Embracer Group, known among other things for its tabletop gaming division Asmodee, has released its full-year and four-quarter financial results for 2022. In the summation of the year’s performance, chief executive Lars Wingefors received news about net sales growth with cautious pragmatism and even a tinge of disappointment.
He called the year past a difficult period for the company that saw demand for products fall, and releases that had much hope pinned on them ending up underperforming. Most of this seemed to be aimed at the company’s non-tabletop products. Embracer Group is not limited to just the tabletop gaming hobby, as the company also releases games for mobile, console and PC.
Surprisingly, it was board games that enjoyed a good uptick in the annual results, with the company’s tabletop division reporting strong results in both the fourth quarter and the full year. Full-year net sales for tabletop releases reached SEK13.1 billion or $1.2 billion. That was a remarkable 2,199% gain, the company outlined in its official report.
Similarly, tabletop sales made a strong gain in Q4 when the company saw the segment grow to SEK3 billion or $280 million, a gain of 438%. The company’s fourth quarter covers the period between January and March 2023*
During the three-month period, Embracer Group saw trading cards perform strongly, delivering on both revenue and gross margin. The company publishes a number of prominent products in this vertical, including Magic: The Gathering, Pokémon and Yu-Gi-Oh!, among other products.
Embracer’s strong results are in no small part owing to its decision to forge ahead with the acquisition of Asmodee, announced in 2021, which was completed in March 2022 for a sum total of $3.1 billion. Asmodee has become an important driver of revenue for the company and its business footprint.
The segment features 22 creative studios and more than 40 million games sold annually in 50 countries. The company publishes some of the most popular games in the hobby, including Star Wars: Legion, 7 Wonders, Azul, Exploding Kittens, Ticket to Ride, Catan, Splendor, Dabble/Spot It! and many more through its creative arms.
Embracer Group said that Asmodee did not see demand for products take a hit in the vertical during the fourth quarter between January and March 2023, despite geopolitical tensions in Europe.
*Financial years are not the same as calendar years. A company’s first or last financial quarter need not be the same as the calendar year.