Volition Games has shut down as part of Embracer Group’s ongoing restructuring. The studio, which has roots going back to 1993, is behind the Saint’s Row series, Red Faction, and Summoner.
18.08.2023 - 08:57 / pcgamesinsider.biz / Alex Calvin / Lars Wingefors
Sweden's Embracer Group saw a 47 per cent increase in net sales for the first quarter of its financial year.
That's according to the company's report for the three months ending June 2023, in which it reported that it brought in SEK 10.450 billion ($953 million) for the quarter.
Embracer's PC and console games division saw a massive 74 per cent increase in sales, clocking in at SEK 3.996 billion ($364 million), something that was driven by Plaion's Dead Island 2, which launched in April of this year. The company's mobile games arm saw a three per cent decrease in sales.
"In Q1, we achieved organic growth of 20 per cent and Adjusted EBIT of SEK 1.7 billion," CEO Lars Wingefors (pictured) said.
"In recent months, we have released two successful sequels, Dead Island 2 and Remnant II. We now have increased confidence regarding earnings this year and we are on track to deliver on the restructuring program announced on June 13, 2023, with a series of initial actions now taken. Even though it’s a challenging time for everyone impacted, I am confident we will emerge a stronger company."
This comes in the wake of a troubled few months for the Swedish games firm. In May it announced that a $2 billion partnership had fallen apart, resulting in Embracer having to cut jobs, projects and studios. That failed deal appears to have been with Saudi Arabia's Savvy Games Group.
Disclaimer: Alex Calvin is a freelance writer and journalist who has worked with Embracer's Plaion and Dark Horse divisions
Volition Games has shut down as part of Embracer Group’s ongoing restructuring. The studio, which has roots going back to 1993, is behind the Saint’s Row series, Red Faction, and Summoner.
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Swedish games firm Embracer Group has said it is moving on from the collapsed $2 billion partnership it announced at back in May.
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Embracer Group has published its financial results for Q1, showing growth in net sales in all but one operating segment.
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Embracer CEO confident amid ongoing challenges and restructuring.
The wait for Dead Island 2 lasted nearly a decade, but the game did finally launch earlier this year, and turned out to be a critical and commercial success. In May, it was revealed that the action RPG had sold over 2 million units worldwide, and interestingly enough, Embracer Group – parent company of publisher Deep Silver – is expecting those sales to accelerate next year when the game launches for another platform.
Embracer said its restructuring program is on track and confirmed it's quietly moving forward with studio closures.