Swedish holding company Hug group published the financial report for the second quarter of the financial year (from July 1 to September 30). He saw an overall increase in sales as well as a reduction in debt, forcing him to lay off hundreds of employees and close studios.
The investigation was announced by Embracer in the summer following the collapse of a $2 billion investment, possibly by Saudi Arabia’s sovereign wealth fund. Ten studios have already fallen victim to it, including the authors of Saints Row from will and by the end of September in total 904 items, about 5% of all. The company managed to reduce debt to $1.4 billion, by 31% per year. Embracer strives for profit $760 million at the end of the financial year.
Embracer has completed the first phase of its restructuring and has moved on to the second, where it wants to focus more on re-evaluating specific projects. This is how he would end up developing fifteen games since then. Transmission, Playon, Saber Interactive or THQ Nordic. Czech Research is also among these companies. War horse And Ashbourne Games.
As for sales, Embracer reports. billion dollars and annual growth of 13%. The board games division had the largest share, with the video games segment earning $370 million and recording a 5% decline year-over-year. Remnant 2 was a success with mixed reception and financial results were attributed to Payday 3.
Source : Zing
