Embracer Group AB (Publ) (THQQF) Q2 2024 Earnings Call Transcript

Embracer Group AB (Publ) (OTCPK:THQQF) Q2 2024 Results Earnings Conference Call November 16, 2023 3:00 AM ET

Company Participants

Martin Arnell - DNB Markets
Lars Wingefors - Co-founder and Chief Executive Officer
Johan Ekström - Group Chief Financial Officer and Deputy Chief Executive Officer
Müge Bouillon - Group Chief Financial Officer, Asmodee Group
Phil Rogers - Chief Executive Officer, Crystal Dynamics–Eidos and Interim Chief Strategy Officer

Conference Call Participants

Rasmus Engberg - Handelsbanken Capital Markets
Erik Larsson - SEB
Simon Jönsson - ABG Sundal Collier
Ali Naqvi - HSBC

Martin Arnell

Good morning, everyone. And welcome to Embracer's Q2 Results Presentation. My name is Martin Arnell, and I'm an analyst with DNB Markets in Stockholm. And I'm here to moderate the Q&A after management's presentation. [Operator Instructions].

And with that, I want to hand over to President and CEO, Lars Wingefors. And with him is Johan Ekström, the Deputy CEO and CFO.

Lars Wingefors

Thank you, Martin. And hello and a warm welcome to this Embracer Group's q2 presentation from Stockholm.

Before we get into the business details of our second quarter, I want to start this conference by saying a personal thank you to the 900 people that whom left Embracer during second quarter. As you will hear today, we are determined to transform Embracer into a leaner, stronger company.

That said, it's painful to me that you need to leave the group, and we have been and are doing everything we can to preserve jobs without changing what we need to achieve. Our people are what make up the very fabric of Embracer. For me personally, it's crucial that the program is carried out with compassion, respect and integrity.

Now, let's dive into the business highlights for second quarter. In Q2, we delivered a stable performance and improved cash flow, with the