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Thunderful Group Year-End Report January–December 2021

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Strongest quarter for Thunderful Group so far. Growth and improved profitability in distribution, lower profitability but organic growth in Games.

FOURTH QUARTER OCTOBER–DECEMBER 2021

  • Revenue increased 7.6% to 1,386.7 MSEK (1,288.3).
  • Adjusted EBITA rose 22.0% to 117.6 MSEK (96.4), corresponding to an adjusted EBITA margin of 8.5% (7.5).
  • Adjusted EBITDA increased 37.9% to 140.9 MSEK (102.2), corresponding to an adjusted EBITDA margin of 10.2% (7.9).
  • Operating profit (EBIT) increased 23.5% to 83.7 MSEK (67.8), corresponding to an operating margin of 6.0% (5.3).
  • Profit for the quarter amounted to 50.0 MSEK (34.5).
  • Earnings per share after dilution amounted to 0.71 SEK (0.60).
  • Cash flow from operating activities amounted to 18.6 MSEK (–165.4 MSEK)
  • Thunderful Group acquired Robot Teddy Ltd on 27 October 2021.
    Refer to Note 1 in attached PDF.
  • Thunderful Group acquired Early Morning Studio AB on 16 November.
    Refer to Note 1 in attached PDF.

PERIOD JANUARY–DECEMBER 2021

  • Revenue increased 6.2% to 3,273.8 MSEK (3,082.3).
  • Adjusted EBITA rose 10.1% to 298.8 MSEK (271.5), corresponding to an adjusted EBITA margin of 9.1% (8.8).
  • Adjusted EBITDA increased 22.3% to 356.5 MSEK (291.4), corresponding to an adjusted EBITDA margin of 10.9% (9.5).
  • Operating profit (EBIT) declined 2.8% to 208.8 MSEK (214.9), corresponding to an operating margin of 6.4% (7.0).
  • Profit for the period amounted to 132.2 MSEK (137.4)
  • Earnings per share after dilution amounted to 1.90 SEK (2.64).
  • Cash flow from operating activities amounted to –64.9 MSEK (–88.6 MSEK)
  • During the year, Thunderful Group acquired the game publisher and game developer Headup, the animation company Tussilago, the startup game studio To The Sky, the game studio Stage Clear Studios, the business development company Robot Teddy and the game developer Early Morning Studio.
  • Thunderful Group’s subsidiary Coatsink Software Ltd signed new game development agreements valued at more than 20 MUSD.

EVENTS AFTER THE END OF THE QUARTER

  • Bergsala AB has extended the distribution agreement with Nintendo of Europe GmbH.
    Refer to page 17 in attached PDF.
  • Thunderful Group has entered into a confirmed credit facility of 55 MEUR with Danske Bank. Refer to page 17 in attached PDF.
  • Thunderful Group AB’s CFO Anders Maiqvist has decided to step down from his position as CFO. Refer to page 17 in attached PDF.

This information is of a nature that Thunderful Group AB is obligated to publish under the EU’s Market Abuse Regulation. It was submitted for publication through the agency of the contact persons set out below at 7:30 a.m. CET on 17 February 2022.

For more information, please contact:
Brjánn Sigurgeirsson, CEO, Thunderful Group
Email: brjann@thunderfulgroup.com
Phone: +46 708 16 16 32

Anders Maiqvist, CFO, Thunderful Group
E­mail: anders.maiqvist@thunderfulgroup.com  
Phone: +46 739 37 24 36

About Thunderful Group
Thunderful Group is a group of companies that develops, publishes and invests in games, while also distributing Nintendo products, games, game accessories and toys. The headquarters is located in Gothenburg, Sweden, with additional offices in Aarhus, Cologne, Copenhagen, Helsingborg, Helsinki, Hohenwestedt, Hong Kong, Karlshamn, Kungsbacka, Larvik, Madrid, Malmö, Newcastle, Skövde, Stockholm and Sunderland. The Group's overall goal is to provide high-quality entertainment products for people of all ages. Thunderful Group is listed on Nasdaq First North Premier. FNCA Sweden AB is appointed Certified Adviser, info@fnca.se, +46(0)8-528 00 399.

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