Embracer Group has released its financial statement for both the last fiscal year and the final quarter of said year, and it includes a tease for the impressive amount of projects the group currently has in its pipeline.
According to an Embracer press release, the group has more than 70 projects in the works across its many subsidiaries right now, and that number includes “at least three important unannounced titles”.
Those projects are slated to be released across the next financial year, which ends in March 2025. The lineup includes games like Kingdom Come: Deliverance 2, which was announced recently, as well as Killing Floor 3.
Embracer says that across the year, it saw a 12% increase in sales, driven largely by its tabletop and entertainment sectors (although its gaming sectors also returned modest sales increases).
In gaming terms, those increases were driven by Tomb Raider 1-3 Remastered, which Embracer says “performed above management expectations”, as well as Star Wars: Battlefront Classic Collection, which sold well despite the controversy surrounding its release.
Another big earner for Embracer was Deep Rock Galactic: Survivor, with the Vampire Survivors-esque Deep Rock Galactic spinoff outperforming management’s expectations.
It’s not all sunshine and roses, though. Some of the games released during this period underperformed, according to Embracer, including survival horror reboot Alone in the Dark and Outcast: A New Beginning, a sequel to the 1999 cult classic open-world adventure.
Earlier this year, Embracer announced its intention to split into three separate entities: Coffee Stain and Friends, Middle-earth Enterprises and Friends, and Asmodee (the latter of which will inherit a pretty hefty euro debt as a result).
Embracer CEO Lars Wingefors says he’s “confident” that this decision will unleash “significant untapped potential” within Embracer, and according to the latest report, the group’s shareholders largely agree.
That untapped potential includes projects outside of the gaming space, including an upcoming Tomb Raider live-action series that forms part of the brand’s continuing expansion into streaming and film.
In gaming, Embracer’s upcoming slate includes the Tomb Raider game currently being developed in conjunction with Amazon, as well as a new Painkiller title, the Gothic remake, and Metro Awakening.
All of this is taking place against the backdrop of a major restructuring effort at Embracer, which has seen many employees lose their jobs and several studios either closed or severely downsized.
Affected studios include Gearbox, which was sold to Take-Two in March, as well as Space Marine 2 publisher Saber Interactive and more. Studios closed down by Embracer include Saints Row developer Volition and TimeSplitters studio Free Radical.
Embracer acknowledges these closures and layoffs in its financial report, calling them “necessary but difficult decisions” and emphasizing the “compassion, respect and integrity” with which the layoffs and closures were apparently carried out.
Stay tuned for more info on all things Embracer.
