companyName

extensiveId

feedTypes

includeDividend

includeEstimates

includeOverview

includeOwnership

includeResearchContent

researchId

snapshotDate

CompanyName_Query

companySlug

CompanyMetaData

Company_query

company

query CompanyName_Query(
  $companyName: String!
  $extensiveId: ID
  $snapshotDate: String
  $researchId: ID
  $includeResearchContent: Boolean!
  $feedTypes: [ContentType!]!
  $includeEstimates: Boolean!
  $includeOverview: Boolean!
  $includeOwnership: Boolean!
  $includeDividend: Boolean!
) {
  ...CompanyMetaData_Ux1x9
  ...Company_query_1TiJKa
}

fragment AnalystData on Analyst {
  name
  pageUrl
  jobTitle
  imgUrl
}

fragment AuthorList on Content {
  __isContent: __typename
  id
  authors {
    __typename
    id
    name
    pageUrl
  }
}

fragment ChangePercentBlock_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      diff1mPercentage
      diff1yPercentage
      diff3yPercentage
      diffFromStartPercentage
    }
    id
  }
}

fragment CompactFeed_3NXCcw on Query {
  compactFeed: feedContent(companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        ...TeaserExtraCompact_content
        createdAt
        companies {
          viewerIsFollowing
          id
        }
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment CompanyAnalystQuery on Company {
  analysts {
    ...AnalystData
    name
    pageUrl
    jobTitle
    imgUrl
    id
  }
}

fragment CompanyCoverage_Company on Company {
  analysts {
    name
    id
  }
  isPayingCustomerOf
  isFormerCustomerOf
  isCorporateCustomer
  ...CompanyAnalystQuery
  defaultInstrument {
    ...TargetAndRecommendation_Company
    id
  }
}

fragment CompanyDescription_Company on Company {
  description
  websiteUrl
  name
}

fragment CompanyDisclaimer_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    isPayingCustomerOf
    isFormerCustomerOf
    id
  }
}

fragment CompanyDividendER_query on Company {
  name
  defaultInstrument {
    estimateData {
      reportingCurrency
    }
    dividendTransactions: estimateTransactions(first: 1, includeQuarters: false) {
      actualized {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
      estimates {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
    }
    id
  }
}

fragment CompanyDividendNonER_query on Company {
  name
  defaultInstrument {
    nonERDividendSet: nonERCompanyNumberSet(includeQuarters: false) {
      year
      dividend
      dividendYield
      epsReported
      sharePrice
      currency
    }
    id
  }
}

fragment CompanyDividend_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...CompanyDividendER_query
    ...CompanyDividendNonER_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyFinancials_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...NonERCompanyNumbers_query
    ...CompanyNumbers_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyHeader_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    id
    companyInsref
    name
    viewerIsFollowing
    followersCount
    isCorporateCustomer
    hasPinpointData
    hasDividendHistory
    sector {
      sectorname
      industry
    }
    regions
    extensiveExists
    researchContentExists
    defaultInstrument {
      symbol
      priceData {
        tradeCurrency
        lastPrice
        diff1dPercentage
      }
      marketplace {
        name
      }
      estimates: estimateTransactions(first: 1, includeQuarters: false) {
        date
      }
      nonERCompanyNumberSet(first: 1, includeQuarters: false) {
        year
      }
      id
    }
    topOwners {
      holders {
        name
      }
    }
    transactions: insiderTransactions(filter: {types: [BUY, SELL, SUBSCRIPTION]}) {
      edges {
        node {
          date
          id
        }
      }
    }
  }
}

fragment CompanyInsiderTransactions on Company {
  name
  regions
  insiderTransactions(filter: {types: [BUY, EXERCISE_OF_SHARE_OPTION, PLEDGE, RECEPTION_OF_SHARE_PREMIUM, SELL, SUBSCRIPTION]}) {
    edges {
      node {
        insider
        position
        volume
        price
        date
        unit
        type
        relatedParty
        id
      }
    }
  }
}

fragment CompanyInvestorConsensus_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    companyInsref
    id
  }
}

fragment CompanyMetaData_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    description
    pageUrl
    defaultInstrument {
      estimateData {
        modelType
      }
      id
    }
    id
  }
}

fragment CompanyName_Slug on Company {
  slug
}

fragment CompanyNumbers_query on Company {
  name
  defaultInstrument {
    estimateData {
      modelType
      reportingCurrency
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      comparisonIndexName
      actualized {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
    }
    id
  }
}

fragment CompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      companyTransactions: estimateTransactions(first: 1, includeQuarters: false) {
        actualized {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
        estimates {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
      }
      id
    }
    id
  }
}

fragment CompanyOwners on Company {
  regions
  topOwners {
    recordDate
    compareDate
    source
    holders {
      name
      capitalPercent
      votingPowerPercent
      totalShares
      positionChange
      totalSharesChange
      shareChange
      isNew
      isRemoved
    }
  }
}

fragment CompanyOwnership_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    ...CompanyOwners
    ...CompanyInsiderTransactions
    id
  }
}

fragment CompanyPageBottom_query_2bVJwf on Query {
  ...GeneralFeed_data_3NXCcw
  ...CompactFeed_3NXCcw
  ...UpcomingEventsQuery_Ux1x9
  ...RiskRecommendMatrix_query_Ux1x9
  ...CompanyOverviewGraphs_query_Ux1x9
  ...NonERCompanyOverviewGraphs_query_Ux1x9
  company(companySlug: $companyName) {
    companyInsref
    ...ForumUpdates_Company
    defaultInstrument {
      coreId
      id
    }
    id
  }
  allFeed: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  main: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT, ANALYST_COMMENT, VIDEO, ARTICLE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  webcasts: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [WEBCAST]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  thirdPartyResearch: feedContent(first: 1, companySlug: $companyName, filter: {types: [THIRD_PARTY_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  releases: feedContent(first: 1, companySlug: $companyName, filter: {types: [STOCK_EXCHANGE_RELEASE, PRESS_RELEASE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyPageTop_query_Ux1x9 on Query {
  ...StockChart_ChartQuery_Ux1x9
  ...LatestReports_query_Ux1x9
  company(companySlug: $companyName) {
    isFund
    name
    ...CompanyCoverage_Company
    ...CompanyName_Slug
    ...CompanyDescription_Company
    ...FundNumbers_Company
    ...ChangePercentBlock_Company
    ...KeyEstimateFigures_Company
    ...InvestmentCompanyKeyFigures_Company
    defaultInstrument {
      id
      estimateData {
        modelType
      }
    }
    analysts {
      name
      id
    }
    id
  }
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment Company_query_1TiJKa on Query {
  ...CompanyHeader_query_Ux1x9
  ...CompanyOwnership_query_Ux1x9 @include(if: $includeOwnership)
  ...CompanyFinancials_query_Ux1x9 @include(if: $includeEstimates)
  ...CompanyDividend_query_Ux1x9 @include(if: $includeDividend)
  ...CompanyInvestorConsensus_query_Ux1x9
  ...CompanyPageTop_query_Ux1x9 @include(if: $includeOverview)
  ...CompanyPageBottom_query_2bVJwf @include(if: $includeOverview)
  ...CompanyDisclaimer_query_Ux1x9
  ...Extensive_query_3u4Ry5
  ...ResearchContent_query_14bL89
}

fragment Extensive_query_3u4Ry5 on Query {
  company(companySlug: $companyName) {
    extensive(extensiveId: $extensiveId, snapshotDate: $snapshotDate) {
      publishedAt
      pageUrl
      pdfUrl
      content {
        id
        title
        lang
        slug
        htmlBody
        publishedAt
        createdAt
        changedAt
        isOutdated
      }
    }
    id
  }
}

fragment ForumUpdates_Company on Company {
  name
  forum {
    threadUrl
    highlightedPosts {
      url
      author
      authorImgUrl
      text
      postedAt
      likesCount
    }
  }
}

fragment FundNumbers_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      lastPrice
      ath
    }
    id
  }
}

fragment GeneralFeed_data_3NXCcw on Query {
  generalFeed: feedContent(first: 20, companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        companies {
          name
          id
        }
        ...Teaser_content
        ...TeaserCompact_content
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment InvestmentCompanyKeyFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
    }
    estimateData {
      modelType
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      actualized {
        year
        quarter
        sharesTotal
        marketCap
        nav
        navPerShare
        dividendYield
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        dividendYield
      }
    }
    id
  }
}

fragment KeyEstimateFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
      lastPrice
      marketCap
    }
    sector
    fundamentalData {
      ebit
      eps
      sales
      dividend
    }
    estimateData {
      modelType
      estimates {
        firstEstimateYear {
          year
          bookValue
          netSales
          dividendA
          epsAdjusted
          ebitAdjusted
          hybridLoan
          noOfShares
          netDebt
          mvMinorities
          mvAssociated
          roePercent
        }
      }
    }
    estimatesSharePrice: estimateTransactions(first: 1) {
      estimates {
        sharePrice
      }
    }
    id
  }
}

fragment LatestReports_query_Ux1x9 on Query {
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
}

fragment NonERCompanyNumbers_query on Company {
  name
  defaultInstrument {
    nonERNumberSet: nonERCompanyNumberSet(includeQuarters: true) {
      year
      quarter
      revenue
      ebitda
      ebitReported
      epsReported
      dividend
      sharesTotal
      roe
      roi
      enterpriseValue
      marketCap
      gearingRatio
      equityRatio
      dividendYield
      sharePrice
      currency
      evSales
      evEbitda
      evEbit
      pb
      netIncome
      ptp
    }
    id
  }
}

fragment NonERCompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      overviewGraphsData: nonERCompanyNumberSet(includeQuarters: false) {
        year
        revenue
        ebitReported
        epsReported
        dividend
        dividendYield
        currency
      }
      id
    }
    id
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ResearchContent_query_14bL89 on Query {
  company(companySlug: $companyName) {
    slug
    researchContentFeed @include(if: $includeResearchContent) {
      __typename
      id
      ...Teaser_content
    }
    researchContentIds @include(if: $includeResearchContent)
    researchContent(researchId: $researchId) @include(if: $includeResearchContent) {
      researchId
      researchTitle
      publishedAt
      pageUrl
      content {
        id
        title
        lang
        slug
        htmlBody
        publishedAt
        createdAt
        changedAt
        isOutdated
      }
    }
    id
  }
}

fragment RiskRecommendMatrix_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      riskData: estimateTransactions(first: 1) {
        businessRisk
        valuationRisk
      }
      id
    }
    id
  }
}

fragment StockChart_ChartQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    isFund
    defaultInstrument {
      coreId
      id
      marketOpen
      marketClose
      marketplace {
        region
      }
      priceData {
        lastPrice
      }
      returns {
        day
        week
        month
        threeMonths
        sixMonths
        year
        threeYears
        fiveYears
        tenYears
        ytd
        total
      }
    }
    id
  }
}

fragment TargetAndRecommendation_Company on Instrument {
  estimateData {
    modelType
    researchCurrency
    estimates {
      date
      recommendation
      targetPrice
    }
  }
}

fragment TeaserCompact_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  isPremium
  pageUrl
  lang
  companies {
    ...CompanyTagList
    id
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  ...AuthorList
}

fragment TeaserExtraCompact_content on Content {
  __isContent: __typename
  id
  title
  createdAt
  pageUrl
  lang
  companies {
    name
    pageUrl
    viewerIsFollowing
    id
  }
}

fragment Teaser_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  pageUrl
  imgUrl
  isPremium
  lang
  companies {
    ...CompanyTagList
    id
  }
  publishers {
    imgUrl
  }
  authors {
    __typename
    id
  }
  ... on AnalystComment {
    preview
  }
  ... on Article {
    preview
  }
  ... on CompanyReport {
    preview
  }
  ... on ThirdPartyCompanyReport {
    preview
  }
  ... on QA {
    preview
  }
  ... on Video {
    preview
    liveTime
    videoDuration
  }
  ... on Webcast {
    preview
    liveTime
  }
  ...AuthorList
  ...Reactions
}

fragment UpcomingEventsQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      calendarEvents(first: 10) {
        edges {
          node {
            date
            type
            period
            id
          }
        }
      }
      id
    }
    id
  }
}


name

description

pageUrl

defaultInstrument

companyInsref

viewerIsFollowing

followersCount

isCorporateCustomer

hasPinpointData

hasDividendHistory

sector

regions

extensiveExists

researchContentExists

topOwners

insiderTransactions

isPayingCustomerOf

isFormerCustomerOf

extensive

slug

feedContent

Embracer Group

Change in the number of shares and votes in Embracer Group

Redeye: Embracer (Q3 Review): Stable near-term outlook, game pipeline supports upside in 2026/27E

Embracer, Audiocast, Q3'25/26

Embracer Group publishes Interim Report Q3, October-December 2025: Adjusted EBIT amounted to SEK 528 million

Modular Finance IR Consensus: Embracer Group – Consensus estimates Q3 2025/2026

Invitation to presentation of Embracer Group’s Q3 report

Nomination Committee appointed for Embracer Group’s Annual General Meeting 2026

Lee Guinchard appointed Chief Operating Officer

Crystal Dynamics and Amazon Game Studios reveal two new Tomb Raider titles – and other highlights from The Game Awards

Coffee Stain Group publishes company description in connection with listing of its class B shares on Nasdaq First North Premier Growth Market in Stockholm

Embracer Group divests Arc Games and Cryptic Studios, while several key rights are retained within the group

Trading in the class B shares of Coffee Stain on Nasdaq First North Premier Growth Market in Stockholm is expected to commence on 11 December 2025

Redeye: Embracer (Q2-review) - Stronger H2 in sight

Embracer Group intends to list Coffee Stain Group with a pro-forma net cash position, as of 30 September 2025, of SEK 500 million

Embracer, Audiocast, Q2'25/26

Embracer Group publishes Interim Report Q2, July–September 2025: Adjusted EBIT amounted to SEK 109 million

Modular Finance IR Consensus: Embracer Group – Consensus estimates Q2 2025/2026

Buyback of B shares in Embracer during week 45, 2025. The buyback program is now complete and has been closed.

Invitation to presentation of Embracer Group’s Q2 report

Buyback of B shares in Embracer during week 44, 2025

Announcement from Embracer Group's extra general meeting

Buyback of B shares in Embracer during week 43, 2025

Buyback of B shares in Embracer during week 42, 2025

Embracer Group publishes information brochure regarding the proposed distribution of shares in Coffee Stain Group AB

NASDAQ Stockholm

Embracer Group is a global group with operations in PC/console and mobile games, as well as other related media. The group has an extensive game portfolio and conducts development both through internal studios and in collaboration with external developers. The company is headquartered in Karlstad and has a global presence through its operating companies.

Again, a good (bad) example of Lars’ DD process. Buying junk at a high price, acquiring one of the world’s most expensive game studios that is unable to develop or publish games. If it were one canceled project, it wouldn’t be a big problem, but Eidos/Crystal Dynamics hasn’t published a single game under Embracer. The costs are astronomical. Apparently, the P11 project went so well that the engine was changed 4 times during development. I still don’t understand why the head of Eidos was promoted to CEO of Empu (Embracer) when his CV is of this caliber. If the new Tomb Raider is ever released, I hope Eidos and Crystal Dynamics are finally shut down the next day.                   Insider Gaming – 31 Mar 26              EXCLUSIVE: Eidos Montreal Cancels 7+ Year In-Development Title That Cost...    Yesterday's Eidos Montreal layoffs were due to the cancellation of Wildlands, a game that had been in development since early 2019.                              According to sources, the game had been struggling for years, with 4 different game engines used throughout development, narrative direction conflicts, and a budget that had exploded to several hundred million. The game’s spiralling budget resulted in several projects at the studio being cancelled, including a new Deus Ex game in January 2024.

Short positions were closed by about 1% and reopened, but we are still around the 9.5% mark. The bears haven’t changed their minds about Embu (Embracer) yet. If I were to take a guess, Christmas sales went well and the backlog will hopefully generate free cash flow. A major write-down at Eidos possibly reduced that cash burn. The situation in the Eidos/CD/Tripwire companies is by no means commendable. The long-awaited announcement of Metro may well have been the trigger for the rise, and this release also managed to leak a few days before the information was officialized. Embracer is more dependent on these larger productions than before, when it was an “ETF monster.” An umbilical cord remains between the stock price behavior of Coffee Stain and Asmodee, meaning when Embu improves, the others also gain momentum. Someday that dependency should disappear. Tides of Tomorrow features interesting game mechanics, but this is also a game made by about 40 people; it should be viewed as a low-budget production, and it’s only targeting around 1 million copies sold. I expect more from Gothic when it comes out in June, as it has 100k followers and over a million wishlists. This also comes from the THQ side, so it’s too early to say a million is guaranteed—sales for Tarsier’s Reanimal hit a wall instantly. No date has been given, but Embracer in its current form will be history. Then we will see if the new Fellowship is actually a functional model: a focused, hit-driven, and cash-flow-generating entity. The transition phase is still ongoing, and I expect to see more studio reorganizations and cuts; the uncertainty hasn’t gone anywhere yet. There are also rumors that the Tomb Raider remake might be moving to next year, even though it has been heavily promoted for this year.

Embracer’s share price has risen 40% in a month, though it’s still -88% over 5 years. I’m not entirely sure what the deal is, but apparently shorts have been covered and news about upcoming releases has breathed some life into the price. Operational execution is still anemic, and while the new LOTR games are nice news, the market doesn’t seem to realize that Embracer’s track record with games is absolutely horrific. Rumor has it that Warhorse is developing a LOTR game, and another Saudi-funded LOTR game is also supposedly in development. Mr. Market got excited but ignored the fact that KCD2’s development took 6 years—meaning by the time that Warhorse Lord of the Rings game is released, Embracer might not even exist anymore, or alternatively, they might no longer own the LOTR IP.                   Insider Gaming – 31 Mar 26              Kingdom Come: Deliverance Devs Working on LOTR Game, It's Claimed    A Lord of the Rings game is in development, and new suggestions hint that Kingdom Come: Deliverance developer Warhorse Studios is behind it.                             A new Metro game was finally announced. I don’t understand the reaction here either, since its development was already known and it’s finally seeing the light of day after 7 years. Developer 4A Games split in two a couple of years ago, so it’s unclear how many of the original developers are still at the studio—or even alive.                   IGN – 16 Apr 26              Metro 2039 Announced, Bringing Much Darker Tone to the Single-Player FPS Series    Developer 4A Games has announced Metro 2039, the next game in the popular post-apocalyptic first-person shooter series based on the Metro novels by Dmitry Glukhovsky. It promises a much darker tone than previous games, and will once again be focused...                             Crystal Dynamics / Eidos have been laying people off constantly, and it’s only a matter of time before the studios are closed.                   Game Informer              Crystal Dynamics Announces More Layoffs, Remains 'Fully Committed' To Its New...    20 more employees have been let go from the publisher in another round of layoffs.                             If we try to find something positive, the NEOGEO retro console manufactured by Plaion has received a very positive reception. The margins on a plastic toy like that are likely decent, but most of the cash flow goes to the Saudis, who own SNK and thus the NeoGeo IP.               The biggest problem, however, is the quality and sales of Embracer’s games. I don’t know how THQ Nordic manages this every time—it’s like some kind of magical touch—but how on earth can every game be released without any effective marketing, leading to sales flopping completely? Released yesterday, Tides of Tomorrow is flying under the radar again, and although the game is quite impressive-looking and the concept is interesting, it’s apparently once again guaranteed THQ quality—meaning it’s semi-crap.

[ https://www.psu.com/news/eidos-montreal-has-reportedly-scrapped-wildlands-a-game-that-cost-millions-and-has-been-in-works-for-over-7-years/ ] Eidos’s problems accumulated, and the result is massive layoffs and the termination of the open-world AAAA project p11. The project has cost over 100+ million to date, it was started under Square, and Embbu has spent money on it for 4 years. The final bill is hefty because the project’s scale increases towards the end, and 124 people, including the studio director, have been laid off. Has the situation simply come to a point where it’s better to kill a bad project than to release a flop?

The macro in the gaming industry is currently weak (AI hype, small-cap outflows, Swedish pension fund exits, USA), but that doesn’t explain everything. The fact is that Embracer has fallen more than the index, and a ~10% short interest tells the essential story: the market doesn’t yet trust Embracer’s actions. At the same time, insiders, Lars Wingefors, DNB, and Karch still believe in the pipeline. But the AAA pipeline isn’t ready yet, and even here there seem to be numerous delays. On the gaming side, revenues are currently coming more from deals (Sony/Microsoft/Amazon) than from Steam sales. And it’s not sustainable to rely solely on contract production without proprietary successes. LOTR: Movies might do well despite the social media noise; on Reddit, probably no one wants to see another Lord of the Rings adaptation. Big names can be billion-dollar productions (Avatar). The next quarter is quite critical because it should record the cash flows from Christmas sales.

At first, I was inclined to be quite disappointed with yesterday, but after digesting the report, it looks like quite a defensive victory has been baked in, and the share price reaction certainly brought some relief.  no earnings collapse no cash crisis no new restructuring decisions  The market was already pricing in a lot of trouble for the company. Maybe Embracer finally found its bottom, but the movement over the coming days will tell us more. Short interest has been steadily increasing; I wonder if yesterday even made that crowd raise their eyebrows. The future trajectory is what matters most: that Embu’s studios’ performance leads to successful game launches and that the major AAA flagships are also supported by successful AA releases, as well as more interesting projects in the pipeline (what the audience wants). I think the short-term outlook is already slightly better than last autumn, and Gothic, which has had good wishlist rankings, finally got its release date. Tomb Raider is coming in 2026 (this was also clearly clarified now). And ReAnimal sales kick off today. Hoping for a quick one-million-unit milestone. A large number of ROI bubbles appeared at the bottom again. I tested the SpongeBob (Paavo) game with the kids, and even they didn’t play it for long   I’m not bashing the studio of the SpongeBob game, but maybe it’s time to let go of this license and let this team try adapting the next morning cartoon into a game. LittleBigPlanet was dug out of the box, and it caused a huge row over game turns…

skatteverket.se              Asmodee Group    Aktiehistorik, Asmodee Group AB                                               skatteverket.se              Coffee Stain Group    Aktiehistorik, Coffee Stain Group AB

Lars Wingefors AB

DNB Asset Management AS

Embracer Group

63.10 SEK

+0.16 %