Embracer: Human cost of restructure is "significant" but "necessary"

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• avater@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Do we see also cuts in the management who pretty much created this fucking situation? Why is always the normal people who have to go necessarily…

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  • Ab_intra@lemmy.world ⁨1⁩ ⁨year⁩ ago

    That’s how capitalism works 🤑

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    • billwashere@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Well fuck capitalism then…

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• echo64@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Bunch of moron execs go on an industry buying spree, is shocked when the infinite money dries up, kills the jobs they bought. Embracer are truely awful.

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• RedditWanderer@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Embracer CEO’s 2023 Q1 interim report:

  In Q1, we achieved organic growth of 20 % and Adjusted EBIT of SEK 1.7 billion. In recent months, we have released two successful sequels, Dead Island 2 and Remnant II. We now have increased confidence regarding earnings this year and we are on track to deliver on the restructuring program announced on June 13, 2023, with a series of initial actions now taken. Even though it’s a challenging time for everyone impacted, I am confident we will emerge a stronger company.

  Embracer’s Q1 Net sales grew by 47 % to SEK 10.5 billion. Organic growth amounted to 20 %, driven by solid performance for Dead Island 2 in the PC/Console Games segment, as well as solid topline development in the Tabletop Games and Entertainment & Services segments. Adjusted EBIT came in at SEK 1.7 billion, representing a notable improvement sequentially. The Q1 result is also ahead of management expectations for the quarter. The positive sequential margin development in the quarter is a result of how we deliver on our games pipeline, and our Q1 execution builds a strong foundation to further improve the margin during the year after a challenging FY 2022/23.

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• Phegan@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Fuck off.

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• Etterra@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Only if he goes first.

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