Poat Group has published its financial results during the nine months that end on December 31, 2024, informing decreases in its PC/console and mobile segments.
However, he experienced a net gain during his third quarter after the completed spin-off of the Table Asmodee editor.
This is what you need to know:
The numbers:
During the three months that end on December 31, 2024
Net sales: SEK 7.4 billion ($ 680 million), 3% less year -on -year, which includes:
- PC/console games: SEK 2.6 billion ($ 242 million), 23% less year after year
- Mobile games: SEK 1.6 billion ($ 149 million), 2% more year -on -year
Net profit: SEK 960 million ($ 89 million, compared to the net loss of 1.8 billion SEK / $ 167 million during the same period last year)
During the nine months that end on December 31, 2024:
Net sales: SEK 16.9 billion ($ 1.5 billion), 22% less year -on -year, including:
- PC/console games: SEK 7.3 billion ($ 679 million), 35% less year -on -year
- Mobile games: SEK 4.4 billion ($ 409 million), 3% less year after year
Net loss: SEK 1.3 billion ($ 121 million, compared to the net loss of 1,400 million SEK / $ 130 million during the same period last year)
The outstanding aspects:
The Abacer group attributed its Gain of 960 million ($ 89 million) during the third trimester to the split of the Table Editor Asmodee.
The process was completed on February 7, 2025, and Asmodee is now a company that lies separately in Nasdaq Stockholm.
Coffee Stain & Friends is the last company in independently of the embarrass group, since it is divided into three companies that appear publicly. The companies and friends of the Middle Earth, which include the developers Warhorse Studios and Crystal Dynamics, will remain within the embarrass group as is currently.
This continuous process resulted from a nine -month restructuring program, which saw the closure of the volition games, the design of free radicals and the fire clique and the sale of Sabre Interactive and Gearbox. As a result, more than 1,400 employees were fired.
At the end of 2024, the Embarcer Group registered a net debt of SEK 3.2 billion ($ 298 million, compared to SEK 16.1 billion / $ 1.5 billion at the end of 2023.
The number of games developers working in the embarrass group compared to the same period of last year fell from 9,896 to 5,757. Total staff fell from 12,695 to 7,873 employees.
Returning to the Financial Report, the embarrass group saw a decrease in its PC/console segment due to “new limited releases” and the divestment of knowledge and gearbox that is included in comparison figures.
The income of the subsequent catalog titles, including platform offers, fell 14% to 1.7 billion SEK ($ 158.7 million), which was also affected by Sabre and Gearbox’s sales.
However, the Endar Group highlighted the success of Warhorse Studios’ Kingdom Come: Deliverance 2, which was launched on February 4.
The action role -play game reached 1 million players in 24 hours and had more than 250,000 concurrent players in Steam.
“It is our strong belief that the game will continue to generate substantial income in the coming years, highlighting the exceptional quality, the immersion and attraction of the kingdom: Deliverance 2,” said the CEO Lars WingeFors.
“Warhorse Studios has a robust road map, which includes updates and a new content in the next 12 months, ensuring an attractive and continuous evolution for the community.”
As a result, the embarrass group has an optimistic perspective for its results of the fourth quarter, which attributes not only to Kingdom: Deliverance 2, but also the launch of the 3rd floor of March 3 of Tripwire Interacitve on March 25.
However, he said that income is expected to “be negatively affected” by the launch of Hyper Light Breaker of Heart Machine, which was launched in early access on January 14.
In another part of the report, the Poat Group reported a slight growth in mobile devices, which was attributed to a strong holiday period for Dec Games and CrazyLabs.
The latter saw two new releases that promoted “a higher cost of acquiring sales and acquisition of users.” The firm said that mobile devices are expected to enter “in growth mode” during H1 FY2025-26, driven by crazylabs that take over the publication rights of the bus frenzy: traffic traffic.
“Embarrassing today has a greater approach to the development of IP within PC/console and mobile,” WingeFors said. “However, we recognize that there is still a job to do to improve our operational resilience and optimize our business for the future.”
He added: “When observing the next three financial years, we currently have 10 AAA games in development, of which eight are of internal studies and two of external studies. This number does not include launches in the current quarter or any project financed by third parties.
“However, we want to be clear that there is room to provide more time for development if it is considered necessary to optimize both quality and the general roi, as we did with Dead Island 2 and Kingdom: Deliverance 2.”
