We continue to capitalize on our asset care strategy. During the quarter, we had higher sales of owned titles and increasing digital sales. Net sales increased by 8.8% to SEK 84.7 m, EBITDA was up 36% to SEK 34.6 m and EBIT increased by 50% to SEK 24.0 m compared to the same period last year.
During the quarter we acquired and welcomed two new development studios to the THQ Nordic family; Black Forest Games and Pieces Interactive. Both are developing products that are soon to be announced and released.
In August, during Gamescom, we announced the upcoming title Biomutant. The feedback for the title – from both press and the gaming community – was beyond our expectations. We now expect Biomutant to be one of our future key titles.
During the end of the period, we raised SEK 598.0 m before transaction costs in a new share issue directed to reputable institutional investors. We continue to work intensely to evaluate interesting investment opportunities to strengthen our position and long-term growth. THQ Nordic has a unique position and strategy in the market and we will leverage this over the coming years.
We are now focusing on executing our plan for the final quarter of the year, as well as planning for the year ahead. I have great confidence that 2018 will be our most exciting year so far.
– LARS WINGEFORS, FOUNDER & CEO
THIRD QUARTER 2017
INTERIM PERIOD JANUARY-SEPTEMBER 2017
All comparatives within parentheses refer to the corresponding period of the previous year, unless otherwise stated.
Embracer Group is a parent company of businesses led by entrepreneurs in PC, console, mobile and board games and other related media. The Group has an extensive catalog of over 850 owned or controlled franchises.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its twelve operative groups: THQ Nordic, PLAION, Coffee Stain, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment, Easybrain, Asmodee, Dark Horse, Freemode and Crystal Dynamics - Eidos. The Group has 134 internal game development studios and is engaging more than 16,243 employees and contracted employees in more than 40 countries.