The separation of Embracer Group into three companies—Asmodee, Coffee Stain & Friends, and Middle-earth Enterprises & Friends—is progressing as planned.
  • As of March 31, 2024, the entire holding employed a total of 12,069 people. Last year, the number of employees was significantly higher at 16,601. Embracer Group explained that it parted ways with 1,583 employees during restructuring. Another approximately 3,000 people left the holding following the sale of Saber Interactive. After the completion of the sale of Gearbox Entertainment (the deal is expected to close by the end of June 2024), Embracer Group's staff will shrink even further.


Embracer Group