Thunderful Group Interim Report January–June 2023
Solid quarter with strong growth
Second quarter April–June 2023
- Net revenue increased 23.2 percent to 715.3 MSEK (580.7).
- Operating profit (EBIT) increased 147.1 percent to 24.8 MSEK (10.0), corresponding to an operating margin of 3.2 percent (1.6).
- Adjusted EBITDA increased 19.0 percent to 83.2 MSEK (69.9), corresponding to an adjusted EBITDA margin of 10.7 percent (11.3).
- Adjusted EBITA increased 56.0 percent to 50.1 MSEK (32.1), corresponding to an adjusted EBITA margin of 6.5 percent (5.2).
- Profit for the quarter amounted to –60.4 MSEK (–21.8).
- Earnings per share after dilution amounted to –0.86 SEK (–0.31).
- Cash flow from operating activities amounted to –29.5 MSEK (–40.1).
- Consolidated cash and cash equivalents together with unutilised credit facilities amounted to 283.2 MSEK (335.2) as of 30 June 2023.
- The Board of Directors decided to appoint Martin Walfisz as new CEO. Martin, who takes office on 28 August 2023, succeeds Anders Maiqvist, Acting CEO since 10 August 2022.
- Lennart Sparud announced that he has chosen to end his employment as CFO for new challenges outside the company. The recruitment process for a new CFO began immediately.
The period January–June 2023
- Net revenue increased 12.8 percent to 1,270.7 MSEK (1,126.7).
- Operating profit (EBIT) increased 173.6 percent to 44.0 MSEK (16.1), corresponding to an operating margin of 3.2 percent (1.3).
- Adjusted EBITDA increased 36.1 percent to 155.8 MSEK (114.4), corresponding to an adjusted EBITDA margin of 11.2 percent (9.3).
- Adjusted EBITA increased 70.3 percent to 102.6 MSEK (60.2), corresponding to an adjusted EBITA margin of 7.4 percent (4.9).
- Profit for the period amounted to –47.0 MSEK (–20.7).
- Earnings per share after dilution amounted to –0.67 SEK (–0.29).
- Cash flow from operating activities amounted to 34.9 MSEK (162.6).
Events after the end of the quarter
No significant events after the end of the quarter.
Thunderful Group invites to a webcast August 21, 2023, 11.00 CEST in which the interim report for Q2 2023 is presented and thereafter there is an opportunity to ask questions. A recorded version of the presentation will also be available on Thunderful Group's website. The presentation will be held in English. The presentation will be moderated by Dennis Berggren, analyst at Carnegie Investment Bank.