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THQ Nordic confirms new Saints Row title after strong Q1

The publisher also said that development of Dead Island 2 is now being led by Dambuster Studios

THQ Nordic enjoyed a strong first quarter for revenue and profit, and it confirmed that a new Saints Row is in the development at Volition.

In the three months ended June 30, 2019, the publishers earned SEK 1.14 billion (€107 million), up 36% year-on-year. Operational EBIT rose to SEK 204 million (€19 million), an increase of 193% over Q1 last year.

Operational EBIT margin also increased from 8% to 18%, as a lack of new releases shifted emphasis to catalogue sales.

THQ Nordic said that 58% of sales were digital in the quarter across its three main business areas -- Deep Silver, THQ Nordic and Coffee Stain -- all of which contributed toward operating EBIT. It invested a record SEK 356 million (€33 million) in development of projects during the quarter, up from SEK 208 million (€19 million) last year.

Collectively, Deep Silver, THQ Nordic and Coffee Stain earned SEK 641 million (€60 million) in revenue, with SEK 501 million (€47 million) coming from Partner Publishing.

THQ Nordic expects to launch "at least two" AAA games before March 31, 2021, and one of them may well be a new Saints Row game. The publisher confirmed that Volition is "deep in development" of the first new game in the series since 2013.

It also said that the long in development Dead Island 2 is now in the hands of Dambuster Studios, one of company's internal teams.

It has been a busy day for THQ Nordic, following the acquisitions of both Milestone Interactive and Gunfire Games. The company raised $225 million for new acquisitions earlier this year.

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Matthew Handrahan avatar
Matthew Handrahan: Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.
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