A very solid report, sales and EBIT in line
A very solid report from G5 today. Sales SEK 364m (0% vs ABGSCe 364m and -1% vs cons 366m), EBIT SEK 48m (2% vs ABGSCe 47m and -2% vs cons 49m), Net profit SEK 46m (11% vs ABGSCe 41m). Sales in USD-terms was -7% y-o-y, in line with expectations and the underlying market in Q4. Trend look good with Sherlock performing well and Hidden City rebounding slightly, which we forecasted. Importantly, this trend seems to hold in January as well. Management guide that this new normal in Q4 should persist, with similar operational performance in 2023. Interestingly, it also expects to release a new hidden objects game in soft launch before summer. 106,000 shares was repurchased during Q4 (~1.2% of capital) and board proposed SEK 8.0/sh dividend (7.0).
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