Enad Global 7 AB (publ) ("EG7") today announces that the Group has completed cost-saving measures within its business units, Petrol and Piranha Games. A proposal for reduced Board remuneration has also been submitted for the Annual General Meeting.
As part of the continued execution of the Group's strategic review, EG7's management and Board are currently conducting a broader assessment of development, performance, and long-term value creation across all business areas. The measures outlined below aim to further improve profitability and operational efficiency.
Petrol
Within Petrol, a restructuring of the operations has been carried out, including personnel reductions, reduced external costs, and lower facility-related expenses. The restructuring aims to align the business with current demand levels and improve profitability. The measures are expected to result in annual cost savings of approximately SEK 13 million with effect from the second quarter of 2026.
Piranha Games
Piranha Games realigned its business with an aim to bring the organization back to consistent profitability going forward and to strengthen its long-term competitiveness. The effort included a review of development processes as well as downsizing of its staffing. The measures are expected to result in an annual cost reduction of approximately SEK 15 million with effect from the second quarter of 2026.
Proposal for reduced Board costs
Ahead of the upcoming Annual General Meeting, proposals have been submitted to reduce Board remuneration, including that Board members who are also major shareholders waive their compensation. In addition, the compensation to the CEO will be reduced.
The proposed measures are expected to reduce costs by approximately SEK 4 million on an annual basis, subject to approval by the Annual General Meeting. The proposal reflects the Board's and major shareholders' focus on cost discipline and leading by example, particularly as the Group continues to optimize its cost base following some years of elevated investments that will give important data the upcoming 12 months.
Expected combined impact
The above measures are expected to result in total annual cost savings of approximately SEK 32 million with effect from the second quarter of 2026.
The measures are in line with the Group's previously communicated work on the ongoing evaluation of its business units during 2026. In addition, based on performance and what was communicated in the five-year financial overview that was published in February, these measures were necessary to bring Petrol and Piranha back to sustainable profitability levels.
EG7 believes that these initiatives will contribute to a more efficient cost base and strengthen the Group's financial profile going forward.
FOR MORE INFORMATION, PLEASE CONTACT:
Fredrik Rüdén, Group Deputy CEO and CFO
Phone: +46 733 117 262
fredrik.ruden@enadglobal7.com
Robin Lundell, Head of Investor Relations & Sustainability
Phone: +46 730 587 608
robin.lundell@enadglobal7.com
About EG7
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The company employs approximately 360 game developers and develops its own original IPs, as well as acts as consultants to other publishers around the world through its game development divisions Daybreak Games, Piranha Games and Big Blue Bubble. In addition, the group's marketing department Petrol has contributed to the release of 2,000+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage. The group's publishing and distribution departments Fireshine Games hold expertise in both physical and digital publishing. EG7 is headquartered in Stockholm with approximately 560 employees in 12 offices worldwide.
Enad Global 7 is listed on Nasdaq Stockholm with Ticker Symbol: EG7
