‘Lord Of The Rings’ Owner Embracer Sees Full-Year Entertainment Sales Grow To $678M
deadline.comEmbracer Group‘s masterplan to build on its Lord of the Rings IP is in its infancy, but the signs are good. The company’s annual report for 2023/2024 showed the Entertainment & Services division that currently houses them posted net sales of SEK7.08B ($678M), up 34% on SEK5.27B posted in the previous year.
This accounts for about 17% of company net sales. Adjusted earnings before interest and tax stood at SEK853M for the April 2023 to March 2024 period, well up from the SEK281M posted a year prior with widened margins.
However, EBIT showed a loss of SEK413M, up from the SEK 170M loss the year before, with costs incurred during wide scale restructuring over the past year impacting across the Embracer footprint.
Embracer said “the strong adjusted EBIT growth and higher margins YoY is primarily explained by stronger-than-expected licensing revenue for The Lord of the Rings IP,” which sits in Middle-earth Enterprises unit within the Freemode operating group.
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