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The last time Lars Wingefors’ gaming giant Embracer Group reported its figures, the company also announced that it would buy 8 companies for 500 million kronor. Since then, they have made a new issue and have raised almost 6 billion.
When Embracer reports the third quarter figures, they don’t want to get any worse and, in addition to a solid report, the company says they have bought no fewer than 13 companies for at least SEK 2 billion.
Among the purchases, the Polish game developer Flying Wild Hog stands out with more than 260 employees for which it is necessary to pay 135.2 million dollars, the equivalent of 1,160 million crowns.
The Embracer Group was formerly called THQ Nordic and was founded by Lars Wingefors in 2011. The company develops and localizes games for PC and consoles and today has 31 in-house studios with more than 3,500 employees.
In addition to the aforementioned Flying Wild Hog, Embracer Group also buys the companies A Thinking Ape, Zen Studios, Snapshot games, Nimble Giant Entertainment, 34 Big Things, Mad Head Games, Sandbox Strategies, Purple Lamp Studios, IUGO Mobile Entertainment, Quantic Lab, Coffee Stain North and Silent Games.
They are a combination of game developers for consoles and mobile devices, as well as other companies related to games. Sandbox Strategies is, for example, a public relations agency and influencer active in the gaming industry.
Embracer has previously invested in Coffee Stain North and is now buying the remaining 40 percent of the company’s shares.
Among the pure game developers in buy, we find, for example, Zen Studios, which has made a name for itself in the gaming world as a developer of digital pinball games, as well as 34 Big Things which, among other things, is behind the Futuristic racing game Redout.
Strong Embracer Report
At the same time, the success of the games reports a solid quarter. Below are some concrete figures from the report.
## Sales increased 89.2 percent to SEK 2,383.2 million (1,259.7). The result can be compared with the consensus of Factset analysts, which was 2,063.
## Ebitda profit was 969.0 million SEK (418.1), 834 were expected, with an ebitda margin of 40.7 percent (33.2).
## Operating profit was 652.5 million (240.7).
## Operating profit was SEK 173.4 million (76.4). The operating margin was 7.3 percent (6.1).
## The profit before tax was 263.6 million SEK (79.7).
## Profit after tax was 227.8 million SEK (64.6). Adjusted earnings per share amounted to SEK 1.80 (0.65)
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