Board game giant Asmodee made 100 times less profit than Games Workshop

Board game publishing and distribution giant Asmodee has published its annual report for the 2024-25 financial year, the first since it left its erstwhile parent company Embracer Group, and it has turned a profit – barely. The firm’s net profit for the year was $5.46 (€4.69) million on paper, dropping to $1.33 (€1.14) million after accounting for exchange rate fluctuations with its various international subsidiaries. That’s still a lot of money – but in 2023-24 tabletop titan Games Workshop realised a $204 (£150) million profit, despite having a far lower turnover. What gives?

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