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Pin to quick picksFrontier Dev Regulatory News (FDEV)

Share Price Information for Frontier Dev (FDEV)

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Trading Update

16 Jan 2017 07:00

RNS Number : 1723U
Frontier Developments PLC
16 January 2017
 

16 January 2017

Frontier Developments plc

 

Trading Update

 

Transition complete; well positioned for next phase of growth

 

Frontier Developments plc (AIM: FDEV, "Frontier", the "Group"), a leading developer of video games, announces the following trading update.

 

Frontier's strategic objective has been to self-publish multiple video game franchises. We achieved this objective in November 2016 with the successful launch of our second franchise, Planet Coaster. The launch received a positive reception from gamers and reviewers and by the end of December over 0.5 million paid units had been sold. We have a strong programme of updates in place for Planet Coaster which will be released through 2017 and beyond.

 

The Group's Elite Dangerous franchise continues to perform well. By the end of December 2016 a total of over 2.1 million paid franchise units had been sold. Elite Dangerous: Horizons, the season of expansions for this successful franchise, was released on Xbox One in June. The Group also continued to deliver Horizons for PC and Xbox One by launching 'The Guardians 'in October.

 

Revenue for the six months ended 30 November 2016 was approximately £18.1m, an increase of 66% when compared to the first half of last year. We expect to report EBITDA for the period of approximately £5.7m. Whilst the US dollar has strengthened against Sterling over the period any benefit has been offset by realised and fair value losses from historical currency hedges.

 

Sales in December were in line with the Board's expectations. Although the state of the market after the festive season remains to be seen, the strong first-half revenues, which exceeded the Board's expectations, mean it is confident about meeting its expectations for the Financial Year.

 

Given the strong progress exhibited by these results and the Company's confidence in its future prospects, the Company has continued to increase its investment in development and other business activities.

 

The Group's balance sheet remains strong and at 30 November 2016 the Group had net cash of £6.7m. The Group is in a good financial position to support its continuing investment plans going forwards.

 

Frontier expects to report its unaudited interim results in early February 2017.

 

David Braben, Chief Executive of Frontier Developments, said:

 

"I am delighted that, as planned, Frontier is now self-publishing multiple franchises, marking the end of its business model transition and the beginning of a new phase of growth.

Both our released franchises are doing well, with cumulative Elite Dangerous franchise sales of over 2.1m units and over 0.5m units for Planet Coaster. We are now working to further the success of our existing franchises and create additional ones."

 

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.

 

Enquiries:

Frontier Developments

+44 (0)1223 394 300

David Braben, CEO

David Walsh, COO

Numis - Nomad and Joint Broker

+44 (0)20 7260 1000

Simon Willis / Jamie Lillywhite (Nomad) / Toby Adcock

Finncap

+44 (0) 207 220 0500

Matt Goode / Giles Rolls

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 game developer 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 across videogame consoles, computers, smartphones and tablets.

www.frontier.co.uk

 

About Elite Dangerous 

Elite Dangerous - available for Windows PC, Apple Macintosh, Microsoft Xbox One and coming to Sony Playstation 4 in 2Q 2017 - 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

 

Important Note

The information contained in this announcement about the franchise sales of Elite Dangerous and Planet Coaster relates solely to these games and does not constitute a profit estimate or profit forecast in respect of the Group or any guidance as to the likely profits of the Group.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTBJMATMBJBBAR
Date   Source Headline
29th Feb 20241:51 pmRNSHolding(s) in Company
26th Feb 20244:05 pmRNSBlock Listing Return
17th Jan 20247:00 amRNSFY24 Interim Results
11th Jan 202411:42 amRNSNotice of Results
19th Dec 202311:03 amRNSDirector Dealings
15th Dec 20233:00 pmRNSDirector Dealings
14th Dec 20234:26 pmRNSDirector Dealings
27th Nov 20237:00 amRNSBusiness Update
9th Nov 20232:15 pmRNSHolding(s) in Company
6th Nov 20232:14 pmRNSHolding(s) in Company
1st Nov 20234:20 pmRNSResult of AGM
19th Oct 202311:29 amRNSHolding(s) in Company
17th Oct 20237:00 amRNSOrganisational Review and Trading Update
9th Oct 20237:00 amRNSShare Options and Director/PDMR Dealings
28th Sep 20237:00 amRNSAnnual Report and Notice of AGM
13th Sep 20237:00 amRNSFY23 Financial Results
7th Sep 20239:37 amRNSNotice of FY23 Financial Results
29th Aug 20238:55 amRNSBlock Listing Return
18th Aug 20234:15 pmRNSHolding(s) in Company
14th Jun 20237:00 amRNSFull year trading update & Frontier Foundry review
8th Jun 20237:00 amRNSNotice of Trading Update
30th May 20237:00 amRNSNon-Executive Director Changes
26th May 202312:38 pmRNSEBT Share Purchase
26th May 202310:06 amRNSExercise of Warrants and Total Voting Rights
26th May 20237:00 amRNSBroker Appointment and Change of Nominated Adviser
22nd May 202312:02 pmRNSEBT Share Purchase
15th May 202311:35 amRNSEBT Share Purchase
9th May 202311:10 amRNSEBT Share Purchase
2nd May 20232:09 pmRNSEBT Share Purchase
21st Mar 20238:35 amRNSHolding(s) in Company
20th Mar 20239:30 amRNSOption Grants/PDMR Shareholding
27th Feb 20239:19 amRNSBlock Listing Return
6th Feb 20234:33 pmRNSHolding(s) in Company
25th Jan 20231:56 pmRNSDirector/PDMR Shareholding
23rd Jan 20233:52 pmRNSDirector/PDMR Shareholding
19th Jan 20237:00 amRNSFY23 Interim Results
9th Jan 20237:00 amRNSTrading Update and Notice of Results
1st Dec 20227:00 amRNSBoard Changes
18th Nov 20222:08 pmRNSDirector/PDMR Shareholding
14th Nov 202210:29 amRNSDirector/PDMR Shareholding
9th Nov 20227:00 amRNSResult of AGM
7th Nov 20227:00 amRNSOption grants / PDMR Dealings
2nd Nov 20227:00 amRNSAcquisition of Complex Games Inc
28th Oct 20222:47 pmRNSBlock Listing Return
10th Oct 20227:00 amRNSAnnual Report and Notice of AGM
5th Oct 20227:00 amRNSShare Options and Director/PDMR Dealings
21st Sep 20227:00 amRNSFY22 Results – a thriving and expanding portfolio
26th Aug 20227:00 amRNSGamescom announcements
10th Aug 20227:00 amRNSBoard Changes and Notice of Results
14th Jun 20227:00 amRNSTrading Update - Record annual revenue, 26% growth

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