THQ Nordic AB’s upcoming Annual General Meeting on 17 September 2019 will, among other things, resolve on adopting the new name Embracer Group AB. You are hereby invited to a webcast as part of the AGM. At the webcast, the usual presentation will be supplemented by an in-depth look at the company’s new name, brand platform and visual identity as well as an update on the future Embracer Group’s organization, business operations and future prospects.
THQ Nordic AB's indirectly wholly owned subsidiary Koch Media GmbH has today entered into an agreement to acquire Milestone s.r.l., which was announced earlier today through a press release, for a upfront purchase price equivalent to 44.9 MEUR on a cash and debt free basis. All conditions for the transaction have now been fulfilled and the transaction is thereby completed.
The shareholders of THQ Nordic AB, reg. no. 556582-6558, (the "Company") are hereby invited to the annual general meeting on Tuesday 17 September 2019 at 15.00 CET at Elite Stadshotellet, Kungsgatan 22 in Karlstad. The doors to the meeting will open at 14.30 CET.
THQ Nordic AB today presents the Board of Directors’ proposal to change the name of the parent company THQ Nordic AB (publ) to Embracer Group AB (publ). The strategic rationale behind the proposal is to clarify the group structure and strategy with the Parent Company as a holding company.
THQ Nordic AB has acquired Goodbye Kansas Game Invest AB (“GKGI”) through its wholly owned subsidiary THQ Nordic Lager 1 AB. The favourable purchase price of SEK 42.4m on a cash and debt free basis is notably below the capital invested by GKGI in its platform and the portfolio companies. Through the acquisition THQ Nordic strengthens its platform for minority investments in promising development studios.
THQ Nordic AB's ("THQ Nordic") wholly owned subsidiary THQ Nordic GmbH has entered into an agreement to acquire Gunfire Games, LLC (“Gunfire”) in Austin, Texas. Gunfire is the developer behind the critically acclaimed game series Darksiders®, Chronos® and From Other Suns® and is a long-term developing partner of THQ Nordic. Through the acquisition THQ Nordic adds a strong team of RPG experts and award-winning VR developers with an existing intellectual property (IP) portfolio and an exciting new game pipeline.
The acquisition includes the development studio that includes a team of 63 creative and technical game developers and all IP rights. The purchase price will not be disclosed. THQ Nordic expects to recoup its investment over the course of 3-4 years as current development projects are released.
THQ Nordic AB's indirectly wholly owned subsidiary Koch Media GmbH has today entered into an agreement to acquire Milan-based Milestone s.r.l., a leading racing games developer and publisher behind successful game series such as MotoGP, MXGP, RIDE and Monster Energy Supercross. The upfront purchase price is equivalent to 44.9 MEUR on a cash and debt free basis, plus additional earn-out considerations subject to fulfilment of agreed future profitability target. THQ Nordic estimates Milestone to have net revenues in the range of 27.5-32.25 MEUR, EBITDA of 15.5-18.0 MEUR and Operating EBIT of 10.75-12.5 MEUR in its next financial year ending June 2020.
FIRST QUARTER, APRIL–JUNE 2019
(Compared to April–June 2018)
> Net sales increased 36% to SEK 1,142.0 million (837.4).
> EBITDA improved 88% to SEK 389.5 million (206.9), corresponding to an EBITDA margin of 34%.
> Operational EBIT rose 193% to SEK 204.0 million (69.7) corresponding to an Operational EBIT margin of 18%.
> Cash flow from operating activities amounted to SEK 441.3 million (164.5).
> Earnings per share was SEK 0.52 (0.42).
> Adjusted earnings per share was SEK 1.53 (0.58).
CEO COMMENTS: OPERATIONAL EBIT INCREASED 193% TO SEK 204 MILLION
We started our financial year 2019-2020 with another stable growth quarter. Net sales increased 36% to SEK 1,142 million, driven by strong back catalog sales. Operational EBIT grew 193% to SEK 204 million, raising the Operational EBIT margin to 18% from 8%. The improved margin was driven by digital sales – which collectively rose to an average TTM of 58% across our three Games business areas. We generated SEK 441 million in cash flow from operations during the quarter and had close to SEK 3.2 billion in cash and cash equivalents at the end of the quarter.
Klemens Kundratitz has notified THQ Nordic AB (publ) that Koch Media Holding GmbH has sold 611,989 shares in THQ Nordic AB (publ) in a block trade to a group of institutional investors. Koch Media Holding GmbH was previously the parent company of the Koch Media Group and is owned by Franz Koch, Founder and Klemens Kundratitz, CEO and co-Founder of the Koch Media Group.
(Compared to January–March 2018)
JANUARY 2018–MARCH 2019, 15 MONTHS
(Compared to full year 2017)
THQ Nordic AB (publ) is today announcing the acquisition of the assets belonging to the group of companies doing business as Piranha Bytes (“Piranha”). Piranha is the developer behind the critically acclaimed game series Gothic ®, Risen® and ELEX® and is a long-term developing partner to THQ Nordic. Through the acquisition THQ Nordic adds a strong portfolio of existing intellectual properties (IPs) and an exciting new game pipeline.
The acquisition includes the development studio and all IP rights. The parties have agreed upon not disclosing the purchase price. However, the purchase price equals c. three years of what management’s estimated royalty payments to Piranha for upcoming titles would have been, if the acquisition had not occurred.
THQ Nordic hereby invites you to a presentation in connection with the publishing of the full-year report for the extended fiscal year 2018/2019 and the interim report for the fifth quarter, the period January-March 2019. The report will be published the same morning, well before the market opens.
Koch Media, a wholly owned subsidiary of THQ Nordic AB (publ), has today received a statement of objections from the European Commission, which has also been publicly announced. The proceedings origin back to business performed prior to 2015.
The extra general meeting of THQ Nordic AB (“THQ Nordic” or the “Company”) was held today on 8 March 2019 in Stockholm and the following resolutions were passed by the meeting.
The shareholders of THQ Nordic AB, reg. no. 556582-6558, (the "Company") are hereby invited to the extra general meeting on Friday 8 March 2019 at 13.00 pm CET at Baker & McKenzie's premises at Vasagatan 7 in Stockholm. The doors to the meeting will open at 12.45 pm CET.
The Board of Directors of THQ Nordic AB (“THQ Nordic” or the “Company”) has, as communicated in the Company’s press release earlier today, resolved to issue maximum of 11,000,000 Class B shares, where a maximum of 4,732,662 shares are issued based on the authorization granted by THQ Nordic's annual general meeting on 16 May 2018 and a maximum of 6,267,338 shares are issued subject to the subsequent approval of the extraordinary general meeting (the “Directed new share issue”). The subscription price in the Directed new share issue is SEK 190 per share. Through the Directed new share issue THQ Nordic will receive proceeds amounting to approximately SEK 2,090 million before transaction costs. The subscription price in the Directed new share issue has been determined through a so-called “accelerated book-building” procedure led by Carnegie Investment Bank AB (publ) and Nordea Bank Abp, filial i Sverige. The Directed new share issue was substantially oversubscribed. Subscribers in the Directed new share issue are a wide range of Swedish and international institutional investors including reputable new investors such as First National AP Fund, Second National AP Fund and Odin Fonder as well as current shareholders Swedbank Robur Fonder AB, TIN Fonder with the fund Core Ny Teknik and Olsson Family and Foundation.
THQ Nordic AB (“THQ Nordic” or the “Company”) hereby announces its intention of a placement of Class B shares corresponding to approximately 10 percent of the capital in the Company (the “New shares”) through issuance of new shares directed to Swedish and international institutional investors, which is intended to be carried out based on the authorization granted by the annual general meeting 2018 and subject to the approval of an extra general meeting (the “Directed new share issue”). THQ Nordic has engaged Carnegie Investment Bank AB (publ) and Nordea Bank Abp, filial i Sverige, to investigate the conditions for a placement of new Class B shares through a so-called “accelerated bookbuilding” procedure.
Embracer Group is the parent company of businesses developing and publishing PC and console games for the global games market. The Group has an extensive catalogue of over 160 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest and World War Z amongst many others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its five operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest and Saber Interactive. The Group has 31 internal game development studios and is engaging more than 3,500 employees and contracted employers in more than 40 countries.