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Annual Report 2019
Revenue 256,574 221,304 Revenue at constant currency 255,295 221,304 Operating profit - pre-royalties receivable 69,834 64,702 Royalties receivable 11,365 9,617 Operating profit 81,199 74,319 Profit before taxation 81,296 74,270 Cash generated from operations 88,776 82,332 Earnings per share ...
- Games Workshop Group PLC reported a strong financial performance in 2019, with revenue increasing to £256,574,000 from £221,304,000 in 2018, and operating profit rising to £81,199,000 from £74,319,000.
- The company achieved a third consecutive year of record constant currency sales, profit, cash generation, and returns to shareholders, driven by its core business of producing and selling fantasy miniatures.
- Earnings per share grew to 202.9p in 2019 from 184.3p in 2018, and dividends per share declared in the year increased significantly to 155p from 126p.
- Cash generated from operations also saw a healthy increase, reaching £88,776,000 in 2019 compared to £82,332,000 in 2018.
- Despite the positive financial results, the company's return on capital decreased from 120% in 2018 to 100% in 2019, primarily due to an increase in average capital employed.
Half-Yearly Report: Six Months to 1 December 2019
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the six Six months to Six months to 1 December 2019 2 December 2018 Revenue £148.4m £125.2m Revenue at constant currency £145.6m £125.2m Operating profit pre-royalties receivable £48.5m £35.3m Royalties...
- Games Workshop Group PLC reported record sales and profit for the six months ending December 1, 2019, with revenue increasing by 19% to £148.4 million (16% at constant currency) and operating profit rising to £59.2 million from £40.8 million in the prior year.
- Profit before taxation increased by £17.8 million to £58.6 million, and basic earnings per share grew to 145.9p from 101.3p.
- Licensing income (royalties receivable) significantly increased by £5.2 million to £10.7 million, including £6.2 million from new license contracts, compared to £1.6 million in the previous year.
- Sales growth was observed across all channels: Trade (£76.1 million), Retail (£45.3 million), and Online (£24.2 million).
- The company declared dividends of 100p per share during the period, including a new dividend of 45 pence per share, and invested £5.7 million in capital projects.
Half-Yearly Report: 29 November 2020
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the six Six months to Six months to 29 November 2020 1 December 2019 Revenue £186.8m £148.4m Revenue at constant currency £188.2m £148.4m Operating profit - pre-royalties receivable £83.3m ...
- Games Workshop Group PLC reported significant growth for the six months to November 29, 2020, with revenue increasing to £186.8m from £148.4m in the prior year, and operating profit rising to £92.0m from £59.2m.
- Profit before taxation for the period reached £91.6m, up from £58.6m, and basic earnings per share grew to 226.1p compared to 145.9p in the previous year.
- Sales growth was strong across all channels, with trade sales up 33%, online sales up 87%, and retail sales broadly following government lockdown rules, contributing to a 26% overall sales increase.
- The company achieved a 75% gross margin, a 6% increase, driven by higher volumes, and maintained a controlled cost-to-sales ratio of 28% (excluding group profit share and discretionary bonus), down from 36% in 2019.
- Manufacturing output increased by 30% compared to the same period last year, with the new Warhammer 40,000 launch breaking production volume records, and the company is expanding its manufacturing capacity with a new factory nearing completion and securing additional land.
Half-Yearly Report: 2022-2023
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the 26 week period to 27 November 2022. 26 weeks to 26 weeks to 27 November 2022 28 November 2021 Core revenue £212.3m £191.5m Licensing revenue £14.3m £20.1m Revenue ...
- Games Workshop Group PLC reported a half-yearly revenue of £226.6m for the 26 weeks to 27 November 2022, an increase from £211.6m in the prior year, with core revenue growing to £212.3m from £191.5m.
- Operating profit decreased to £83.6m from £88.5m in the previous year, and profit before taxation also saw a decline to £83.6m from £88.2m.
- Licensing revenue significantly decreased to £14.3m from £20.1m, largely due to a high level of guarantee income on multi-year contracts recognized in the prior year.
- The company's net increase in cash before dividends paid rose substantially to £68.1m from £41.4m, and dividends per share declared increased to 165p from 100p.
- Core sales growth was observed across Retail (+9.8%) and Trade (+3.4%), with a slight decline in Online sales (-0.5%) on a constant currency basis.
Half-Yearly Report: 26 Weeks to 26 November 2023
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the 26 week period to 26 November 2023. 26 weeks to 26 weeks to 26 November 2023 27 November 2022 Core revenue £235.6m £212.3m Licensing revenue £12.1m £14.3m Revenue ...
- Games Workshop Group PLC reported record half-yearly revenue of £247.7m (up from £226.6m in the prior period) and profit before taxation of £95.2m (up from £83.6m) for the 26 weeks to 26 November 2023.
- Core revenue grew by 11.0% to £235.6m, with growth across Retail (+12.3%), Trade (+12.6%), and Online (+4.9%).
- Core gross margin increased significantly from 64.2% to 69.4%, primarily due to reduced inventory provision charges and lower carriage costs.
- Dividends per share declared and paid in the period increased to 195p, up from 165p in the previous comparable period.
- The company's cash and cash equivalents increased to £111.3m as of 26 November 2023, up from £90.2m at 28 May 2023.
Half-Yearly Report: 2024–2025
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the 26 week period ended 1 December 2024. 26 weeks ended 26 weeks ended 1 December 2024 26 November 2023 Core revenue £269.4m £235.6m Licensing revenue £30.1m £12.1m Revenue £299.5m £247.7m Revenue at cons...
- Games Workshop Group PLC reported its best first half-year performance for the 26 weeks ended December 1, 2024, with total revenue reaching £299.5m, up from £247.7m in the prior year.
- Operating profit significantly increased to £126.1m for the 26 weeks ended December 1, 2024, compared to £94.5m in the same period last year, with profit before taxation at £126.8m.
- Core revenue grew by 14.3%, driven by strong performance in Trade (+21.7%) and Retail (+11.2%), although Online revenue decreased by 4.2%.
- Licensing revenue saw substantial growth, increasing from £12.1m to £30.1m, with licensing operating profit rising from £11.1m to £28.0m.
- Earnings per share rose to 288.9p for the 26 weeks ended December 1, 2024, up from 216.9p in the previous year.
Half-Yearly Report: 2025
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the 26 week period ended 30 November 2025. 26 weeks ended 26 weeks ended 30 November 2025 1 December 2024 Core revenue £316.1m £269.4m Licensing revenue £16.0m £30.1m Revenue ...
- Games Workshop Group PLC reported a record half-year performance for the 26 weeks ended November 30, 2025, with total revenue reaching £332.1 million, up from £299.5 million in the prior year.
- Core revenue increased significantly to £316.1 million (from £269.4 million), while licensing revenue decreased to £16.0 million (from £30.1 million).
- Operating profit grew to £140.4 million (from £126.1 million), and profit before taxation increased to £140.8 million (from £126.8 million).
- Earnings per share rose to 319.9p (from 288.9p), and dividends per share declared and paid in the period were 225p (from 185p).
- The company is expanding its infrastructure with a new UK warehousing facility opening in 2027 and a new Warhammer World format location in North America also planned for 2027.
Annual Report and Accounts 2023
FRONTIER REALMS ANNUAL REPORT AND ACCOUNTS 2023 GROWING AND EVOLVING ANNUAL REPORT HEADLINES CONTENTS Frontier is a leading independent developer and publisher of video games See a summary of our progress in FY23 including 01 Headlines founded in 1994 by David Braben, co-author of the iconic Elite game.
- Frontier Developments PLC acquired Complex Games, developers of Warhammer 40,000: Chaos Gate – Daemonhunters, in November 2022, gaining expertise in turn-based strategy games.
- The company's gross research and development spend increased to £52.9 million in FY23, up from £47.5 million in FY22.
- Planet Zoo, released in 2019, is on its 15th PDLC pack (Oceania Pack, due September 2023) and supports animal conservation initiatives with partners like Edinburgh Zoo and San Diego Wildlife Alliance.
- Adjusted EBITDA (loss)/profit for FY23 was (£4,595k), a decrease from (£6,677k) in FY22.
- From FY24, the company will amortize other intangible assets more rapidly in the first 12 months post-release, which may negatively impact reported operating profit short-term but not Adjusted EBITDA.
Integrated Report 2025
SEGA SAMMY HOLDINGS INTEGRATED REPORT 2025 SEGA SAMMY HOLDINGS INTEGRATED REPORT 2025 Key Visual from Sonic the Hedgehog 3 movie Group Value Introduction Strengthening of Non-Financial Capital Creativity is Mindset and DNA SEGA SAMMY Group Core Businesses 02 Materiality 56 Creativity is Alway...
- SEGA SAMMY Holdings aims for Adjusted EBITDA over ¥230.0 billion and ROE over 10% cumulatively for the three-year period from FY2025/3 to FY2027/3.
- The company is expanding its Gaming Business through the acquisition of Stakelogic B.V. by its subsidiary SEGA SAMMY CREATION INC., completed on April 28, 2025.
- The Entertainment Contents Business expects revenue to increase compared to FY2025/3, with strong sales of new and repeat full games in the Consumer area and continued growth in licensing income, despite an anticipated reactionary decline in Animation areas.
- The Pachislot & Pachinko Machines Business aims to reclaim the No. 1 total utilization share, having fallen one position in the fiscal year ended March 2024 due to differences between product specifications and market needs.
- SEGA SAMMY Holdings is reinforcing "culturally diverse human resources" aligned with its global business expansion strategy and has increased external directors to four to enhance transparency and governance.
Annual Report and Accounts 2024
ANNUAL REPORT AND ACCOUNTS 2024 30 YEARS OF HEADLINES CONTENTS CREATIVITY, STRATEGIC REPORT See a summary of the headlines for FY24, 01 Headlines INNOVATION AND ...
- Frontier plans to release three self-published CMS (Creative Management Simulation) games in the next three consecutive financial years: Planet Coaster 2 in autumn 2024 (FY25), a new Jurassic World game in FY26, and a third unannounced CMS game in FY27.
- Frontier reported a loss before taxation of £28.425 million for the 12 months ending May 31, 2024, an increase from £26.509 million in the previous year.
- Net cashflows from operating activities decreased to £31.625 million in FY24 from £47.875 million in FY23, while net cashflows used in investing activities improved to (£27.868 million) from (£52.310 million).
- The company incurred £1.4 million in costs from an Organizational Review in FY24, primarily due to redundancy costs, compared to £nil in FY23.
- Frontier's total unrecognised tax losses increased to £109.5 million at May 31, 2024, from £80.2 million at May 31, 2023, with these losses having no expiry date.
FY25 Trading Update
FOR THE FINANCIAL YEAR 1 JUNE 2024 TO 31 MAY 2025 PRIVATE AND CONFIDENTIAL RESERVED STRONG RESULTS AND INCREASED MOMENTUM 2 FINANCIALS the account or benefit of, U.S.
- Frontier Developments PLC's revenue increased by 1% to £90.6 million in FY25, with gross profit up 3% to approximately £63 million.
- Planet Coaster 2 sold over 500,000 base game units in FY25 (approximately 7 months) and has received 5 free major updates since launch, with a 6th scheduled for later this month.
- Jurassic World Evolution 3 is announced for release on October 21, 2025 (in FY26) on PC, PlayStation 5, and Xbox Series X|S, featuring breeding, juvenile dinosaurs, and Jeff Goldblum.
- Elite Dangerous saw a nearly 150% growth in PDLC revenue due to monetisation improvements, including early access ship sales, and PDLC accounted for 36% of total revenue in FY25 (up from 35% in FY24).
- Subscription revenue decreased significantly from 13% in FY24 to 5% in FY25, though underlying revenue, excluding subscription deals, grew by 11%.
Annual Report and Accounts 2025
ANNUAL REPORT AND ACCOUNTS 2025 ANNUAL REPORT AND ACCOUNTS 2025 Frontier is a leading independent developer and CONTENTS publisher of video games for PC and consoles, HEADLINES STRATEGIC REPORT creating immersive and fun gameplay with high See a summary of the headlines for FY25, 01 Headlines production values.
- Frontier Developments PLC achieved significant profitability and cash generation uplift in FY25, driven by a sharpened focus on CMS (Content Management System) games and a sustainable cost base.
- Revenue increased year-on-year in FY25, and gross profit rose to £63.3 million (up from £61.3 million in FY24), with an improved gross margin of 70% (up from 69% in FY24) due to a greater share of own-IP game revenue.
- Elite Dangerous, a long-standing space exploration title outside the CMS portfolio, saw 76% year-on-year revenue growth in FY25, supported by new content and increased player engagement.
- Cash expenditure on CMS games represented 72% in FY25, a significant increase from 58% (£26.5 million) in FY24, reflecting a strategic refocus and reallocation of employees to capitalisable projects.
- Frontier will adopt Adjusted Operating Profit as its primary financial performance measure from FY26, replacing Adjusted EBITDA, to provide a more accurate reflection of Group performance.