Xbox |OT|

[Ryuu96]

We are tracking well towards the capex and opex targets set out in the restructuring program announced in June 2023, as we approach the final stretch of the program, which is focused on both possible divestments, and consolidation.

As part of the restructuring program, Embracer still has a few larger structured divestment processes ongoing that could strengthen our balance sheet and further reduce capex. Processes are in mature stages. Certain companies might initiate restructuring before any divestment is announced. Our overruling principle is to always maximize shareholder value in any given situation. We are unlikely to reach the restructuring program target of below SEK 8 billion in net debt by March 31. Certain divestments could significantly reduce net debt post March 31, 2024. To be clear, our group leverage target of net debt to Adjusted EBIT of 1.0x on a 12-month forward looking basis remains unchanged.

Embracer Group publishes Interim Report Q3, October-December 2023: NET SALES INCREASED BY 4 % TO SEK 12,050 MILLION - Embracer Group

Sounds like Embracer is about to sell a few studios.