Embracer: Growing Game Pipeline
Net sales were in line with our estimates and operational EBIT was stronger than expected. Embracer's “Quality First” approach has resulted in more than ten games “delays” to the next fiscal year. This means the budget of new game releases is SEK 120 - 140 million in Q4 (SEK 300-350 million). However, the pipeline of new games during the upcoming fiscal year has increased to SEK 2,500-3,000 million (SEK 2,000 million).
This is excluding the recent acquisitions of Gearbox, Aspyr, and Easybrain. We will likely do some “stable” positive estimate adjustments..