Game developer and publisher focusing on the PC and console market

THQ Nordic

THQ Nordic acquires, develops and publishes PC and console games for the global gaming market. Its core business model consists of acquiring established gaming brands and gradually improving them. Much of THQ’s soul stems from entrepreneur, founder and CEO Lars Wingefors, who at the age of 16 founded Nordic Games, which we today associate with THQ Nordic. The game changer came in 2013 when most of today’s brand portfolio was acquired from THQ Inc’s insolvency. At the start of 2018, the company acquired Koch Media, which focuses on game development and gives THQ a larger publishing business.

Financials

THQ Nordic

SEKm 2018 2019 2020
Sales 5338 5070 5390
Sales growth (%) 951,8 -5 6,3
EBITDA 1288 1434 N/A
EBITDA margin (%) 53,7 24,1 28,3
EBIT adj 188 514 699
EBIT adj margin (%) 37,1 9,6 13,8
Pretax profit 485 673 848
EPS rep 4,11 5,75 7,24
EPS growth (%) 134,2 39,8 25,9
EPS adj 4,11 5,75 7,24
DPS 0 0 0
EV/EBITDA (x) 12 10,6 9
EV/EBIT adj (x) 30 21,8 17,1
P/E (x) 39,9 28,5 22,6
P/E adj (x) 39,9 28,5 22,6
EV/sales (x) 2,9 3 2,8
FCF yield (%) -10,3 1,5 1,9
Dividend yield (%) 0 0 0
Net IB debt/EBITDA 0,2 0 -0,1

Company news

THQ Nordic

THQ Nordic förvärvar varumärket Outcast

10 January 2019

Main shareholders

THQ Nordic

Main shareholders Share capital % Voting shares % Verified
Lars Wingefors 39.5 % 54.9 % 31 Dec 2018
Erik Stenberg 8.5 % 11.9 % 31 Dec 2018
Swedbank Robur Fonder 9.0 % 4.8 % 31 Dec 2018
Handelsbanken Fonder 8.3 % 4.4 % 31 Dec 2018
CMB Holding AB 2.9 % 4.1 % 31 Dec 2018
Klemens Kreuzer 1.2 % 1.7 % 31 Dec 2018
Didner & Gerge Fonder 2.5 % 1.4 % 31 Dec 2018
Familjen Olsson med stiftelse 2.3 % 1.2 % 31 Aug 2018
Avanza Pension 1.3 % 0.7 % 31 Dec 2018
Livförsäkringsbolaget Skandia 1.2 % 0.6 % 31 Dec 2018
Source: Holdings by Modular Finance AB

Insider list

THQ Nordic

Name
Lars Wingefors AB
Wingefors Depå Tre AB
Lars Wingefors AB
Wingefors Depå Två AB
Lars Wingefors AB
Wingefors Depå Två AB
Lars Wingefors AB
Lars Wingefors AB
Lars Wingefors AB
Lars Wingefors AB
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