contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

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

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


invitation-to-presentation-of-embracer-groups-q4-and-full-year-202526-report

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

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.

In about two weeks, 4A Games has essentially captured everyone’s attention with the Metro release. Even though it’s still early, interest appears to be strong, and I wouldn’t be surprised if wishlist momentum clearly shifts toward Metro before the release of Gothic. The trailer had a powerful atmosphere. It features some Hideo Kojima-style elements alongside a clear message about the impact of war. This suits Metro well. There is also an interesting context in the background. Metro series author Dmitry Glukhovsky has openly opposed Russia’s invasion of Ukraine and has been labeled a “foreign agent” in Russia. The war and the author’s citizenship may partly explain why 4A Games split. I personally enjoyed the first Metro book and game, and if the game succeeds in combining a strong atmosphere with a timely theme, Metro has a good chance for solid returns. However, the game underwent a soft reset in 2022, which increases the pressure for the project to succeed. Furthermore, the game lineup at the end of the year will be a battle of heavy hitters; competition for visibility and sales will be intense.

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.

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

It’s tax return season, so a question about acquisition costs: I’ve tried reading up and searching for information on the matter, but without success. Has any official guidance been issued regarding the acquisition costs for Asmodee and Coffee Stain Group for tax returns when these are sold? Or how should/would this be handled? Thanks for the help in advance.

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.

[ 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?

Embracer Group

Embracer Group invites investors, analysts, and media to a presentation of its interim report for the fourth quarter and full-year results for 2025/26 on Wednesday, May 20, at 09:00 CEST. The...

<div class="mfn-preamble">Embracer Group invites investors, analysts, and media to a presentation of its interim report for the fourth quarter and full-year results for 2025/26 on Wednesday, May 20, at 09:00 CEST. The report will be published the same day at 07:00 CEST and will be available on the Group’s website.</div><div class="mfn-body">The presentation will be held in English by CEO Phil Rogers and CFO Müge Bouillon, followed by a Q&amp;A session. Questions can be asked via the conference call only. &nbsp; Report publication: May 20 at 07:00 CEST Webcast and conference call: May 20 at 09:00 CEST &nbsp; How to participate Webcast: To participate via webcast, please use this <a href="https://embracer.com/webcast/q4-full-year-report-fy-2025-26/" rel="noopener">link</a>. &nbsp; Conference call: +46 (0)8 5051 0031 or +1 (1) 631 570 56 13. To ensure that you are connected to the conference call, please dial in a few minutes before to register your attendance. &nbsp; Presentation material The presentation and an on-demand version of the webcast will be available after the event on Embracer Group’s <a href="https://embracer.com/investors/reports-presentations/" rel="noopener">website</a>.</div><div class="mfn-footer mfn-contacts mfn-4d9f6a7e25cf">For more information, please contact: Oscar Erixon Head of Investor Relations Phone: + 46 730 24 91 42 Email: <a href="mailto:oscar.erixon@embracer.com" rel="noopener">oscar.erixon@embracer.com</a>Arman Teimouri Head of Media &amp; Public Affairs Phone: +46 793 33 05 60 Email: <a href="mailto:arman.teimouri@embracer.com" rel="noopener">arman.teimouri@embracer.com</a></div><div class="mfn-footer mfn-about mfn-432479e8242b">About Embracer Group Embracer Group is a global group of creative and entrepreneurial businesses in PC, console and mobile games, as well as&nbsp;other related media. The Group has an extensive catalog of over 400 owned or controlled franchises. With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its operative groups: THQ Nordic, PLAION, DECA Games, Dark Horse, Freemode and Crystal Dynamics – Eidos. The Group includes 55 internal game development studios and engages over 6,500 talents across nearly 30 countries.Embracer Group’s shares are publicly listed on Nasdaq Stockholm under the ticker EMBRAC B.Subscribe to press releases and financial information <a href="https://embracer.com/investors/subscription/" rel="noopener">here</a>.</div><div class="mfn-footer mfn-attachment mfn-attachment-general">Attachments <a class="mfn-generated mfn-primary" href="https://storage.mfn.se/4f1e9b02-0132-4a1d-bb6f-4f49184ceb07/invitation-to-presentation-of-embracer-groups-q4-and-full-year-2025-26-report.pdf" rel="noopener">Invitation to presentation of Embracer Group’s Q4 and full-year 2025/26 report</a></div>