Erik Larsson's questions to Embracer Group AB (EBCRY) leadership • Q4 2025
Question
Erik Larsson questioned the cautious full-year outlook, where EBIT is expected to be similar to the prior year despite a significant increase in the value of released games, asking if this reflects broad conservatism or issues with specific titles.
Answer
CEO Lars Wingefors confirmed the company is adopting a more cautious approach based on historical performance. He cited Killing Floor 3 as an example where expectations are conservative, with limited EBIT contribution factored in. He also noted that the financials for the Marvel 1943: Rise of Hydra title are more limited due to shared economics, which also contributes to the cautious guidance despite its AAA status.