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    EMBRAC B   SE0013121589

EMBRACER GROUP AB (PUBL)

(EMBRAC B)
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Embracer : Gaming group Embracer expands in VR with Vertigo Games acquisition

09/16/2020 | 03:12am EDT

Swedish game developer Embracer has agreed to buy Netherlands-based virtual reality (VR) games maker Vertigo Games for 50 million euros ($59.25 million) upfront and a possible additional payment of up to 65 million depending on its performance over the coming years.

"We have been monitoring the VR market over the past years very closely," Klemens Kundratitz, CEO at Embracer subsidiary Koch Media said in a statement on Wednesday.

"We feel that now is the right time to extend our groups activities into this fast-growing market."

The upfront payment consists of 40 million euros in cash and 10 million in newly issued Embracer B-shares.

"Subject to fulfilment of agreed earnings targets and release of certain titles during an up to 10 years period an earn-out consideration of a maximum of EUR 65 million may be paid," Embracer said.

Embracer, which develops and publishes PC, console and mobile games, has seen its share soar 133% this year, boosted by a strong earnings performance and a string of gaming studio acquisitions.

($1 = 0.8440 euros)

(Reporting by Johannes Hellstrom)


ę Reuters 2020
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Financials
Sales 2021 8 972 M 1 043 M 1 043 M
Net income 2021 -29,8 M -3,46 M -3,46 M
Net cash 2021 8 228 M 956 M 956 M
P/E ratio 2021 -893x
Yield 2021 -
Capitalization 114 B 13 215 M 13 260 M
EV / Sales 2021 11,8x
EV / Sales 2022 6,13x
Nbr of Employees 6 325
Free-Float 65,9%
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Technical analysis trends EMBRACER GROUP AB (PUBL)
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 299,50 SEK
Last Close Price 228,00 SEK
Spread / Highest target 57,5%
Spread / Average Target 31,4%
Spread / Lowest Target 9,65%
EPS Revisions
Managers and Directors
NameTitle
Lars Eric Olof Wingefors Chief Executive Officer & Director
Per Johan Ekstr÷m Chief Financial Officer
Kicki Wallje-Lund Chairman
Ulf Hjalmarsson Independent Director
Jacob Jonmyren Independent Director
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