Thunderful Group Q2 2024 Presentation

Key insights

6 takeaways

01
Thunderful Group has divested its distribution business to transition into a pure-play game development and publishing company, resulting in a 20% reduction in headcount to 329 employees.See it on page 4
02
Q2 2024 net revenue for the remaining business fell 15% year-over-year to 83 MSEK, with an EBIT loss of 60 MSEK driven by write-downs of capitalized development costs.See it on page 16
03
The restructuring program is expected to deliver annualised cost savings of 90–100 MSEK as the company shifts focus toward its eight internal studios and publishing operations.See it on page 23
04
Available liquidity stands at 255 MSEK, and the company has successfully repaid all bank debt following the divestment of its distribution segment.See it on page 21
05
The company is prioritizing ROI improvement through a new strategy that emphasizes data-driven IP bets, external publishing partnerships, and the exploration of generative AI and cloud gaming.See it on page 7
06
Adjusted EBITDA for Q2 2024 dropped to 4 MSEK from 55 MSEK in the prior-year period, impacted by lower capitalization of development costs and increased royalty expenses.See it on page 16

Summary

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