Brief: Thunderful Group Implements Strategic Restructuring Program

Thunderful AB

14/11/2024 06:34

Nov 14 (Reuters) - Thunderful Group AB  THUNDR.ST :
    * IMPLEMENTS STRATEGIC RESTRUCTURING PROGRAM: DOUBLING DOWN
ON
THIRD-PARTY GAME PUBLISHING AND SCALING BACK INTERNAL
DEVELOPMENT, RESULTING IN WRITE DOWNS OF 220-240 MSEK
    * PROGRAM WILL MEAN ONE-TIME COSTS OF 25-30 MSEK DURING Q4
    * PROGRAM WILL MEAN ANNUAL COST SAVINGS AND CONSEQUENTLY
IMPROVED
CASH FLOW OF 80-90 MSEK
    * PROGRA EXPECTED TO IMPACT 80-100 EMPLOYEES
    * GROUP EXPECTS MAJORITY OF THESE SAVINGS TO TAKE EFFECT
STARTING
Q1 2025
    * CAPITALISED GAME DEVELOPMENT EXPENDITURES, GOODWILL AND
INVESTMENTS IN GAME RIGHTS WILL BE WRITTEN DOWN WITH  220-240
MSEK

Source text:  ID:nMFN6wTVSW 
Further company coverage:  THUNDR.ST 

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