Aankondiging • Dec 22
Atari Moves to Take Full Control of Thunderful and Pursue Delisting Atari on December 19, 2025 announced plans to acquire a further 18% stake in Swedish digital games publisher Thunderful Group AB through a directed share issue, increasing its ownership to 90.2% pending shareholder approval. The SEK 35 million share issuance, subject to approval at an Extraordinary General Meeting on 26 January 2026, involves 350 million new shares priced at SEK 0.10 per share, a 46% discount to the 18 December 2025 closing price. Upon completion, Atari will seek to delist Thunderful from Nasdaq First North Growth Market in Stockholm. This transaction follows Atari's initial investment in August 2025 and supports its multi-year transformation strategy. After delisting of Thunderful's shares, Atari will launch an offer to acquire all remaining shares at SEK0.30 per share, representing a 61% premium to the 18 December 2025 closing price and a 100% premium to the August 2025 directed share issue price. Atari will also initiate a compulsory redemption procedure under the Swedish Companies Act to reach full ownership. The redemption price will match the offer price of SEK 0.30 per share. The transaction will be financed using Atari's own resources or a potential new loan from IRATA LLC, the holding company of Atari chairman and CEO Wade Rosen. Aankondiging • May 28
Thunderful Group AB Appoints Brjann Sigurgeirsson as Ordinary Board Members Thunderful Group AB at its AGM held on 27 May 2025 appointed Brjann Sigurgeirsson as ordinary board members. Aankondiging • Apr 30
Thunderful Group AB to Report Fiscal Year 2025 Results on Feb 18, 2026 Thunderful Group AB announced that they will report fiscal year 2025 results on Feb 18, 2026 Aankondiging • Apr 26
Thunderful Group AB, Annual General Meeting, May 27, 2025 Thunderful Group AB, Annual General Meeting, May 27, 2025, at 14:00 W. Europe Standard Time. Location: at setterwalls law firm in gothenburg, sankt eriksgatan 5, 411 05 gothenburg Sweden Aankondiging • Apr 24
Thunderful Group AB Announces Resignation of Adolf Kristjansson as Board Member Thunderful Group AB announced that board member Adolf Kristjansson, at his own request and due to other commitments, has decided to resign from the board of Thunderful. Aankondiging • Feb 11
Dino Patti completed the acquisition of Jumpship Limited from Thunderful Group AB (OM:THUNDR). Dino Patti agreed to acquire Jumpship Limited from Thunderful Group AB (OM:THUNDR) on January 15, 2025. Furthermore, the Company shall, in connection with the transfer of ownership of the shares to the Buyer, waive all loans it has provided to Jumpship Limited. As of December 19, 2024, these loans amounted to £1.3545 million.
The transfer of the shares in Jumpship Limited to the Buyer was conditional upon the shareholders' approval at the general meeting with the required majority. As of February 10, 2025, The deal has been approved by shareholders of Jumpship Limited.
Dino Patti completed the acquisition of Jumpship Limited from Thunderful Group AB (OM:THUNDR) on February 10, 2025. Reported Earnings • Nov 15
Third quarter 2024 earnings released: kr0.25 loss per share (vs kr0.35 profit in 3Q 2023) Third quarter 2024 results: kr0.25 loss per share (down from kr0.35 profit in 3Q 2023). Revenue: kr74.8m (down 88% from 3Q 2023). Net loss: kr17.7m (down 172% from profit in 3Q 2023). Revenue is expected to decline by 68% p.a. on average during the next 3 years, while revenues in the Electronic industry in Germany are expected to grow by 9.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. New Risk • Oct 27
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr757m Forecast net loss in 2 years: kr4.5m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (€7.11m market cap, or US$7.67m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr4.5m net loss in 2 years). New Risk • Aug 23
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr757m Forecast net loss in 2 years: kr4.3m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr4.3m net loss in 2 years). Market cap is less than US$100m (€9.30m market cap, or US$10.3m). Reported Earnings • Aug 22
Second quarter 2024 earnings released: kr0.57 loss per share (vs kr0.86 loss in 2Q 2023) Second quarter 2024 results: kr0.57 loss per share (improved from kr0.86 loss in 2Q 2023). Revenue: kr111.5m (down 83% from 2Q 2023). Net loss: kr40.4m (loss narrowed 33% from 2Q 2023). Revenue is expected to decline by 55% p.a. on average during the next 3 years, while revenues in the Electronic industry in Germany are expected to grow by 11%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 22
Thunderful Group AB (publ) Announces Executive Changes Thunderful Group AB (publ) announced the appointment of Jennie Wilund as Executive Vice President of Operations. Jennie is well acquainted with the group after having worked closely with the executive management team as a consultant. In her new permanent role, she will help with overseeing the effective operation of all group-level functions, executive initiatives, and long-term business planning. Jennie Wilund's experience in the gaming industry is vast, ranging from mobile games to AAA titles, and includes working in executive positions at renowned companies such as Toca Boca, Avalanche Studios and Glorious Games Group (formerly Stardoll). In addition to Jennie Wilund joining the group, as part of Thunderful's ambition to strengthen its publishing operations, Kathrin Strangfeld, who has held several executive positions at Thunderful, moves into the role of EVP of Publishing. She is joined by Johan Mannerhill and Thomas Luecking who have held senior management roles within Thunderful and now both take on roles as VPs of Product Management. The purpose of these organisational changes is to establish a stronger foundation for Thunderful's publishing department, with a focus on raising the bar for all products in terms of critical acclaim, commercial success, and operational excellence. Aankondiging • Jun 27
Thunderful Group AB Announces Board Appointments Thunderful Group AB announced the appointment of Magdalena Rodell Andersson and Adolf Kristjansson as ordinary board members. Aankondiging • May 23
Bergsala NDP AB agreed to acquire Amo Toys AB and Bergsala Aktiebolag and Thunderful Solutions AB and Thunderful 1 AB from Thunderful Group AB (OM:THUNDR) for approximately SEK 630 million. Bergsala NDP AB agreed to acquire Amo Toys AB and Bergsala Aktiebolag and Thunderful Solutions AB and Thunderful 1 AB from Thunderful Group AB (OM:THUNDR) for approximately SEK 630 million on May 21, 2024. As part of the consideration, SEK 595 million will be paid in cash at closing and the remaining SEK 39 million will be payable in cash on June 30, 2025. Following purchase price adjustments related to core net working capital and transaction costs, the expected net cash proceeds including the deferred payment are estimated to amount to approximately SEK 610 million. Owe Bergsten, through Bergsala Holding AB, will enter into a customary lock-up undertaking restricting the ability to make certain dispositions in respect of Bergsala Holding AB’s shares in Thunderful Group during a period of 360 days from the completion of the transaction. In connection with the transaction, Thunderful Group will fully amortise its existing revolving credit facility of €55 million with Danske Bank. As part of the transaction, Thunderful will obtain a new MEUR 10.5 undrawn revolving credit facility from Danske Bank, with final maturity in June 2025.
Closing of the transaction is conditional on the approval of shareholders of Thunderful Group at a general meeting with at least nine-tenths of both the votes cast and the shares represented at the meeting, the subsidiaries receive necessary waivers from certain partners, the buyer receiving necessary financing for the purpose of paying the agreed purchase price, Thunderful Group obtaining €10.5 million undrawn revolving credit facility from Danske Bank and other customary conditions. Closing of the transaction will take place as soon as the conditions for the transaction are fulfilled and is expected to occur on June 28, 2024. ABG Sundal Collier AB acted as financial advisor, Setterwalls Advokatbyrå Ab acted as legal advisor, PricewaterhouseCoopers Sweden acted as accountant to Thunderful Group AB (OM:THUNDR) and Bdo Syd Ab acted as fairness opinion provider to the Board of Directors of Thunderful Group. Reported Earnings • May 16
First quarter 2024 earnings released: kr3.36 loss per share (vs kr0.19 profit in 1Q 2023) First quarter 2024 results: kr3.36 loss per share (down from kr0.19 profit in 1Q 2023). Revenue: kr455.9m (down 23% from 1Q 2023). Net loss: kr236.2m (down kr249.7m from profit in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 33 percentage points per year, which is a significant difference in performance. Aankondiging • Apr 27
Handelsselskabet af 15 Marts 2024 A/S entered into an agreement to acquire Nordic Game Supply A/S from Thunderful Group AB (OM:THUNDR) for SEK 76 million. Handelsselskabet af 15 Marts 2024 A/S entered into an agreement to acquire Nordic Game Supply A/S from Thunderful Group AB (OM:THUNDR) for SEK 76 million on April 26, 2024. Under the terms of agreement, The purchase price payable by the Purchaser upon completion of the Transaction will be determined based on the book value of the inventory recorded as of the banking day prior to the date the transaction is completed ("Effective Time") adjusted for an effective discount of 28%. At the time of signing the Transaction, the book value of the registered inventory is SEK 106 million, which means a preliminary purchase price of SEK 76 million. In addition, the Buyer will pay 100% of the order value for orders that are in transit (i.e., items not delivered to the specified storage facility at the time of the Effective Time). The buyer will take over Nordic Game Supply's business relationships with customers and suppliers of Nordic Game Supply. The buyer will take over the relevant trademarks and IP rights associated with Nordic Game Supply. The buyer takes over personnel from Nordic Game Supply. After completion of the Transaction, it is the intention that Nordic Game Supply will cease its operations as soon as possible. As part of the evaluation, the Company has been in dialogue with a handful of potential buyers. The terms of the Transaction with the Buyer have been deemed to represent the best option for Thunderful Group and its shareholders.The transaction is subject to approval by the shareholders of Thunderful Group at a general meeting which will be called separately from this press release. There are no other conditions for completing the Transaction. Completion of the Transaction will take place as soon as possible after approval by the general meeting. The Transaction will have a positive impact on the Company's operating cash flows immediately following the completion of the Transaction. The transaction proceeds will result in reduced net debt for the Company. As the purchase price will be based on the book value of the inventory after an agreed discount, the Company assesses that the Transaction will have a negative impact on the Company's EBIT of approximately 34 MSEK for the second quarter of 2024.The Board of Directors of Thunderful Group has appointed BDO Deal Advisory as an independent thirdparty advisor, who have arm's length evaluated the transaction. ABG Sundal Collier acts as financial advisor to Thunderful Group in connection with the Transaction. Gorrissen Federspiel and Setterwalls are acting as legal advisors to Thunderful Group in connection with the Transaction. Aankondiging • Apr 05
Thunderful Group Appoints Per Alnefelt as Interim CFO, Effective from April 8, 2024 Thunderful Group has appointed Per Alnefelt as interim CFO. Per succeeds Henrik Lundkvist who, as previously communicated, has resigned from the position as CFO. Per will assume his new position from April 8 and Henrik Lundkvist will be available for handover during a transition period. Per brings more than 30 years' experience and has a long career in executive management positions in Swedish listed companies as well as in global international companies. Per has among others held CFO positions at Tobin Properties AB (publ), Fujitsu Siemens Computers Nordic Region and Letsbuyit.com (publ). Aankondiging • Apr 03
Thunderful Group AB Announces Resignation of Henrik Lundkvist as Chief Financial Officer, Until July 3, 2024, at the Latest Thunderful Group AB announced that Henrik Lundkvist, at his request, has chosen to end his employment as Chief Financial Officer (CFO) for new opportunities outside the company. The recruitment process for a new CFO will begin immediately and Henrik Lundkvist will remain as the company's CFO until July 3, 2024, at the latest. Reported Earnings • Feb 23
Full year 2023 earnings released: kr8.67 loss per share (vs kr1.73 profit in FY 2022) Full year 2023 results: kr8.67 loss per share (down from kr1.73 profit in FY 2022). Revenue: kr3.15b (flat on FY 2022). Net loss: kr609.4m (down kr730.6m from profit in FY 2022). Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Electronic industry in Germany are expected to grow by 9.9%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 10 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 15
Thunderful Group AB Provides Earnings Guidance for the Fourth Quarter of the Year 2023 Thunderful Group AB provided earnings guidance for the fourth quarter of the year 2023. For the year, the company expects that the consolidated revenues will amount to approximately SEK 953 Million and LBIT in the fourth quarter of 2023 to be approximately SEK 678 Million. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: kr0.35 (vs kr0.16 in 3Q 2022) Third quarter 2023 results: EPS: kr0.35 (up from kr0.16 in 3Q 2022). Revenue: kr717.7m (flat on 3Q 2022). Net income: kr24.7m (up 117% from 3Q 2022). Profit margin: 3.4% (up from 1.6% in 3Q 2022). Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Electronic industry in Germany are expected to grow by 11%. Aankondiging • Oct 24
Thunderful Group AB Appoints Henrik Lundkvist as Chief Financial Officer Thunderful Group AB announced that the company has appointed Henrik Lundkvist as Chief Financial Officer (CFO). Henrik has extensive experience from executive positions, including being CFO for the publicly listed company Probi AB. Thunderful Group's interim CFO, Annette Colin, will remain with the company for a period to ensure a smooth transition. Henrik Lundkvist has a strong background in finance with many years of experience from building and leading finance organizations within various companies and business sectors. He began his career as an auditor at EY, subsequently held leading positions at E.ON and worked as CFO for GCE, one of Europe's leading companies in gas equipment. Since 2019, Henrik has held the role of CFO for the biotech company Probi AB, which he is now leaving to join Thunderful Group. Henrik Lundkvist will assume the role of CFO no later than January 1, 2024. Aankondiging • Aug 29
Thunderful Group AB Appoints Annette Colin as Interim CFO Thunderful Group AB has appointed Annette Colin as interim CFO. Annette succeeds Lennart Sparud who, as previously communicated, has resigned from the position as CFO. Annette will assume her new position from and Lennart Sparud will continue to work alongside her to complete the handover during a transition period. Annette brings more than 30 years' experience and has a long career in executive management positions in global international companies. Annette has among others held CFO positions at Boule Diagnostics AB (publ), Biotage AB (publ), Stille AB (publ) and Observe Medical International (publ). The search for a permanent CFO for Thunderful Group continues. Aankondiging • Aug 25
Thunderful Group Announces Release Date for Several Game Releases Including SteamWorld Build Thunderful Group has announced that the game SteamWorld Build will launch on PC, Xbox, PlayStation and Nintendo Switch on December 1, 2023. The game will also be available from day one on Xbox Game Pass. Thunderful has also announced release dates for three more games in 2023 at Gamescom. During Gamescom, Thunderful has announced the release dates for four games, including which will be released on December 1, 2023 for PC, Xbox, Sony and Nintendo SteamWorld Build Switch. The game will also be Available on Xbox Game Pass from the same day. SteamWorld Build is the latest addition to the award-winning, multi-million selling SteamWorld franchise. The game, in which build and manage a western mining town populated by steam-driven robots, is developed by the internal studio The Station, based in Karlsham, Sweden. Thunderful-owned game development studio Coatsink's platform adventure has been Astronimo announced for release on Steam Early Access on September 27, 2023. is also developed Islanders VR by Coatsink and the game will be released on Oculus Quest 2 and Quest Pro on September 28, 2023. Finally, from Thunderful's pipeline of externally developed games will launch on October 4, Wordless. 2023 on PC, Xbox, PlayStation, PlayStation and Nintendo Switch. Aankondiging • Aug 22
Lennart Sparud Announces to End His Employment as CFO of Thunderful Group AB Thunderful Group AB announced that Lennart Sparud has chosen to end his employment as CFO for new challenges outside the company. The recruitment process for a new CFO began immediately. Reported Earnings • Aug 22
Second quarter 2023 earnings released: kr0.86 loss per share (vs kr0.31 loss in 2Q 2022) Second quarter 2023 results: kr0.86 loss per share (further deteriorated from kr0.31 loss in 2Q 2022). Revenue: kr776.5m (up 28% from 2Q 2022). Net loss: kr60.4m (loss widened 177% from 2Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. New Risk • Aug 14
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Aankondiging • Jul 25
Thunderful Group AB Appoints Martin Walfisz as CEO Thunderful Group AB announced that Martin Walfisz assumes his role as CEO. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 18x in the Electronic industry in Germany. Total loss to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.77 per share. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.38, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 18x in the Electronic industry in Germany. Total loss to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.74 per share. Aankondiging • Jul 01
Thunderful Group AB Announces Resignation of Lennart Sparud as Chief Financial Officer Thunderful Group AB announced that Lennart Sparud, at his own request, has chosen to end his employment as Chief Financial Officer for new challenges outside the company. The recruitment process for a new CFO will begin immediately and Lennart Sparud will remain as the company's CFO until December 30 2023 at the latest. Board Change • Jun 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • May 30
Thunderful Group AB Announces CEO Changes Thunderful Group AB announced that the Board of Directors decided to appoint Martin Walfisz as new CEO. Martin is currently Board Member in Thunderful and will begin his duties as the new CEO no later than 1 September 2023. He succeeds Anders Maiqvist, Acting CEO since 10 August 2022. Martin is an experienced games industry entrepreneur, executive and advisor of leading companies in the Nordic and European games industry. Martin founded his first game company, Massive Entertainment, and grew it from zero to 150 people during his twelve years at the helm. It is one of Europe's premier development studios and when Ubisoft acquired the studio in 2008, Martin decided to leave to focus on other commitments. In 2016 Martin joined Nordisk Film to establish a new M&A division, Nordisk Games, focusing on investing in game companies across Europe. During his time as Senior Partner and Chief Strategy Officer, he provided strategic support to the executive leadership teams of the group companies, such as Avalanche Studios Group (SE), Supermassive Games (UK), Star Stable (SE), MercurySteam (ES) and Raw Fury (SE). Martin also established Nordisk Games' central support services team, actively helping the studios improve their production and publishing operations. Valuation Update With 7 Day Price Move • May 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €1.34, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Electronic industry in Germany. Total loss to shareholders of 31% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.48 per share. Aankondiging • May 18
Thunderful Group AB Announces Executive Changes Thunderful Group AB at its annual general meeting held on May 17, 2023 approved election of Martin Walfisz, Sara Bach and Patrick Svensk as ordinary Board members. Patrick Svensk was elected as chairman of the Board. Reported Earnings • May 16
First quarter 2023 earnings released: EPS: kr0.19 (vs kr0.016 in 1Q 2022) First quarter 2023 results: EPS: kr0.19 (up from kr0.016 in 1Q 2022). Revenue: kr611.2m (up 6.9% from 1Q 2022). Net income: kr13.5m (up kr12.4m from 1Q 2022). Profit margin: 2.2% (up from 0.2% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. Board Change • May 11
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: kr1.73 (vs kr1.91 in FY 2021) Full year 2022 results: EPS: kr1.73 (down from kr1.91 in FY 2021). Revenue: kr3.13b (down 2.1% from FY 2021). Net income: kr121.2m (down 8.3% from FY 2021). Profit margin: 3.9% (down from 4.1% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Germany. Board Change • Apr 21
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 19x in the Electronic industry in Germany. Total loss to shareholders of 55% over the past year. Board Change • Feb 23
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Feb 15
Thunderful Group AB to Report Fiscal Year 2022 Results on Feb 22, 2023 Thunderful Group AB announced that they will report fiscal year 2022 results at 7:30 AM, Central European Standard Time on Feb 22, 2023 Aankondiging • Feb 02
Thunderful Group AB Presents New SteamWorld Game in Addition to Already Strong Lineup Thunderful Group AB has presented SteamWorld Build, a new game in the acclaimed SteamWorld series to be released in 2023. The game is destined for all consoles as well as PC and joins a lineup of high-profile games already announced. Thunderful announced SteamWorld Build, the latest addition to the award-winning, multi-million selling SteamWorld franchise, in a digital event published Monday January 23. The game, in which build and manage a western mining town populated by steam-driven robots, is developed by the internal studio The Station, based in Karlshamn, Sweden. Thunderful will release SteamWorld Build on PC and all consoles later this year. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: kr0.16 (vs kr0.70 in 3Q 2021) Third quarter 2022 results: EPS: kr0.16 (down from kr0.70 in 3Q 2021). Revenue: kr724.1m (down 3.7% from 3Q 2021). Net income: kr11.4m (down 77% from 3Q 2021). Profit margin: 1.6% (down from 6.5% in 3Q 2021). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Board Change • Nov 18
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Nov 16
Thunderful Group AB (OM:THUNDR) entered into an agreement to acquire Jumpship Limited from e Chris Olsen, Dino Patti and others. Thunderful Group AB (OM:THUNDR) entered into an agreement to acquire Jumpship Limited from e Chris Olsen, Dino Patti and others on November 15, 2022. Thunderful is paying an initial consideration of £6 million on a cash- and debt-free basis. In addition to this initial consideration, an additional earn-out component of up to £24 million for the period November 2022 to December 2027 may be payable to the sellers. The sellers may receive a maximum of 50% of EBIT per financial year until an accumulated EBIT of £12 has been reached. For EBIT in excess of £12 million and up to £24 million, an amount of 75% of EBIT per financial year will be paid. Thunderful will also make sure that existing shareholder loans totaling £2 million are repaid to the relevant shareholders. Ernst & Young has acted as financial adviser and Setterwalls Advokatbyrå and Muckle LLP as legal advisers in connection with the transaction Aankondiging • Nov 01
Thunderful Group AB Announces Nomination Committee Appointments Thunderful Group AB announces that the Nomination Committee for the 2023 Annual General Meeting has been appointed. In According to current instructions and rules of procedure, resolutions of the Annual General Meeting on 27 April 2022, Thunderful Group's Nomination Committee shall consist of the Chairman of the Board of Directors and three members appointed by the three largest shareholders as of the last September. After consultation with the company's, as of 30 September 2022, largest shareholders in terms of votes the Nomination Committee consists of the following members: Anders Holmgren (Setterwalls Law Firm), representing Bergsala Holding; Celia Grip, representing Swedbank Robur; Klaus Lyngeled, representing himself; Mats Lönnqvist, Chairman of the Board of Directors. Anders Holmgren has been appointed Chairman of the Nomination Committee. Aankondiging • Oct 31
Thunderful Group AB, Annual General Meeting, May 17, 2023 Thunderful Group AB, Annual General Meeting, May 17, 2023. Reported Earnings • Aug 11
Second quarter 2022 earnings released: kr0.31 loss per share (vs kr0.30 profit in 2Q 2021) Second quarter 2022 results: kr0.31 loss per share (down from kr0.30 profit in 2Q 2021). Revenue: kr618.7m (up 12% from 2Q 2021). Net loss: kr21.8m (down 207% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 2.2% compared to a 21% growth forecast for the industry in Germany. Aankondiging • Aug 10
Thunderful Group AB Announces Change of CEO, Effective August 10, 2022 Thunderful Group AB announced that Brjann Sigurgeirsson as of August 10 leaves the role as CEO, which he assumed when the group was formed in 2019. Thunderful's previous CFO Anders Maiqvist steps in as interim CEO until a permanent successor takes office. The recruitment process to find a new permanent CEO who will lead the company on its continued growth journey has been initiated. Brjann Sigurgeirsson remains in Thunderful and will assume a new role within the Games segment. Chairman of the Board Mats Lönnqvist is confident about the future. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €1.86, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 20x in the Electronic industry in Germany. Total loss to shareholders of 70% over the past year. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 17% share price gain to €2.28, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 21x in the Electronic industry in Germany. Total loss to shareholders of 65% over the past year. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: kr0.016 (vs kr0.19 in 1Q 2021) First quarter 2022 results: EPS: kr0.016 (down from kr0.19 in 1Q 2021). Revenue: kr609.6m (up 11% from 1Q 2021). Net income: kr1.10m (down 92% from 1Q 2021). Profit margin: 0.2% (down from 2.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 19% growth forecast for the industry in Germany. Aankondiging • May 18
Thunderful Group AB Announces CFO Changes Thunderful Group AB announced that Lennart Sparud takes office as new Chief Financial Officer (CFO) in the company May 23. Sparud has served for many years as CFO at Hexatronic Group. He thereby succeeds Anders Maiqvist, who going forward will focus on the company's M&A processes. Lennart Sparud is an experienced listed-company CFO, who among others has been highly involved in the work of taking Hexatronic Group from First North to the Nasdaq Mid Cap list. Board Change • May 06
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Owe Bergsten is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Apr 08
Full year 2021 earnings released: EPS: kr1.91 (vs kr2.64 in FY 2020) Full year 2021 results: EPS: kr1.91 (down from kr2.64 in FY 2020). Revenue: kr3.20b (up 4.2% from FY 2020). Net income: kr132.2m (down 3.8% from FY 2020). Profit margin: 4.1% (down from 4.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.0%, compared to a 28% growth forecast for the industry in Germany. Recent Insider Transactions • Feb 23
Chairman of the Board recently bought €77k worth of stock On the 21st of February, Mats Lonnqvist bought around 20k shares on-market at roughly €3.86 per share. This was the largest purchase by an insider in the last 3 months. This was Mats' only on-market trade for the last 12 months. Reported Earnings • Feb 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr1.91 (down from kr2.59 in FY 2020). Revenue: kr3.27b (up 6.7% from FY 2020). Net income: kr132.2m (down 2.1% from FY 2020). Profit margin: 4.0% (down from 4.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Over the next year, revenue is forecast to stay flat compared to a 23% growth forecast for the industry in Germany. Aankondiging • Feb 15
Thunderful Announces That the Gunk Will Be Released on Steam and Other Pc Platforms in Spring 2022 Thunderful announced that The Gunk will be released on Steam and other PC platforms in Spring 2022. The release will include the new photo mode and the additional languages that will be added to the Xbox version of the game. Players who can't wait to get hold of The Gunk on these new PC platforms this Spring and start capturing stunning shots with its new photo mode can begin exploring its intriguing alien world now on Xbox Game Pass or via the Xbox Games Store. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €4.44, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Electronic industry in Germany. Total loss to shareholders of 43% over the past year. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS kr0.70 (vs kr3.35 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr762.0m (down 1.7% from 3Q 2020). Net income: kr48.5m (down 14% from 3Q 2020). Profit margin: 6.4% (down from 7.3% in 3Q 2020). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS kr0.30 (vs kr3.35 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr556.8m (down 28% from 2Q 2020). Net income: kr20.4m (down 64% from 2Q 2020). Profit margin: 3.7% (down from 7.3% in 2Q 2020). The decrease in margin was driven by lower revenue. Aankondiging • Jun 16
Thunderful Group Announces New Games At the end of last week Thunderful Publishing announced the game Planet of Lana. The announcement had millions of viewers, and received great spread and very positive comments in gaming media. This weekend, Coatsink's upcoming game REPLACED was also announced during E3, became one of the weekend's most noticed games. Planet of Lana is a cinematic puzzle adventure, framed by an epic sci-fi saga, developed by Gothenburg-based Wishfully Studios. Fans and the press praised the game for its distinctive visual style, and for game mechanics that bring together several modern classics. In the process, Thunderful registered an exceptionally high number of wish list entries. Meanwhile, leading gaming media selected Thunderful subsidiary Coatsink's game REPLACED as one of the weekend's most impressive game. REPLACED was hailed for a distinctive combination of 2D and 3D, a captivating retro-futuristic story and spectacular battle scenes. Both Planet of Lana and REPLACED will be released in 2022. Reported Earnings • May 19
First quarter 2021 earnings released: EPS kr0.19 (vs kr0.22 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and profit margins, although earnings were improved. First quarter 2021 results: Revenue: kr568.3m (down 158% from 1Q 2020). Net income: kr13.2m (up kr56.8m from 1Q 2020). Profit margin: 2.3% (down from 4.5% in 1Q 2020). The decrease in margin was driven by lower expenses. Reported Earnings • Apr 09
Full year 2020 earnings released: EPS kr2.59 (vs kr0.48 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: kr3.07b (up kr2.95b from FY 2019). Net income: kr135.0m (up 460% from FY 2019). Profit margin: 4.4% (down from 21% in FY 2019). The decrease in margin was driven by higher expenses. Aankondiging • Mar 17
Thunderful Group AB (OM:THUNDR) completed the acquisition of Headup Gmbh. Thunderful Group AB (OM:THUNDR) agreed to acquire Headup Gmbh for €11 million on February 24, 2021. As per terms, Thunderful will pay €5 million in cash upfront. In addition, Thunderful will pay an earn-out component subject to Headup's performance in 2021, 2022 and 2023. The earn-out consideration is capped at €6 million and consists of €2.5 million in newly issued Thunderful shares with a clawback mechanism as well as future payments of €3.5 million in a mix of cash and shares. The total maximum consideration of the acquisition is thus €11 million. Headup Gmbh has revenue of €4.2 million in 2020. The transaction is expected to be closed on or before March 31, 2021. Setterwalls Advokatbyrå AB, Field Fisher Waterhouse Deutschland LLP acted as legal advisors, Ernst & Young AB acted as financial advisor and ax due diligence advisor to Thunderful Group AB. Nicolas Gabrysch and consisted of Konstantin Ewald, Alexandra Nautsch, Jens Wrede and Sonja Riedemann of Osborne Clarke LLP acted as legal advisor to Headup GmbH.
Thunderful Group AB (OM:THUNDR) completed the acquisition of Headup Gmbh on March 15, 2021. Aankondiging • Feb 26
Thunderful Group AB (OM:THUNDR) agreed to acquire Headup Gmbh for €11 million. Thunderful Group AB (OM:THUNDR) agreed to acquire Headup Gmbh for €11 million on February 24, 2021. As per terms, Thunderful will pay €5 million in cash upfront. In addition, Thunderful will pay an earn-out component subject to Headup's performance in 2021, 2022 and 2023. The earn-out consideration is capped at €6 million and consists of €2.5 million in newly issued Thunderful shares with a clawback mechanism as well as future payments of €3.5 million in a mix of cash and shares. The total maximum consideration of the acquisition is thus €11 million. Headup Gmbh has revenue of €4.2 million in 2020. The transaction is expected to be closed on or before March 31, 2021. Setterwalls Advokatbyrå AB, Field Fisher Waterhouse Deutschland LLP acted as legal advisors, Ernst & Young AB acted as financial advisor and ax due diligence advisor to Thunderful Group AB. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 8.6%. Over the next year, revenue is expected to shrink by 6.2% compared to a 17% growth forecast for the Electronic industry in Germany. Aankondiging • Feb 23
Thunderful Group AB to Report Fiscal Year 2020 Results on Feb 24, 2021 Thunderful Group AB announced that they will report fiscal year 2020 results at 7:30 AM, Central European Standard Time on Feb 24, 2021 Aankondiging • Jan 12
Thunderful Group AB Announces Nomination Committee for the AGM 2021 Thunderful Group AB announced nomination committee for the AGM 2021. Following are the members: Anders Holmgren (Setterwalls Law Firm), representing Bergsala Holding, Pia Gisgård, representing Swedbank Robur, Brjann Sigurgeirsson, representing Brjann Sigurgeirsson Holding and Mats Lönnqvist, Chairman of the Board of Directors. Anders Holmgren has been appointed Chairman of the Nomination Committee. Aankondiging • Jan 11
Thunderful Group AB, Annual General Meeting, Apr 27, 2021 Thunderful Group AB, Annual General Meeting, Apr 27, 2021. Agenda: To consider the executive changes.