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.
Embracer: Human cost of restructure is "significant" but "necessary"
Submitted 11 months ago by Goronmon@lemmy.world to games@lemmy.world
https://www.gamesindustry.biz/embracer-human-cost-of-restructure-is-significant-but-necessary
Comments
echo64@lemmy.world 11 months ago
RedditWanderer@lemmy.world 11 months 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.
Phegan@lemmy.world 11 months ago
Fuck off.
Etterra@lemmy.world 11 months ago
Only if he goes first.
avater@lemmy.world 11 months 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…
Ab_intra@lemmy.world 11 months ago
That’s how capitalism works 🤑
billwashere@lemmy.world 11 months ago
Well fuck capitalism then…