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Redeye: THQ Nordic - Monstrous quarters ahead
THQ Nordic did, yet again, deliver a quarter significantly above our expectations. We are now heading into a period where multi-year game investments are starting to pay-off. We have made some positive forecast adjustments which leads to an increased Base-case valuation. We find that the market is yet to understand the underlying value of THQ Nordic’s growing IP asset.
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This is a press release from Redeye - Research Powered Investment Banking. https://www.redeye.se/about/
Ekstern link: http://news.cision.com/se/thq-nordic-ab/r/redeye-thq-nordic–monstrous-quarters-ahead,c2620282
Nyheten er levert av Cision.
http://www.netfonds.no/quotes/release.php?id=20180918.Cision.20180918:BIT:6782:0
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THQ Nordic acquires Alone in the Dark
THQ Nordic has acquired the survival horror classic series “Alone in the Dark” and RTS-series “Act of War” from Atari Europe SAS, France, including all of its assets, intellectual property and publishing rights.
About Alone in the Dark
Alone in the Dark is originally developed by Infogrames and the first game was released 1992 and had average Gamerankings of 90%. The original story is based on the writings of H. P. Lovecraft. Six games of the series have been released, with various themes and locations. Two comic books and two films were created based upon the games.
About Act of War
Act of War is a real-time strategy game developed by Eugen Systems that featured a fine-grained story, fabricated by NYT bestselling author Dale Brown.
For additional information, please contact:
Lars Wingefors, Founder and CEO
Tel: +46 708 471 978
E-mail: [email protected]About THQ Nordic
THQ Nordic acquires, develops and publishes PC and console games for the global games market. The company has an extensive catalogue of over 100 owned franchises, such as Saints Row, Dead Island, Homefront, Darksiders, Metro (exclusive license), Titan Quest, MX vs ATV, Red Faction, Delta Force, Destroy All Humans, ELEX, Biomutant, Jagged Alliance, SpellForce, The Guild amongst others. THQ Nordic has a global publishing reach within marketing, sales and distribution, both online and offline. The company has a global presence, with its group head office located in Karlstad, Sweden and with operational offices in Vienna, Austria and Munich, Germany. The group has eleven internal game development studios based in Germany, UK, USA and Sweden and engages almost 1,750 people.THQ Nordic’s shares are publicly listed on Nasdaq First North Stockholm under the ticker THQNB:SS with FNCA Sweden AB as its Certified Adviser. For more information, please visit: http://www.thqnordic-investors.com
Ekstern link: http://news.cision.com/thq-nordic-ab/r/thq-nordic-acquires-alone-in-the-dark,c2621958
Ekstern link: http://mb.cision.com/Main/15049/2621958/911910.pdfNyheten er levert av Cision.
http://www.netfonds.no/quotes/release.php?id=20180919.Cision.20180919:BIT:8458:0
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Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre 
Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.
Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:
- @Evilfreud (17 likes)
- @nofun (11 likes)
- @babyrage (2 likes)
Resten av topp 10:
- @Warholm (1 likes)
Gratulerer!
Q3 another small quarter – awaiting 2019
We remind investors that Q3 2018 will be another small quarter in terms of full-year profits (~16% of full-year 2018E EBIT pre Q3 revisions) as we expect sequentially lower revenue for the high-margin games divisions THQ Nordic Games and Deep Silver due to few new releases during the third quarter although the Partner Publishing/Film business should see strong sequential growth due to major releases such as F1 2018 and Shadow of the Tomb Raider albeit at a lower gross margin. SG&A will be burdened by the group’s major presence at Gamescom 2018 and increased marketing ahead of Q4/Q1 releases, which is why we expect the overall EBITDA margin to contract by 860bps q/q, offset at the EBIT level by lower D&A. We have raised our Q3 EBIT estimate to SEK 72m (57m), as we have increased our gross margin forecast for the Partner Publishing/Film business. We await the Q3 report before making any estimate changes to 2018-2020E although for 2018E our higher Q3 EBIT estimate looks like it could be offset by Wreckfest for console being delayed, but this would make 2019E even better. As always for the small quarters our focus will be on the news flow for game projects, especially regarding major releases like Darksiders III, Metro Exodus and Biomutant, and any expected M&A. However, given the recent sector sell-off, both in the Nordics and globally, potential weak numbers would certainly pose a short-term share price risk as THQ now trades at a premium to Western majors although at a discount versus local peer Paradox Interactive. We reiterate our Buy rating and target price of SEK 227. The Q3 report is due out 14 November.
Q3 2018E – preview comments
THQ Nordic Games – In Q3, we expect THQ Nordic Games to grow well, albeit at a lower absolute level than in Q2, due to spillover effects from the H1 releases of MX vs ATV, Titan Quest, Wreckfest, strong catalogue sales and a few other releases, where the remaster of Red Faction: Guerrilla, Titan Quest for Switch and This is the Police II should have the largest impact.
Deep Silver’s income from Kingdom Come: Deliverance surprised on the upside in Q2 but should decline in Q3 even though new DLC (From the Ashes) was released 5 July as sales of the original game should be lower. Other releases like Dakar 2018, Pathfinder: Kingmaker and Bards Tale IV were released in the second half of September, which is why the largest effect on revenue is likely to fall in Q4. We also do not expect an equally strong quarter to Q2 in terms of back catalogue sales, which why in total we expect Deep Silver’s revenue to fall q/q.
Partner Publishing/Film is expected to see a strong Q3, boosted by high-impact partner releases such as F1 2018 and Shadow of the Tomb Raider but the higher sales will not fully drop through to the EBIT line as we expect lower gross margins for these high-impact titles as THQ bears lower inventory risk.
In total , group revenue and EBIT will grow q/q due to Partner Publishing/Film as lower revenue and Gamescom-related costs will hold back the games divisions’ EBIT. Q3 revenue should, as in Q2, enjoy positive FX effects, as the SEK has weakened versus the EUR, USD and GBP by 6-9% y/y.
Q3 2018E – group estimates (SEKm)
Source: Pareto, company data
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Spennende å se om beskymringen deres stemmer og det går an å få den billigere. 
Funfact, Pareto har sluttet å legge hele analyse PDFen åpent på nett. Nå må man trykke på link og får en merket PDF som man ikke bør dele 
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Mange fryktet jo et dårlig Q3 :
THQTHIRD QUARTER 2018
Net sales increased by 1,403% to SEK 1,272.7 m (84.7).
Owned titles represented SEK 187.9 m (62.6), or 50%, of business area Games sales in the quarter.
EBITDA increased by 521% to SEK 214.8 m (34.6), corresponding to an EBITDA margin of 17%.
EBIT increased by 278% to SEK 90.8 m (24.0), corresponding to an EBIT margin of 7%.
Cash flow from operating activities amounted to SEK –740.1 m (29.2).
Earnings per share were SEK 0.74 (0.26).
5 owned titles and 9 publishing titles were released in the third quarter.
INTERIM PERIOD JANUARY-SEPTEMBER 2018
Net sales increased by 988% to SEK 2,743.0 m (252.1).
Owned titles represented SEK 510.5 m (183.0), or 41%, of business area Games sales in the period.
EBITDA increased by 457% to SEK 647.6 m (116.2), corresponding to an EBITDA margin of 24%.
EBIT increased by 191% to SEK 250.5 m (86.2), corresponding to an EBIT margin of 9%.
Cash flow from operating activities amounted to SEK 124.2 m (80.5).
Earnings per share were SEK 2.17 (0.91).
As of 30 September 2018, cash and cash equivalents were SEK 1,345.6 m. Available liquidity including credit facilities was SEK 2,244.2 m.
I tillegg kom det 2 oppkjøp :
EDIT: Her er foresten en av grunnene til at jeg liker THQ :
" By the end of the quarter, we had 55 games under development, of which 35 are still in the pipeline waiting to be announced."
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Ser foresten ut som om det ikke bare er jeg som er fornøyd med THQ i dag. Opp ca 20%
EDIT: Darksiders franchise pack koster nå 45kr ( 90% rabatt ) og ligger som #5 på gts. Bare 2 uker til Darksiders III som ligger som #75:)
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03/12-2018 15:00:00: (THQN-B.ST) THQ Nordic förvärvar varumärket Carmageddon
Dette hadde jeg ikke fått med meg. Velkjent, populær serie som har hanket inn mye bra kritikk før.
Ser gamer.no ikke var nådig i sin anmeldelse av nr 3.
Synd for THQ. Dette slippet var vel et av årets største for de.
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Bryter den opp?
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Evt bare se at de slipper et storspill om en måned som allerede har top50 på steam.
Hilsen han som skulle ta en rask trade og solgte alt på fredag til 149SEK pr aksje.
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Elex ligger nå som #1 med 60% rabatt.
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10/01-2019 15:00:00: (THQN-B.ST) THQ Nordic acquires the Outcast IP
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THQ, saviour of IPs
Metro Exodus ligger nå som #13 og #24 og fremdeles ca 3 uker til launch.
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