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Thunderful Group Year-End Report January–December 2022

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Strong cash flow and improved profitability

Fourth quarter October–December 2022

  • Net revenue decreased 9.2% to 1,200.5 MSEK (1,322.6).
  • Operating profit (EBIT) increased 71.0% to 143.1 MSEK (83.7), corresponding to an operating margin of 12.4% (6.0).
  • Adjusted EBITDA increased 31.4% to 185.2 MSEK (140.9), corresponding to an adjusted EBITDA margin of 16.1% (10.2).
  • Adjusted EBITA increased 40.9% to 165.7 MSEK (117.6), corresponding to an adjusted EBITA margin of 14.4% (8.5).
  • Profit for the quarter amounted to 130.4 MSEK (50.0).
  • Earnings per share after dilution amounted to 1.86 SEK (0.71).
  • Cash flow from operating activities amounted to 406.3 MSEK (18.6).
  • Consolidated cash and cash equivalents together with unutilised credit facilities amounted to 493.7 MSEK (122.2).
  • Thunderful entered into an agreement regarding changes of additional earn-out component in relation to the acquisition of Coatsink Software Ltd.
  • Thunderful acquired Jumpship Ltd November 15 2022, see note 1 in attached PDF.

Full year January–December 2022

  • Net revenue decreased 3.5% to 3,030.7 MSEK (3,140.8).
  • Operating profit (EBIT) declined 6.1% to 196.1 MSEK (208.8), corresponding to an operating margin of 6.1% (6.4).
  • Adjusted EBITDA increased 5.4% to 375.6 MSEK (356.5), corresponding to an adjusted EBITDA margin of 11.7% (10.9).
  • Adjusted EBITA declined 4.7% to 284.8 MSEK (298.8), corresponding to an adjusted EBITA margin of 8.9% (9.1).
  • Profit for the full year amounted to 121.2 MSEK (132.2).
  • Earnings per share after dilution amounted to 1.72 SEK (1.90).
  • Cash flow from operating activities amounted to 497,5 MSEK (–64.9).
  • The Board of Directors will not propose any dividend to be paid or the financial year 2022 to the Annual General Meeting.

Events after the end of the period
No significant events since the end of the period.

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 22 February 2023.

For more information, please contact:
Anders Maiqvist, Acting CEO, Thunderful Group, +46 739 37 24 36
Lennart Sparud, CFO, Thunderful Group, +46 705 58 66 04

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 headquarter is located in Gothenburg, Sweden, with additional offices in Aarhus, Berlin, Cologne, Copenhagen, Guildford, Helsinki, Hong Kong, Karlshamn, Kungsbacka, Larvik, Madrid, Malmö, Newcastle, Skövde and Stockholm. 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.

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Q4 Year-End Report

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