Thunderful Group Interim Report January–September 2022

Changes now yielding results

Third quarter July–September 2022

• Net revenue decreased 4.8% to 703.4 MSEK (738.9).
• Operating profit (EBIT) declined 40.9% to 38.3 MSEK (64.8), corresponding to an operating margin of 4.6% (8.5).
• Adjusted EBITDA decrease 21.2% to 77.4 MSEK (98.3), corresponding to an adjusted EBITDA margin of 9.3% (12.9).
• Adjusted EBITA declined 28.8% to 60.3 MSEK (84.7), corresponding to an adjusted EBITA margin of 7.2% (11.1).
• Profit for the quarter amounted to 11.4 MSEK (48.5).
• Earnings per share after dilution amounted to 0.16 SEK (0.70).
• Cash flow from operating activities amounted to –71.4 MSEK (–86.0).
• Consolidated cash and cash equivalents together with unutilised credit facilities amounted to 222.9 MSEK (257.7).
• Brjann Sigurgeirsson stepped down from his position as CEO.The board of directors appointed Anders Maiqvist as acting CEO. Anders Maiqvist is the company’s former CFO.
• Thunderful entered into an agreement regarding changes and payment of additional earn-out component in relation to the acquisition of Robot Teddy Ltd.
• Thunderful started a dialogue with the Swedish Financial Supervisory Authority concerning information given in relation to the publication of the year-end report for 2020.

Period January–September 2022

• Net revenue increased 0.7% to 1,830.1 MSEK (1,818.2).
• Operating profit (EBIT) declined 57.7% to 52.9 MSEK (125.1), corresponding to an operating margin of 2.6% (6.6).
• Adjusted EBITDA declined 11.7% to 190.4 MSEK (215.6), corresponding to an adjusted EBITDA margin of 9.2% (11.4).
• Adjusted EBITA declined 34.3% to 119.1 MSEK (181.2), corresponding to an adjusted EBITA margin of 5.8% (9.6).
• Loss for the period amounted to –9.2 MSEK (82.1).
• Earnings per share after dilution amounted to –0.13 SEK (1.18).
• Cash flow from operating activities amounted to 91.2 MSEK (–83.5).

Events after the end of the period

• Thunderful entered into an agreement regarding changes of additional earn-out component in relation to the acquisition of Coatsink Software Ltd.
• Thunderful entered into binding agreement regarding the acquisition of Jumpship Ltd November 15 2022.

Thunderful Group invites to a webcast November 15, 2022, 10.00 CET.
The interim report for Q3 2022 is presented and thereafter there is an opportunity to ask questions. Questions can be posed in writing via the webcast. A recorded version of the presentation will also be available on Thunderful Group's website. The presentation will be held in English. The interim report is published at 07.30 CET November 15, 2022.

The presentation will be moderated by Dennis Berggren, analyst at Carnegie Investment Bank.

Attending from Thunderful Group:
Anders Maiqvist, incoming CEO
Lennart Sparud, CFO

To access the audiocast, please click on the link below:
https://ir.financialhearings.com/thunderful-group-q3-2022/register 

This information is of a nature that Thunderful Group AB is obligated to publish under the EU’s Market Abuse Regulation. It was submitted for publication through the agency of the contact persons set out below at 7:30 a.m. CET on 15 November 2022.