Regulatory Press release • February 15, 2017 • 08:00

THQ Nordic AB (publ) publishes Year-End Report 2016

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We are continuing to deliver strong sales and profitability growth by executing on our core business model, which explores our well-diversified portfolio of franchises. The main driver in the quarter was continued successful promotions of our broad catalogue of IPs, on digital channels as Steam, PlayStation Network and Xbox Live.

THQ Nordic had a successful IPO on Nasdaq First North Stockholm, attracting high demand from Swedish and international institutions, as well as retail investors. The available offering was 19 times oversubscribed.

We are now looking forward to the second half of 2017, when we will release our first major sequels of our own IPs, plus some major publishing releases.


Fourth quarter 2016

  •  Net sales increased by 30% (38) to SEK 128.2 m (98.4).
  •  Owned titles represented SEK 94.0 m (83.0), or 73% (84), of net sales in the quarter.
  •  EBITDA was SEK 60.8 m (52.3), corresponding to an EBITDA margin of 47% (53).
  •  EBIT was SEK 50.6 m (35.2), corresponding to an EBIT margin of 39% (36).
  •  Cash flow from operating activities amounted to SEK 51.3 m (63.3).
  •  Earnings per share (diluted) were SEK 0.59 (0.46).
  •  Four Acquisitions of IP- and Franchises were finalized in the fourth quarter, including “This is the Police”, “Sphinx and the Cursed Mummy”, “Delta Force”, “Commanche” and many others.
  •  Two owned titles and two publishing titles were released in the period.

Full year January – December 2016

  •  Net sales increased by 42% (20) to SEK 301.9 m (212.9).
  •  Owned titles represented SEK 214.0 m (162.0), or 71% (76), of net sales in the period.
  •  EBITDA was SEK 132.4 m (105.1), corresponding to an EBITDA margin of 44% (49).
  •  EBIT was SEK 95.0 m (66.6), corresponding to an EBIT margin of 31% (31).
  •  Cash flow from operating activities amounted to SEK 99.2 m (109.9).
  •  Earnings per share (diluted) were SEK 1.18 (0.85).
  •  As of 31 December 2016, cash and cash equivalents were SEK 167.4 m (25.6). The Company also had unutilized credit facilities of SEK 71.2 m (–).
  •  The Board proposes no dividend for the financial year 2016.

Throughout the Report, all comparatives within parentheses refer to the corresponding period of the previous year, unless otherwise stated.

KEY PERFORMANCE INDICATORS, SEK m GROUPMSEK  Oct-Dec 2016  Oct-Dec 2015  Jan-Dec 2016  Jan-Dec 2015 
Net sales 128.2  98.4  301.9  212.9 
EBITDA  60.8  52.3  132.4  105.1 
Under lying EBIT  50.6  35.2  95.0  66.6 
Profit after tax  38.0 27.6  71.9  51.2 
Earnings per share, SEK  0.59  0.46  1.18  0.85 
Cashflow from operating activities  51.3  63.3  99.2  109.9 
Sales growth, %  30  38  42  20 
EBITDA margin, %  47  53  44  49 
Underlying EBIT margin, %  39  36  31  31 
Net sales split: 
– Owned titles, %  73  84  71  76 
– Publishing titles, %  27  14  29  22 
– Other, % 2 2

For additional information, please contact:
Lars Wingefors, Group CEO
Tel: +46 708 471 978

About THQ Nordic
THQ Nordic acquires, develops and publishes PC and console games. The core business model consists of acquiring established franchises and successively refining them. The portfolio includes more than 75 franchises such as Darksiders, Titan Quest, MX vs ATV, Red Faction, Destroy All Humans, Aquanox, deBlob, Imperium Galactica, Desperados, Impossible Creatures, Jagged Alliance, Spellforce, The Guild and This is the Police.

Since its foundation 2011, the Company has created a global presence, with its Group head office in Karlstad, Sweden and its operational head office in Vienna, Austria. THQ Nordics engage more than 370 people and has 4 inhouse development studios based in Germany, USA and Sweden. THQ Nordic shares are listed on Nasdaq Stockholm First North under the ticker THQN B. For more information, please visit or

FNCA Sweden AB is THQ Nordic’s Certified Adviser.

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 08.00 CET on February 15, 2017.


Arman Teimouri Head of External Relations +46 54 53 56 50
Oscar Erixon Head of Investor Relations +46 730 24 91 42


Embracer Group is a global group of creative and entrepreneurial businesses in PC/console, mobile and board games and other related media. The Group has an extensive catalog of over 900 owned or controlled franchises.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its ten operative groups: THQ Nordic, PLAION, Coffee Stain, Amplifier Game Invest, DECA Games, Easybrain, Asmodee Group, Dark Horse Media, Freemode and Crystal Dynamics – Eidos. The Group has 106 internal game development studios and is engaging more than 11,000 employees in more than 40 countries.