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Thunderful Group: Initial take Q2’22- Surprisingly strong from Games - Redeye

Redeye comments on Thunderful group’s Q2'22 report. Overall, we are encouraged by the report and are positively surprised by Games performance in the quarter. Net sales came in 10% above our estimates, while Adj EBITA was 10% below. However, this includes impairment from The Gunk of SEK -10m. Excluding this, Adj EBITA was 18% ahead of our estimates.

Redeye comments on Thunderful group’s Q2'22 report. Overall, we are encouraged by the report and are positively surprised by Games performance in the quarter. Net sales came in 10% above our estimates, while Adj EBITA was 10% below. However, this includes impairment from The Gunk of SEK -10m. Excluding this, Adj EBITA was 18% ahead of our estimates.
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