Last checked at 10 Jan 2018 07:00
10 January 2018
Frontier Developments plc
Notice of Results and Trading update
Frontier Developments plc (AIM: FDEV, "Frontier", the "Company"), a leading developer of video games based in Cambridge, will report its interim financial results for the six months ended 30 November 2017 on Tuesday 6 February 2018. There will be a presentation to analysts at 9:30am on 6 February 2018 at the offices of Liberum at Ropemaker Place, 25 Ropemaker Street, London, EC2Y 9LY.
For the six months to 30 November 2017, the Board expects to report a sustained level of performance compared to the record results achieved for financial year 2017 (the twelve months ended 31 May 2017), with revenue of approximately £19 million in the period compared to £18.1 million for the six months to 30 November 2016 and £19.3 million for the six months to 31 May 2017. Both Elite Dangerous and Planet Coaster continue to perform well.
Frontier released Elite Dangerous on PlayStation 4 in June 2017. The launch was smooth and stable, which the Company believes illustrates the capabilities of its development and publishing teams, and the scalability of its infrastructure, such as the proprietary COBRA game engine. The successful launch boosted sales of Elite Dangerous, contributing to strong revenue generation during the period. The Company also released content updates for Planet Coaster and Elite Dangerous, and hosted a well-attended first Frontier Expo event in October 2017. Trading through the holiday period (Thanksgiving and Christmas) was in line with the Board's expectations, with both Elite Dangerous and Planet Coaster performing well in price promotion events.
Taking the above factors together, the Board anticipates that Elite Dangerous revenue will normalise down from the first half to the second half of the financial year as PlayStation 4 sales settle to a post-launch run-rate, but that underlying run-rate sales (including downloadable content) will sustain at healthy levels. As a consequence, the Board remains confident about achieving its expectations for the current financial year ending 31 May 2018.
As at 31 December 2017 cumulative sales of Elite Dangerous, which launched in December 2014, had exceeded 3.25 million franchise units and Planet Coaster, which launched in November 2016, had passed 1.4 million units.
David Braben, Chief Executive of Frontier Developments, commented:
"We are pleased with our performance in the first half of the financial year and the ongoing success of both Elite Dangerous and Planet Coaster, and we welcome our new audience of PlayStation 4 players for Elite Dangerous. We continue to be excited about our third franchise, Jurassic World Evolution, which is on-track for launch in summer 2018. Our team is doing a fantastic job and I'd like to thank them as well as our many players around the world who continue to support us."
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Alex Bevis.
Enquiries:
Frontier Developments +44 (0)1223 394 300
David Braben, CEO
David Walsh, COO
Alex Bevis, CFO
Liberum - Nomad and Joint Broker +44 (0)20 3100 2000
Neil Patel / Cameron Duncan
finnCap - Joint Broker +44 (0) 207 220 0500
Matt Goode/Giles Rolls / Alice Lane
Tulchan Communications +44 (0) 207 353 4200
James Macey White/Matt Low
About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the seminal 'Elite' game. Based in Cambridge, Frontier uses its proprietary 'COBRA' game development technology to create innovative games, currently focusing on videogame consoles and personal computers.
www.frontier.co.uk
About Elite Dangerous
Elite Dangerous - available for Windows PC, Apple Macintosh, Microsoft Xbox One and Sony PlayStation 4 - is the definitive massively multiplayer space epic, bringing gaming's original open world adventure to the modern generation with a connected galaxy, evolving narrative and the entirety of the Milky Way re-created at its full galactic proportions.
www.elitedangerous.com
About Planet Coaster
Planet Coaster - available for Windows PC - builds on Frontier's genre-defining expertise with coaster park games such as RollerCoaster Tycoon 3 and Thrillville. It further raises the bar for this popular genre, allowing players to let their imaginations run wild as they surprise, delight and thrill incredible crowds, and share their success with the world via the Steam Workshop community.
www.planetcoaster.com
About Jurassic World Evolution
Jurassic World Evolution - launching in summer 2018 for Windows PC, Microsoft Xbox One and Sony PlayStation 4 - evolves players' relationship with the Jurassic World film franchise, placing them in control of operations on the legendary islands of Isla Nublar and the surrounding islands of the Muertes Archipelago. Players will create and manage their own Jurassic World as they bioengineer new dinosaur breeds, and construct attractions, containment and research facilities. Every choice leads to a different path and spectacular challenges arise when 'life finds a way'.
www.jurassicworldevolutiongame.com