Financials Thunderful Group AB

Equities

THUNDR

SE0015195888

Toys & Juvenile Products

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2024-07-04 pm EDT			5-day change	1st Jan Change
2.08 ^SEK	-1.65%		-8.77%	-60.38%

Jun. 28	Bergsala NDP AB completed the acquisition of Amo Toys AB and Bergsala Aktiebolag and Thunderful Solutions AB and Thunderful 1 AB from Thunderful Group AB (OM:THUNDR).	CI
Jun. 26	Thunderful Group AB Announces Board Appointments	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	5,558	4,037	1,040	369	148.7	-	-
Enterprise Value (EV) ¹	5,266	4,248	1,159	771.1	693	414.1	148.7
P/E ratio	31.3 x	30.3 x	8.6 x	-0.61 x	2.78 x	1.27 x	-
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	1.8 x	1.29 x	0.34 x	0.13 x	0.06 x	0.05 x	0.05 x
EV / Revenue	1.71 x	1.35 x	0.38 x	0.27 x	0.27 x	0.15 x	0.05 x
EV / EBITDA	19 x	12.6 x	3.08 x	3.19 x	2.34 x	1.16 x	0.43 x
EV / FCF	-43,593,851 x	-54,877,773 x	2,363,527 x	-	-	-	-
FCF Yield	-0%	-0%	0%	-	-	-	-
Price to Book	2.84 x	2.24 x	0.52 x	0.27 x	0.1 x	0.1 x	-
Nbr of stocks (in thousands)	68,531	70,215	70,291	70,291	70,291	-	-
Reference price ²	81.10	57.50	14.80	5.250	2.115	2.115	2.115
Announcement Date	2/24/21	2/17/22	2/22/23	2/22/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,082	3,141	3,031	2,818	2,546	2,711	2,790
EBITDA ¹	276.7	335.8	375.6	241.9	295.7	356.9	344
EBIT ¹	215	208.8	196.1	-609.3	89.09	176.7	-
Operating Margin	6.98%	6.65%	6.47%	-21.62%	3.5%	6.52%	-
Earnings before Tax (EBT) ¹	170.5	168.9	158.3	-594.5	69.09	151.7	-
Net income ¹	135	132.2	121.2	-609.4	53.55	117.6	-
Net margin	4.38%	4.21%	4%	-21.62%	2.1%	4.34%	-
EPS ²	2.590	1.900	1.720	-8.670	0.7600	1.670	-
Free Cash Flow	-120.8	-77.4	490.2	-	-	-	-
FCF margin	-3.92%	-2.46%	16.17%	-	-	-	-
FCF Conversion (EBITDA)	-	-	130.51%	-	-	-	-
FCF Conversion (Net income)	-	-	404.46%	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-
Announcement Date	2/24/21	2/17/22	2/22/23	2/22/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	1,323	546	618.7	703.4	1,200	-	715.3	626.2	391.7	653	621	794
EBITDA ¹	126.5	43.7	69.3	77.4	185.2	72.6	83.2	83.2	-28.9	59	77	90
EBIT	83.7	5.2	-	-	143.1	-	50.1	-	-	-	-	-
Operating Margin	6.33%	0.95%	-	-	11.92%	-	7%	-	-	-	-	-
Earnings before Tax (EBT)	63.7	-	-	-	-	-	-	-	-	-	-	-
Net income	50	-	-	-	-	-	-	-	-	-	-	-
Net margin	3.78%	-	-	-	-	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/17/22	5/18/22	8/10/22	11/15/22	2/22/23	5/21/23	8/21/23	11/15/23	5/15/24	-	-	-

¹SEK in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	210	118	402	544	265	-
Net Cash position ¹	292	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	0.626 x	0.315 x	1.662 x	1.84 x	0.7437 x	-
Free Cash Flow	-121	-77.4	490	-	-	-	-
ROE (net income / shareholders' equity)	13.5%	8.04%	6.63%	-36.2%	3.8%	7.87%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	28.60	25.60	28.20	19.70	20.40	22.10	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	11.6	12.5	7.3	7.2	8	8	-
Capex / Sales	0.38%	0.4%	0.24%	0.26%	0.31%	0.3%	-
Announcement Date	2/24/21	2/17/22	2/22/23	2/22/24	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Thunderful Group AB

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.115 SEK

Average target price

6.5 SEK

Spread / Average Target

+207.33%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Games, Toys & Children Vehicles

	1st Jan change	Capi.
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INTERNATIONAL GAMES SYSTEM CO.,LTD.	+79.56%	5.62B
TOMY COMPANY, LTD.	+43.78%	1.78B
GUANGZHOU WAHLAP TECHNOLOGY CORPORATION LIMITED	-34.15%	321M
GOLDLOK HOLDINGS(GUANGDONG) CO.,LTD.	-40.52%	310M
THUNDER TIGER CORP.	+21.63%	300M
SHIFENG CULTURAL DEVELOPMENT CO., LTD.	-37.26%	228M
FRIENDTIMES INC.	-38.46%	220M
USERJOY TECHNOLOGY CO.,LTD.	+19.87%	147M

Games, Toys & Children Vehicles