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THQ Nordic's net sales up 1,403% to $139.5m, new acquisition are coming, 55 titles in development

Rodjer

Rodjer

Self-requested ban.
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Jan 28, 2018
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The latest financial results for THQ Nordic show a dramatic increase in net sales, with earnings rising across the business.

For the three months ended September 30th, the publisher reported net sales of $139.5 million - a staggering year-on-year increase of 1,403% over the $9.3 million reported for the same period in 2017.
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THQ Nordic also released interim results for the year so far (from January 1st to September 30th), with net sales up 988% to $300.8 million. EBITDA increased 457% year-on-year to $71 million and EBIT was up 191% to $27.5 million.

The firm also announced alongside its financials that it has acquired Goat Simulator developer Coffee Stain and Wreckfest studio Bugbear Entertainment. It acquired HandyGames earlier in the quarter.

The three-month period also saw THQ Nordic add even more IP to its portfolio with the acquisitions of Alone in the Dark, Kingdoms of Amalur and Timesplitters (the latter through Koch Media).

In his statement, founder and CEO Lars Wingefors dubbed the period "another strong quarter with continued momentum". He also said the publisher has 55 games in development, of which 35 are unannounced, and hinted at more acquisitions to come.
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Full article is HERE.
 
daybreak

daybreak

Member
Feb 28, 2018
2,415
Good for them. Excited to see what projects come out from THQ Nordic, they've been making some very smart acquisitions.

Now give me Timesplitters 2 HD.
 
Khrol

Khrol

Member
Oct 28, 2017
4,179
I feel like THQ Nordic won't hit their stride until next gen. Eager to see the games they have cooking since they have a lot of IP I care for.
 
OP
OP
Rodjer

Rodjer

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Bishop89

Bishop89

What Are Ya' Selling?
Member
Oct 25, 2017
34,662
Melbourne, Australia
I don't understand their successful Resurrection.

How?

How are they acquiring everything?




All I care about is timesplitters, I hope a HD trilogy collection is in the works with 4 on its way. Would make me so happy

E1C494F7CABBC5A5C1D54D436F65B61DFF7D9238
 
Khrol

Khrol

Member
Oct 28, 2017
4,179
FF Seraphim said:
What did they even release? I had no idea they were improving so much overall.
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Bunch of ports and re releases so far iirc. Darksiders 3 drops next month.

All I've bought from them so far was the Titan Quest port on Switch and it's complete shit. Crashes nonstop and I hear the Xbox port has similar issues.

Here's hoping the eventual TQ2 is a much better game. We need more ARPG love on consoles.
 
MauroNL

MauroNL

What Are Ya' Buying?
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Oct 26, 2017
3,253
The Netherlands
Damn those are solid numbers. Wonder where they're getting all that funding from? What about net profit? I only see net sales which isn't really interesting if you're losing money in the end.

Edit: (Seems like they're making bank too, impressive)
The reason for this growth is THQ's acquisition of Koch Media and Deep Silver earlier this year, effectively doubling the publisher's potential revenues. Titles by this segment saw sales of $27.6 million, with the release of Dakar 18 and Pathfinder Kingmaker cited as key performers - even though the latter launched less than a week before the end of the quarter.

Even without Deep Silver, THQ Nordic's own titles would have driven net sales up 47% year-on-year to $13.6 million. The launch of Titan Quest and Red Faction Guerrilla Re-Mars-tered (both re-releases of hits from the previous incarnation of THQ) were highlighted as particular successes, as was This Is The Police 2.

Earnings before tax, depreciation and amortisation (EBITDA) rose by 521% year-on-year from $3.8 million to $23.5 million, while EBIT improved by 278% from $2.6 million to $9.9 million.

THQ Nordic also released interim results for the year so far (from January 1st to September 30th), with net sales up 988% to $300.8 million. EBITDA increased 457% year-on-year to $71 million and EBIT was up 191% to $27.5 million.
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Dest

Dest

Has seen more 10s than EA ever will
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Jun 4, 2018
14,057
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Holy shit, that's incredible. I was very skeptical when THQ Nordic took on the THQ name, but I've been proven very wrong and I'm glad that I have.
 
Bishop89

Bishop89

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Oct 25, 2017
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Melbourne, Australia
Roxas

Roxas

The Fallen
Oct 28, 2017
3,567
Buenos Aires, Argentina
Christ, THQ doing well again, even if it's not the same company, is a headline I'd never thought I'd read again. Still, smart people running a smart company, wish em all the best.
 
Banzai

Banzai

The Fallen
Oct 28, 2017
2,586
They were the ones who got the Timesplitters licence correct? Put that money to good use there please.
 
Paul

Paul

Banned
Oct 27, 2017
2,603
Can anyone list those 20 announced titles? I remember Biomutant, Darksiders and that's about it.

Congrats to them though, great company.
 

Deleted member 300

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Oct 25, 2017
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Titan quest is very rumoured to be getting a sequel the Devs of the anniversary and the ragnarok teased it on steam while back
 
BasilZero

BasilZero

Member
Oct 25, 2017
36,346
Omni
Damn dude

Nordic making a huge leap from how they were few years back


Bringing back the good in the name for THQ lol
 
Justified

Justified

Saw the truth behind the copied door
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Oct 25, 2017
2,022
Atlanta
Between THQ Nordic and Focus Home Interactive, I am loving the return of mid-tier/AA games
 
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