EarningsQ2 2025 Earnings Report

Embracer Group AB (TH92) Q2 2025 Earnings Report

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Previous Report: Q1 2025

Next Report: Q3 2025

DE:TH92 Q2 2025 EPS Results

Actual EPS€0.04

Consensus EPS€0.12

Beat/MissMissed by -€0.08

One Year Ago EPS€0.16

DE:TH92 Q2 2025 Revenue Results

Actual Revenue€763.33M

Expected Revenue€810.96M

Beat/MissMissed by -€47.62M

YoY Revenue Growth-21.04%

Earnings Announcement Details

QuarterQ2 2025

Date11/14/2024

TimeBefore Open

Conference CallThursday, November 14, 2024

DE:TH92 Upcoming Earnings

Embracer Group AB's next earnings date is estimated for November 12, 2026, based on past reporting schedules.

Q2 2025 Earnings Call Audio

DE:TH92 Q2 2025 Earnings Call

0:00 / 0:00

Q2 2025 Earnings Slide Deck

Q2 2025 Earnings Call Summary

Q2 2025

Earnings Call Date:Nov 14, 2024|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call presented a mixed outlook with significant achievements such as Asmodee's solid performance and the strategic divestment of Easybrain. However, these were countered by notable challenges including a decline in net sales, negative free cash flow, and underperformance in several game releases. While there are promising prospects with upcoming game releases and a strengthened financial position post-divestment, the current challenges balance out the positive aspects.

Company Guidance

In the recent call, Embracer Group's CEO Lars Wingefors provided guidance for the second quarter of the fiscal year 2025, highlighting several key financial metrics and strategic updates. The company reported net sales of SEK 8.5 billion, a decrease from the previous year due to the absence of significant releases like Remnant and Payday. Despite this, Asmodee, a key segment, showed solid earnings growth with SEK 700 million in profitability. However, the PC/Console segment faced challenges, with a 33% decline in organic growth and an adjusted EBIT margin of 8% due to delays and weaker returns on investment. The mobile games segment performed well, generating SEK 1.3 billion in revenue with a 28% adjusted EBIT margin. The company also announced the transformative divestment of Easybrain for USD 1.2 billion, expected to significantly strengthen Embracer's financial position, reducing net debt to SEK 500 million on a pro forma basis. Looking ahead, key releases like Kingdom Come: Deliverance II and the remastered Legacy of Kain series are expected to support future growth.

Asmodee's Solid Earnings Growth

Asmodee achieved SEK 700 million in profitability for the quarter, demonstrating strong earnings growth year-over-year ahead of their listing and Capital Market Day.

Successful Game Launch: Satisfactory

The game Satisfactory exceeded expectations with more than 200,000 concurrent players on PC during the full game launch.

Kingdom Come: Deliverance II On Track

No delays are expected for Kingdom Come: Deliverance II, set to release in February, which has sold over 8 million copies of the first game.

Mobile Games Profitability

The Mobile Games segment had a strong quarter with SEK 1.3 billion in revenues and a 28% adjusted EBIT margin.

Easybrain Divestment

The divestment of Easybrain is expected to significantly transform the financial position of Embracer, with a purchase price of USD 1.2 billion all in cash, strengthening the balance sheet.

DE:TH92 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 12, 2026	2027 (Q2)	0.07 / -	-0.041	―
Aug 13, 2026	2027 (Q1)	0.03 / 0.09	-0.042	317.89% (+0.13)
May 20, 2026	2026 (Q4)	0.07 / 0.05	-0.011	511.29% (+0.06)
Feb 12, 2026	2026 (Q3)	0.09 / 0.16	0.061	160.26% (+0.10)
Nov 13, 2025	2026 (Q2)	0.01 / -0.04	0.04	-202.67% (-0.08)
Aug 14, 2025	2026 (Q1)	0.04 / -0.04	0	―
May 22, 2025	2025 (Q4)	0.18 / -0.01	0.324	-103.42% (-0.33)
Feb 13, 2025	2025 (Q3)	0.19 / 0.06	0.038	59.72% (+0.02)
Nov 14, 2024	2025 (Q2)	0.12 / 0.04	0.156	-74.36% (-0.12)
Aug 15, 2024	2025 (Q1)	0.05 / 0.00	0.267	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed