Thunderful Group Annual Report 2021

Key insights

7 takeaways

01
Thunderful Group operates two primary business segments: Games (development, publishing, and investment) and Distribution (Nintendo products, games, and accessories).See it on page 5
02
In 2021, the company generated total net sales of SEK 2,786.8 million, a slight decrease from the SEK 2,891.6 million reported in 2020.See it on page 94
03
The Games segment is a significant driver of profitability, accounting for 44% of the Group's EBITA despite representing only 11% of net sales.See it on page 90
04
Supply chain constraints and semiconductor shortages in 2021 hindered the company's ability to meet high demand for Nintendo Switch consoles, though sales of physical games and accessories saw growth.See it on page 45
05
Thunderful acquired Early Morning Studio AB in November 2021 for an initial purchase price of SEK 80.0 million to expand its portfolio of RPG titles.See it on page 87
06
The company maintains a concentrated customer base, with one major customer accounting for 20.6% of total net sales in 2021.See it on page 111
07
The Group utilizes a warrant-based incentive program for senior executives and board members, with exercise prices set at SEK 38.37 per share for the 2020/2023 program.See it on page 85

Summary

creative entertainment products Thunderful Group was founded in 2019 The operations fulfil an important socie- as a Group with the opportunity to pro- tal function, in which our product and vide creative, high-quality entertainment service range today create conditions for products to people of all ages. creativity and learning, as well as digital We are driven by our vision "To be a communication and entertainment.