EBIT INCREASED BY 50%
We continue to capitalize on our asset care strategy. During the quarter, we had higher sales of owned titles and increasing digital sales. Net sales increased by 8.8% to SEK 84.7 m, EBITDA was up 36% to SEK 34.6 m and EBIT increased by 50% to SEK 24.0 m compared to the same period last year.
During the quarter we acquired and welcomed two new development studios to the THQ Nordic family; Black Forest Games and Pieces Interactive. Both are developing products that are soon to be announced and released.
In August, during Gamescom, we announced the upcoming title Biomutant. The feedback for the title - from both press and the gaming community - was beyond our expectations. We now expect Biomutant to be one of our future key titles.
During the end of the period, we raised SEK 598.0 m before transaction costs in a new share issue directed to reputable institutional investors. We continue to work intensely to evaluate interesting investment opportunities to strengthen our position and long-term growth. THQ Nordic has a unique position and strategy in the market and we will leverage this over the coming years.
We are now focusing on executing our plan for the final quarter of the year, as well as planning for the year ahead. I have great confidence that 2018 will be our most exciting year so far.
- LARS WINGEFORS, FOUNDER & CEO
All comparatives within parentheses refer to the corresponding period of the previous year, unless otherwise stated.
This information was distributed by Cision http://www.cisionwire.se/