Get the latest gossip
‘The Lord Of The Rings’ Firm Embracer Group Sees Entertainment Sales Fall Sharply In Q1; Exit From Russia Completed
'The Lord of the Rings' IP owner Embracer Group saw net sales in its Entertainment & Services division fall sharply in the first quarter of 2024.
The company has been restructuring over the past year and it today claimed it “is already evident that we are on a path towards significant net debt reduction,” with free cash flow amount to over SEK2B for the first time. The plan to split the company into three separately-listed operations is progressing, with games publisher Asmodee set to host a capital markets day the third quarter. Embracer CEO Lars Wingefors also noted that the company had “fully exited” all operations in Russia, and that the only remaining entities were dormant legal structures with no employees or assets.
Or read this on Deadline