Keywords Studios Annual General Meeting: 2021 Full Year Results

Key insights

7 takeaways

01
Group revenue grew 37.1% to €512.2m in 2021 from €373.5m in 2020.See it on page 7
02
Organic revenue growth was 19.0% in 2021, up from 11.7% in 2020.See it on page 7
03
Adjusted profit before tax rose 56.4% to €86.0m, and the adjusted PBT margin increased by 2.1 percentage points to 16.8%.See it on page 7
04
The company completed six high quality acquisitions during the year.See it on page 6
05
The company expects margins to move back towards 14-15% and is confident of FY22 performance in line with expectations.See it on page 17
06
The company's 2021 MSCI ESG Ratings assessment improved to 'A' from BBB previously.See it on page 8
07
Keywords works with 23 of the top 25 games companies by revenue and 10 of the top 10 mobile games publishers by revenue.See it on page 15

Summary

Keywords Studios plc presented its 2021 full year results at its Annual General Meeting, covering results highlights, Q&A and formal business. The presentation reports results for the Group, which operates as a technical and creative services provider to the video games industry, with an average of 9,493 people in 2021 across more than 70 studios in 23 countries. Revenue rose 37.1% to €512.2m (2020: €373.5m), adjusted profit before tax rose 56.4% to €86.0m (2020: €55.0m), and organic revenue growth was 19.0% (2020: 11.7%). Adjusted EPS was 89.24c (2020: 60.93c), and a total dividend of 2.15p was declared, with a final dividend of 1.45 pence per share put to shareholders. Six acquisitions were completed during the year.

The company says trading in the first quarter has started well and that it is confident of delivering at the higher end of current market expectations for the full year. It expects margins to move back towards 14-15%, and it will hold a Capital Markets Day on 8 June. The presentation also reports an MSCI ESG rating of 'A', up from BBB previously.

Shareholder voting results show all 17 resolutions were presented, with the 2021 Annual Report and Accounts receiving 99.99% votes for, while the Remuneration Report received 66.3% for and 33.7% against.