Challenges in Games but positive results in Distribution
Fourth quarter October–December 2023
- Net revenue decreased 18.4 percent to 953.2 MSEK (1,168.1*).
- Operating profit (EBIT) decreased 574.0 percent to –678.3 MSEK (143.1), corresponding to an operating margin of –71.2 percent (12.3). Write-down of goodwill amounted to 500 MSEK and capitalized development cost to 98 MSEK.
- Adjusted EBITDA decreased 98.4 percent to 2.9 MSEK (185.2), corresponding to an adjusted EBITDA margin of 0.3 percent (15.9).
- Adjusted EBITA decreased 186.8 percent to –143.8 MSEK (165.7), corresponding to an adjusted EBITA margin of –15.1 percent (14.2).
- Profit for the quarter amounted to –587.1 MSEK (130.4).
- Earnings per share after dilution amounted to –8.35 SEK (1.86).
- Cash flow from operating activities amounted to 304.2 MSEK (406.3).
- Consolidated cash and cash equivalents together with unutilized credit facilities amounted to 320.1 MSEK (493.7) as of
31 December 2023 . Henrik Lundkvist assumed his role as CFO forThunderful Group effective1 December 2023 , succeededAnnette Colin , interim CFO.
Full year January–December 2023
- Net revenue decreased 4.6 percent to 2,818.2 MSEK (2,953.3*).
- Operating profit (EBIT) decreased 410.8 percent to –609.3 MSEK (196.1), corresponding to an operating margin of –21.6 percent (6.6). Write-down of goodwill amounted to 500 MSEK and capitalized development cost to 98 MSEK.
- Adjusted EBITDA decreased 35.6 percent to 241.9 MSEK (375.6), corresponding to an adjusted EBITDA margin of 8.6 percent (12.7).
- Adjusted EBITA decreased 97.3 percent to 7.7 MSEK (284.8), corresponding to an
adjusted EBITA margin of 0.3 percent (9.6). - Profit for the period amounted to –609.4 MSEK (121.2).
- Earnings per share after dilution amounted to –8.67 SEK (1.72).
- Cash flow from operating activities amounted to 315.4 MSEK (527.4).
* Income related to marketing activities has been reclassed from net revenue to other income in the prior periods.
Events after the end of the quarter
Telephone conference
Link to webcast:
https://ir.financialhearings.com/thunderful-group-q4-report-2023
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