Thunderful Sees 4% Rise in H1 Revenue

Thunderful Group's latest financial report reveals a 4% increase in H1 2023 net revenue, despite a 9% decline in Q3. The company's distribution revenue saw significant growth, largely attributed to ongoing sales of The Legend of Zelda: Tears of the Kingdom and the lingering effect of the Super Mario Bros. movie. Key highlights include: Total Q3 revenue of SEK 626.2 million ($59.4 million), a 9% year-on-year decrease, and net revenue of SEK 1.86 billion ($176.5 million), representing a 4% increase. Distribution services accounted for 85% of Q3 total revenue, with Bergsala, the exclusive Nintendo distributor for the Nordic region, contributing significantly to this growth. The report also notes the appointment of Martin Walfisz as Thunderful's new CEO, who described the Q3 results as 'mixed', with the Distribution segment performing well but the Games segment experiencing a slower quarter.