Embracer Group Results Presentation Deck
EARNOUTS AND APM UPDATE
FY 2022/23 -– derivation of EPS and BS metrics
Earn out
Derivation
Cash obligation included in
purchase price
Cash obligation classified as
personnel cost
Total cash obligation
Share obligation included in
purchase price
Share obligation classified as
personnel cost
Total share obligation
GAAP
5,595 SEKM
3,065 SEKM
8,595 SEKM
173 million shares
65 million shares
238 million shares
NON-GAAP
8,595 SEKM
0 SEKM
8,595 SEKM
238 million shares
0 million shares
238 million shares
To reflect a true and fair picture of the Obligations related to historical
acquisitions, obligations treated as personnel liability is included as part of
the purchase price under NON-GAAP. Hence, operationally it is more
representative to include all of the cash and shares obligations as part of
purchase price.
Adjusted earnings per share
Derivation
Net profit
Average number of shares, no
dilution
Dillution
Average number of shares, dilluted
Earnings per share after full
dilution
Not adjusted (GAAP)
4,454 SEKM
1,069 million
+12 million
1,081 million
4,12
Adjusted (NON-GAAP)
5,515 SEKM
1,252 million
+108 million
1,360 million
4,06
Average number of diluted shares under GAAP is lower due to that shares
that has not been released to the recipients due to target achievement is
excluded.
The overall higher share count in NON-GAAP is used to reflect the actual
shares outstanding and the maximal amount of shares that could be issued to
settle future obligations. Hence the diluted share count is 279 million higher.
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