A year or so ago the Embracer Group was on a video game studio buying spree, purchasing numerous studios on almost a weekly basis and they now own The Lord the Rings gaming franchise, Legacy of Kain, Tomb Raider and much, much, more. Fast forward and we all found out that Embracer Group would have to close a number of those purchased studios as a cost cutting measure. Now Embracer Group CEO, Lars Wingefors, has hinted that they plan to implement more cost cutting measures. Lars told investors that the company is “making good progress on the restructuring program” though it is now looking at a “global review of the existing pipeline” of development studios and video games to help “optimize return on investment.”
“We are making good progress on the restructuring program. We are tracking towards the targets, including reducing capex by at least SEK 2.9 billion and overhead costs by at least SEK 0.8 billion by FY 2024/25, as well as reaching a financial net debt below SEK 8 billion by the end of this financial year. “Initial actions have been taken on closure and other initiatives to reduce the number of projects and studios and overhead savings initiatives have been defined in co-ordination with the Operative Groups. “With a series of initial actions now taken, we expect further savings after the completion of a global review of the existing pipeline, which is currently ongoing. This review will guide our capital allocation to optimize return on investment. “The purpose of the program is to operate with efficiency across the group and to reduce business risk in the short-term.”
Embracer Group CEO Lars Wingefors
Money.
Gime original psx tomb raider 1-5 in pal eu quality and i dont need nothing more :) i Pay 60eur no problem if games is without modern shits. Only psx original (no android trash or other ports).