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20/21 EMBRACER * GROUP INTERIM REPORT 3 OPERATIONAL EBIT INCREASED 100 % TO SEK 603 MILLION THIRD QUARTER , OCTOBER - DECEMBER 2020 ( COMPARED TO OCTOBER - DECEMBER 2019 ) > Net sales increased by 44 % to SEK 2,168.1 million ( 1,508.5 ) . Net sales of the Games busi ness area increased by 62 % to SEK 1,355.6 million ( 835.7 ) . THQ Nordic SEK 379.8 million ( 333.0 ) , Deep Silver SEK 496.9 million ( 466.6 ) , Coffee Stain SEK 99.2 million ( 36.1 ) , Saber Interactive SEK 307.0 million ( - ) and DECA Games SEK 72.7 million ( - ) . > Net sales of Partner Publishing / Film business area increased by 21 % to SEK 812.5 million ( 672.9 ) . > EBITDA increased by 70 % to SEK 878.7 million ( 518.4 ) , corresponding to an EBITDA margin of 41 % . OCTOBER - DECEMBER 2020 EMBRACER GROUP AB ( PUBL ) REG NO . 556582-6558 > Operational EBIT increased by 100 % to SEK 603.1 million ( 302.1 ) corresponding to an Operational EBIT margin of 28 % ( 20 % ) . > Cash flow from operating activities amounted to SEK 840.4 million ( 239.5 ) . Investments in intangible assets amounted to SEK -557.7 million ( -419.0 ) . Free Cash Flow amounted to SEK 309.1 million ( -207.3 ) . > Adjusted earnings per share was SEK 1.06 ( 0.68 ) . > Organic growth in constant currency for the Games Business Area amounted to 21 % in the quarter . > Total game development projects increased 56 % to 150 ( 96 ) . Total headcount increased 93 % to 5,730 ( 2,970 ) where total game developers increased 92 % to 4,325 ( 2,258 ) . Key performance indicators , Group Net sales , SEK m EBITDA , SEK m Operational EBIT , SEK m Cash flow from operating activities , SEK m Free cash flow , SEK m Oct - Dec Oct - Dec Apr - Dec Apr - Dec Apr 2019 2020 2019 2020 2019 Mar 2020 1,508.5 6,620.0 3,910.3 518.4 2,812.9 1,326.1 302.1 1,967.6 747.0 962.6 239.5 2,377.2 -207.3 419 96 824.4 -275.8 1,540 1,189 150 96 2,258 4,325 2,258 2,970 5,730 2,970 2,168.1 878.7 603.1 840.4 309.1 558 150 4,325 5,730 Total investments in intangible assets , SEK m Total game development projects Total internal and external game developers Total headcount Sales growth , % 44 9 EBITDA margin , % 41 34 Operational EBIT margin , % 28 20 In this report , all figures in brackets refer to the corresponding period of the previous year , unless otherwise stated . EMBRACER GROUP AB ( PUBL ) | OCTOBER - DECEMBER 2020 69 42 30 12 34 19 5,249.4 1,821.3 1,033.0 1,728.3 -0.1 1,653 103 2,365 3,109 3 35 20 1