Extended Financial Year Report: 1 Jan 2018 – 31 Mar 2019

THQ Nordic experienced a period of aggressive expansion and financial growth between January 2018 and March 2019, culminating in a significant performance surge during the first quarter of 2019. The company’s primary objective during this timeframe was to scale its development capabilities and intellectual property portfolio through strategic acquisitions and heavy investment in its internal pipeline. By the end of March 2019, the organization successfully transitioned into a larger, more diversified entity, supported by a workforce of 1,667 developers and a robust development slate of 80 active titles.

Financial results for the quarter ending March 31, 2019, underscore this rapid scaling, with net sales climbing 158 percent to SEK 1,630.5 million compared to the same period in the previous year. This growth was anchored by the high-performing release of Metro Exodus, which generated SEK 794 million in net sales, alongside meaningful contributions from Coffee Stain’s Satisfactory and various partner publishing ventures. Operational EBIT rose by 217 percent to SEK 395.9 million, reflecting improved operational efficiency alongside the revenue gains.

To sustain this momentum, the company bolstered its financial foundation through a SEK 2.1 billion share issue, resulting in a strong liquidity position of SEK 4.5 billion in cash and credit facilities. Acquisitions of Warhorse Studios and 18POINT2 further solidified the company’s market presence. With total assets reaching SEK 8,608.2 million, the organization remains positioned for continued development, adhering to established BFN K3 accounting standards while maintaining a clear trajectory for future financial disclosures through 2020.