Embracer Group Ab Class B · OMXSTO:EMBRAC_B
Embracer Group Ab Class B — Q1 FY2026/27 Earnings Presentation
24 slides from Embracer Group Ab Class B's earnings presentation, August 2026
Slide 1: Q1 FY 2026/27 Embracer Group Interim Report
Q1 FY 2026/27 EMBRACER GROUP INTERIM REPORT APRIL 2026 – JUNE 2026
Slide 2: Disclaimer
Q1 INTERIM REPORT | FY 2026/27 Disclaimer IMPORTANT INFORMATION – PLEASE READ THE FOLLOWING BEFORE CONTINUING READING express or implied, is made by the Company or any of its affiliates, directors, advisors, employees and representatives as to the accuracy, completeness or verification of any inform
Slide 3: What we cover today
Q1 INTERIM REPORT | FY 2026/27 What we cover today Highlights from the quarter Operating segments Fellowship Entertainment Embracer Financial development Q&A 3
Slide 4: Highlights from Q1 2026/27
Q1 INTERIM REPORT | FY 2026/27 Highlights from Q1 2026/27 Financial Highlights | SEK NET S A L E S CASH EBIT FREE CASH FLOW 3,943 m 47 m 3m 24% YoY (33% organic) (-99 m) (-383 m) Comments Fellowship Entertainment Growth and earnings Intact FY 2026/27 outlook, with spin-off progressing well developme
Slide 5: Improving growth and earnings trajectory
Q1 INTERIM REPORT | FY 2026/27 Improving growth and earnings trajectory NET SALES AND ORGANIC GROWTH | SEK million CASH EBIT AND CASH EBIT MARGIN | SEK million 30,000 30% 2,500 30% 25% 25,000 25% 2,000 20% 20,000 20% 15% 16,678 1,500 10% 15,000 15% 5% 5% 1,000 2% 10,000 10% 657 10% 0% -3% 500 -5% 5,
Slide 6: Operating segments
¥ Operating segments
Slide 7: Two segments with respective business areas
Q1 INTERIM REPORT | FY 2026/27 Two segments with respective business areas FELLOWSHIP ENTERTAINMENT EMBRACER ENTERTAINMENT / PUBLISHING & DEVELOPMENT / LICENSING / PC/CONSOLE / MOBILE / & SERVICES / OTHER 1 1 Mainly divested assets 7
Slide 8: Fellowship Entertainment: Highlights
OPERATING SEGMENT | FELLOWSHIP ENTERTAINMENT Fellowship Entertainment: Highlights PERFORMANCE COMMENTS SEKm Growth: -23% | Organic growth: -22% Fellowship Entertainment delivered a resilient quarter, with limited 1,500 new content across Publishing & Development and Licensing. Cash EBIT above in
Slide 9: Publishing & Development: Net sales drivers
OPERATING SEGMENT | FELLOWSHIP ENTERTAINMENT Publishing & Development: Net sales drivers PUBLISHING & DEVELOPMENT – TYPE OF INCOME | NET SALES SEKm 2,500 FY 2026/27 Q3: Warhammer 40 000: Dawn of War IV 2,000 Q3: Stage Tour Q4: Tomb Raider: Legacy of Atlantis Q4: METRO 2039 1,500 Growth: -23%
Slide 10: Fellowship Entertainment: Key financials
OPERATING SEGMENT | FELLOWSHIP ENTERTAINMENT Fellowship Entertainment: Key financials FY FY FY 2024/25 2025/26 2026/27 KEY DRIVERS Q1 FY 2026/27 SEK million Full year Q1 Q2 Q3 Q4 Full year Q1 Net sales impacted by strong Net Sales 5,524 1,058 1,072 1,359 855 4,345 810 Kingdom Come: Deliverance II
Slide 11: Publishing & Development: Titles announced-to-date
OPERATING SEGMENT | FELLOWSHIP ENTERTAINMENT Publishing & Development: Titles announced-to-date FY 26/27 anchored by Metro, Tomb Raider, Warhammer 40k: Dawn of War IV Publishing & Development Core upcoming releases Warhammer 40 000: Dawn of War IV | PC 3 December 2026 Stage Tour | PC, XB X|S, PS
Slide 12: Licensing: Expanding our IPs with world class partners
OPERATING SEGMENT | FELLOWSHIP ENTERTAINMENT Licensing: Expanding our IPs with world class partners Magic: The Gathering® | The Hobbit , © & TM Mee under lic. to Wizards of the Coast 12
Slide 13: Embracer: Highlights
OPERATING SEGMENT | EMBRACER Embracer: Highlights PERFORMANCE COMMENTS SEKm Growth: 48% | Organic growth: 63% The Embracer operating segment delivered 63% organic growth, with growth across all segments 4,000 Core revenue drivers included the successful new release of 3,134 m Gothic 1 Remake and
Slide 14: Embracer: Business area performance
OPERATING SEGMENT | EMBRACER Embracer: Business area performance PC/CONSOLE NET SALES | SEK million MOBILE NET SALES AND | SEK million Growth: 68% Growth: 17% 800 728 800 610 600 600 520 433 400 400 200 200 0 0 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 FY 25/26 FY 26/27 FY 25/26 FY 26/27 Net sales Net sales ENT
Slide 15: Embracer: Key financials
OPERATING SEGMENT | EMBRACER Embracer: Key financials FY FY FY 2024/25 2025/26 2026/27 KEY DRIVERS Q1 FY 2026/27 SEK million Full year Q1 Q2 Q3 Q4 Full year Q1 Net sales grew 66% organically Net Sales 15,790 2,113 2,555 3,817 3,075 11,561 3,134 with Entertainment & Gross Profit 10,281 1,257 1,492
Slide 16: Embracer: Pipeline
OPERATING SEGMENT | EMBRACER Embracer: Pipeline PC/Console Core upcoming releases Hot Wheels: Infinite Rush | PC, XB X|S, PS5, Switch 2 10 September 2026 Way of the Hunter 2 | PC1, XB X|S, PS5 29 September 2026 The Guild – Europa 1410 | PC (Early Access) September 2026 The Eternal Life of Go
Slide 17: Financial performance
i Financial performance A A YZ ¥
Slide 18: Group financial development
Q1 INTERIM REPORT | FY 2026/27 Group financial development NET SALES & GROSS MARGIN DEVELOPMENT | SEKm DEVELOPMENT OF OPERATING EXPENSES, NET | SEKm 6,000 2,000 5,000 104 163 3,943 1,500 4,000 68% 65% 61% 222 3,000 55% 56% 300 1,000 3,171 2,000 500 1,000 1,126 972 0 0 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 F
Slide 19: Cash flow and net cash
Q1 INTERIM REPORT | FY 2026/27 Cash flow and net cash FY 26/27 FY 25/26 FY 26/27 FY 25/26 June 30, June 30, SEKm SEKm Q1 Q1 Q1 TTM Full Year 2026 2025 Adjusted EBITDA 775 703 3,828 3,757 Cash 4,997 6,879 Capex -677 -736 -2,943 -3,002 Current liabilities to credit institutions -825 -1,479 Payment of
Slide 20: Cash EBIT of at least 1.0 SEK billion
Q1 INTERIM REPORT | FY 2026/27 Forecast FY 2026/27 Cash EBIT of at least 1.0 SEK billion For the current financial year 2026/27, the Cash EBIT forecast of at least SEK 1.0 billion is reiterated. In Q2, a year-on-year Cash EBIT improvement in a similar pattern to Q1 is expected. Free cash flow
Slide 21: Q&A
Q&A
Slide 22: Appendix
Appendix
Slide 23: Revised KPI definitions from Q1 FY 2026/27
Q1 INTERIM REPORT | FY 2026/27 Revised KPI definitions from Q1 FY 2026/27 From Q1 FY 2026/27, certain KPI definitions have been revised for greater relevance, consistency and clarity. Headcount Employees engaged by the Group; external headcount excluded External Titles Renamed from Published Titles
Slide 24: Embracer Group
EMBRACER* GROUP