In a meeting with investors in the company’s PC/Console business, Embracer CEO Lars Wingefors discussed the unstable nature of the industry, but remained positive for the company’s outlook post-restructuring.
After its quarterly fiscal report showed a drop of 34% (year on year) in its PC/Console business, Embracer restructured this wing of the company, which resulted in mass layoffs, cancellations, studio closures, and the divestment of asset such as Gearbox Entertainment (responsible for the Borderlands franchise) and Saber Interactive (responsible for the upcoming Space Marine 2).
Describing the drop as “lumpiness” in the sector, Wingefors’ statements are reflected by delays to games such as Kingdom Come: Deliverance II from Embracer-owned Deep Silver (slated to launch this year, pushed back to February 2025) and the comparative quarter playing host to the release of titles such as Dead Island 2.
On a more optimistic note, Wingefors stated that he is “very confident and excited about the future outlook of that business”, “especially now post-restructuring”, and that the company’s pipeline “looks solid”, set to “release completed games with a value of SEK 3.9 billion for the financial year.”
You can access the full investor Q&A here (thanks, Game Developer).