Embracer boss Lars Wingefors insists it’s ‘way too early’ for the company to think about acquiring new studios

The Embracer Group CEO Lars Wingefors has emphasised it is "way too early" for the company to start thinking about acquiring new studios.

The company has been forced to implement cost-cutting measures in recent months - including job losses and the cancellation of games - and Wingefors insists that the "highest focus and priority" was to increase profitability by "simply making better products and games".

When asked about the prospect of future acquisitions, he told investors: "Now we are in the late phases of the consideration into the future of the group, and that's our highest focus and priority – how we set up ourselves and structure ourselves, and utilise our assets we have within the group, and have them work together, and how we leverage them better working together, utilising different functions.

"I think that's our focus right now – to increase profitability and cashflow generation, by simply making better products and games."

Despite the financial issues, Wingefors has emphasised that what remains of the company is "not for sale"

He explained: "We are getting approached, I would say not quite daily, but on a weekly basis, by companies that would like to acquire certain assets within the group.

"And I've been very clear that they're not for sale, because they're a very important part for the group and for the shareholders of the group going forward."