GunHil Ltd.

What GunHil Ltd. does

GunHil Ltd. (GunHil ehf.) is an Icelandic CGI animation and film production company headquartered in Reykjavík, founded in 2012 by co-founders Gunnar Karlsson and Hilmar Sigurdsson. The company operates two business lines: an international Film & TV division producing animated feature films and short films for theatrical and VOD distribution, and a Commercial Work division providing character design, animation, and creative direction services to Icelandic and Scandinavian brands and agencies. GunHil is a small studio (1-10 employees) and was sold to Sagafilm in 2017 before being bought back by its original founders in 2023.

GunHil's film portfolio includes Iceland's first animated feature film, Legends of Valhalla – THOR (2011), sold to over 30 countries with nearly 800,000 admissions in South Korea alone, and Ploey – You Never Fly Alone (2018), which holds the record as the Icelandic film with highest international theatrical attendance of all time and has been distributed in over 70 countries. Core technology is CGI-based animation production, supplemented by international co-production partnerships (Cyborn/Belgium, VIVI-Films/Brussels, Qvisten Animation/Norway, Ulysses/Germany, Magma/Ireland) and world sales representation by Playmaker of Munich. Ploey 2 (The Legend of the Winds) is in development with a planned Christmas 2026 premiere alongside VIVI-Films. The studio also co-produced the first minority-language film in Iceland (WOLKA, 2021) and contributed to the Nordic Public Broadcasters' Christmas Special 'The Snow-Children's Christmas Hour' in 2022.

GunHil's revenue model is hybrid and project-based: one-time licensing revenue from feature film production (theatrical distribution, VOD licensing through Amazon Prime and AppleTV, and international sales via Playmaker), professional services revenue from commercial animation projects for brand clients, and ongoing licensing/royalty income from original IP including the Ploey franchise. Leadership comprises co-founders Gunnar Karlsson (creative director) and Hilmar Sigurdsson (producer), Árni Geir Pálsson as Chairman, and Haukur Sigurjonsson as Head of Production. The studio is privately held, with no disclosed funding rounds or revenue figures.

Name

GunHil Ltd.

Legal name

GunHil ehf.

Website

https://gunhil.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

GunHil Ltd. is an Icelandic CGI animation studio producing animated feature films and short films for international theatrical and VOD distribution, alongside commercial animation services for Icelandic and Scandinavian brands and agencies.

Ownership category

akta.pro rank

Product category

Animation Production Services

NAICS

Motion Picture and Video Production (51211)

SIC

Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Content Production (Video, Design, Copy, Studio) (BPAFAAAF)

Keywords

• Animated film production
• CGI animation services
• Feature film production
• Commercial animation
• Animation co-production

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Feature Film Production: GunHil produces animated feature films, generating revenue through theatrical distribution, VOD licensing, and international sales. Films are co-produced with partner studios and distributed globally through sales agents like Playmaker.
2. Commercial Animation Work: GunHil creates animated commercials and corporate videos for clients including Icelandic brands and agencies, providing character design, animation, and creative direction services.
3. IP Licensing and Royalties: Original properties like Ploey and Legends of Valhalla – THOR generate ongoing licensing revenue through international distribution agreements and VOD platforms including Amazon Prime and AppleTV.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

GunHil Ltd. is an Icelandic animation and film production studio that creates CGI animated feature films, short films, and TV specials, as well as provides animation production services for commercial clients. The company develops original intellectual property (such as the Ploey franchise) and produces commissioned work including brand animations, corporate videos, and festival trailers through co-production partnerships with international studios.

Product overview

GunHil Ltd. is an Icelandic animation and film production company co-founded by Gunnar Karlsson and Hilmar Sigurdsson. The company operates two main divisions: Film & TV productions and Commercial Work services. Their film portfolio includes animated feature films (Ploey, Legends of Valhalla – THOR) and short films (Anna and the Moods, The Lost Little Caterpillar, Kvak, WOLKA, The Yule Shoe). Currently in development is Ploey 2. The commercial division provides animation services for brand campaigns and corporate videos. The company was acquired by Sagafilm in 2017 and bought back by original founders in 2023.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Ploey holds record as the Icelandic film with highest international theatrical attendance of all time
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• SagafilmcoreStrategic or Co-development Partner · 1 January 2023Sagafilm acquired GunHil in 2017; Hilmar Sigurdsson led Sagafilm for six years. Upon sale of Sagafilm in summer 2023, the original GunHil partners (Gunnar Karlsson, Hilmar Sigurdsson) bought back their animation company from Sagafilm.
• Qvisten Animation (Oslo)minorStrategic or Co-development Partner · 1 January 2022Co-production partner for The Yule Shoe (2022), part of Nordic Public Broadcasters' Christmas Special 'The Snow-Children's Christmas Hour'.
• Film-produkcjaminorStrategic or Co-development Partner · 1 January 2021Co-production partner for WOLKA (2021), a Sagafilm Production in co-production with Film Produkcja. WOLKA was the first minority language film in Iceland, shot in Polish.
• Cyborn (Antwerp)coreStrategic or Co-development PartnerCo-production partner for Ploey – You Never Fly Alone. Cyborn is a long-established CGI Animation studio in Belgium where Ives Agemans co-directed and produced.
• Playmaker (Munich)coreChannel Partner/ Reseller/ DistributorWorld sales agent handling international theatrical distribution and VOD licensing for GunHil's feature films. Continues to handle world sales for Ploey 2.
• CAOZcoreStrategic or Co-development PartnerProduction company and studio for Legends of Valhalla – THOR (co-production), The Lost Little Caterpillar, Anna and the Moods, and Kvak. Co-founded by Hilmar Sigurdsson.
• Ulysses (Hamburg, Germany)minorStrategic or Co-development PartnerCo-production partner for Legends of Valhalla – THOR alongside CAOZ and Magma (Ireland).
• Magma (Ireland)minorStrategic or Co-development PartnerCo-production partner for Legends of Valhalla – THOR alongside CAOZ and Ulysses (Germany).
• VIVI-Films (Brussels, Belgium)coreStrategic or Co-development PartnerCo-production partner for Ploey 2 – The Legend of the Winds (in development). The film is expected to enter pre-production in Q4 2024 with premiere at Christmas 2026.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• LAIKA: US-based stop-motion animation studio producing feature films (Coraline, Kubo). Operates in the same animated feature film category as GunHil but at much larger scale and budget.
• Aardman Animations: UK-based stop-motion and animation powerhouse behind Wallace & Gromit and Shaun the Sheep. Operates broadly in the same animation feature/short space as GunHil but at significantly greater scale and brand recognition.

Direct peers

• Cartoon Saloon: Irish independent animation studio producing acclaimed feature films (Wolfwalkers, Song of the Sea) on a similar boutique-studio scale, making it one of the most directly comparable peers to GunHil's model of small-team, internationally distributed animated features.
• Studio Ponoc: Japanese animation studio producing hand-drawn feature films (Mary and the Witch's Flower, Modest Heroes). Comparable as an independent feature-animation studio at a similar scale to GunHil.
• Cyborn: Belgian CGI animation studio and GunHil's co-production partner on Ploey – You Never Fly Alone. Comparable as a similarly sized European CGI studio producing international animated features.
• Qvisten Animation: Norwegian animation studio and co-production partner on The Yule Shoe (2022) for the Nordic Public Broadcasters' Christmas Special. Comparable Nordic animation studio producing TV specials and feature work.
• Triggerfish Animation Studios: South African animation studio producing internationally distributed animated features (e.g., Khumba, Seal Team). Comparable as a boutique studio achieving global theatrical release through co-productions.
• CAOZ: Icelandic animation studio co-founded by Gunnar Karlsson and Hilmar Sigurdsson before they founded GunHil, and a long-standing co-production partner. Directly comparable as a small Icelandic CGI animation producer with overlapping creative leadership.

Others

• Sagafilm: Iceland's oldest production company that acquired GunHil in 2017 (with Hilmar Sigurdsson as CEO for six years) and from which GunHil was bought back in summer 2023. Comparable as a closely related Icelandic production entity and former parent.

Regional players

• Nørlum Studio: Danish animation studio producing Nordic animated features (e.g., Song of the Sea co-production lineage). Comparable as a Nordic regional animation producer serving similar family-animation markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/gunhil_rek
• Facebookfacebook.com/GunHilReykjavik
• LinkedInlinkedin.com/company/gunhil-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GunHil Ltd.