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Embracer CFO Set to Exit as ‘Lord of the Rings’ Owner Reports Rise in Operating Profit, Drop in Entertainment Division Sales
'Lord of the Rings' owner Embracer reports its adjusted operating profit has risen by 56% in Q4.
“ Lord of the Rings ” owner Embracer Group delivered a mixed bag during its fourth-quarter 2024 earnings Thursday, revealing that while its adjusted operating profit had risen by 56% to 1.4 billion Swedish krona ($132 million), sales in its entertainment and services division – which currently houses its Tolkien and “Tomb Raider” IP – had dropped by 15%. The Swedish-based gaming conglomerate also revealed CFO and deputy CEO Johan Ekström is set to step down after five years for personal reasons. “We see great potential in ‘The Lord of the Rings’ IP and believe the universe can become a key driver in the coming decades, with the aim to delight fans across the globe,” Wingefors said.
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