Games sales up 51% at THQ Nordic at end of 2019

Games sales up 51% at THQ Nordic at end of 2019

Swedish games firm Embracer has reported that its games business saw a 51 per cent increase in net sales for the last three months of 2019.

In the THQ Nordic parent firm's financial report for the period, the company says it made kr1.5bn ($150m) in total, with the games arm bringing in kr835.7m ($85.2m) for the period. The firm's EBITDA rose 59 per cent for the period to kr518.4m ($52.83m).

The firm said that it wants to have "at least two" triple-A titles launched in the next financial year, though it's not sure if one of these is going to be Biomutant which the company does insist is still in active development.

"The Group kept growing in terms of owned IP:s, development studios and employees," CEO Lars Wingefors (pictured) said.

"We are now over 3,000 employees with 26 owned studios. There are strong dynamic forces in a Group where so much talent comes together. We have a great potential in developing collaborations within the Group, pooling ideas and solutions to recurring problems and sharing professional practices. We have still only just tapped on the potential to leverage the true potential of such collaboration. We have made good progress in building the parent company and improving our capabilities and are now better equipped than ever to harness the energy and creativity that is found across the Group. As we keep growing, we will be opening new career paths, providing best practice benchmarks as well as strengthening our sustainability framework – 'Smarter business'.

"To conclude, I would like to send my thanks to all of our shareholders, customers, colleagues and business partners
for contributing to the prosperity and success of our growing family. Our most exciting years are still ahead of us."

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.