Embracer Group has revealed their latest financial results, once again recording another massive growth in net sales in the gaming side of their business. They’re hoping to keep that momentum moving forward with a grand total of 180 games in development among their legion of studios and plenty of announcements to be made before the end of the year. They also reported impressive sales figures for some of their current titles including Biomutant and Chivalry II, both of which hit 1 million sales.
Back in May, the company reported they had 160 games in development. That number has now grown to 180 projects and those that are expected to be released before the end of March 2022 are valued at SEK 2.9 to 3.3 billion ($329-381 million) between them. The majority of these will be released during the latter part of the financial year, during the first three months of 2022, and the company is expecting to rely heavily on its back catalog for their income between July and September 2021.
CEO Lars Wingefors mentioned the group will have “numerous” new game announcements throughout the year, although not all of those will released during the current year. Those we do know about include Saints Row: The Third Remastered heading to PS5, TimeSplitters, and Dead Island 2 in development at Deep Silver. Evil Dead: The Game, World War Z: Aftermath, Crysis Remastered Trilogy, and a console version of Insurgency: Sandstorm are part of Saber Interactive’s development plans. Milestone has Hot Wheels Unleashed and Gearbox has Tiny Tina’s Wonderlands.
Several of their more recent titles have done quite well for the company. Biomutant was one of the biggest revenue creators for the quarter. The game has sold more than 1 million copies to date. It even managed to recoup its development and promotional costs within a single week, as well as covering the cost of Embracer’s purchase of developer Experiment 101 and the IP itself.
Chivalry 2 also sold more than 1 million units in just two months. It’s the first title to reach the milestone for Tripwire Presents and is developer Torn Banner’s fastest selling title. Players have logged more than 8 million hours of playtime. Meanwhile, PC title Valheim continues to be extremely successful, reaching a total of 7.9 million copies sold since its release.
Overall, Embracer’s net sales increased by 66% to the value of SEK 3.427 billion ($392 million) when compared to this time last year. Not all of that is from gaming, but that section of their business had an even more impressive increase of 83% to SEK 2,960.9 million ($339 million). Wingefors says the company is “pleased with the organic year-over-year growth, given that the comparison is made against a quarter with a boost in demand due to pandemic effects.”
