PROMOTIONS DRIVE SALES, EBIT INCREASED BY 113%
We continue to capitalize on the scalability of our asset care business model. 77% of revenue is generated from our own IP’s. Net sales increased by 62% to SEK 85.6 m during the quarter, and EBIT increased 113% to SEK 30.3 m, corresponding to an EBIT margin of 35%.
Notably, sales of the previously released Darksiders games were strong, driven by promotions in May when we announced the upcoming Darksiders III. This illustrates how we increase the value of our existing catalogue by developing sequels that boost sales of previous titles.
The publishing and development teams are all very excited about the upcoming Gamescom tradeshow in Cologne, where we will present playable versions of upcoming sequels. We are confident about our continued progress in the second half of the year, with a major portion of the sales anticipated in the fourth quarter due to planned release dates and normal seasonality.
– LARS WINGEFORS, FOUNDER & CEO
Second quarter 2017
- Net sales increased by 62% to SEK 85.6 m (52.7).
- Owned titles represented SEK 65.2 m (38.6), or 77%, of net sales in the quarter.
- EBITDA was SEK 39.7 m (23.2), corresponding to an EBITDA margin of 46%.
- Cash flow from operating activities amounted to SEK 21.6 m (2.0).
- Earnings per share amounted to SEK 0.32 (0.18).
- 5 owned titles and 2 publishing titles launched in the second quarter.
All comparatives within parentheses refer to the corresponding period of the previous year, unless otherwise stated.
For additional information, please contact:
Lars Wingefors, Group CEO
Tel: +46 708 471 978
About THQ Nordic
The company acquires, develops and publishes PC and console games. The company has a wide catalogue of 270 games, including 81 owned franchises, such as Darksiders, Titan Quest, MX vs ATV, Red Faction, Destroy All Humans, Aquanox, ELEX, Jagged Alliance, SpellForce and The Guild. THQ Nordic has a global publishing reach within marketing, sales and distribution, both online and offline. The Group’s head office is based in Karlstad, Sweden and its operational office in Vienna, Austria. THQ Nordic employs and contractually collaborates 423 people and has four inhouse development studios based in Germany, USA and Sweden. THQ Nordic shares is public listed on Nasdaq First North Stockholm under the ticker THQNB:SS with FNCA Sweden AB as its Certified Adviser. For more information, please visit: http://www.thqnordic-investors.com or http://www.thqnordic.com.
This information is information that THQ Nordic is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.00 CET on August 15, 2017.Release