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10 Jan 2020 07:00
10 January 2020
Team17 Group plc
("Team17", the "Group" or the "Company")
Trading update
Team17, a global games label, creative partner and developer of independent ("indie") premium video games, provides the following trading update for the year ended 31 December 2019.
The Company is pleased to report its growing portfolio has continued to perform well over the peak Christmas sales period with a specifically strong performance from the Company's multiplayer games on Nintendo Switch.
As a result, management now expects both adjusted EBITDA and revenue to be ahead of market expectations for the year ended 31 December 2019.
Furthermore, the Company continues to develop a solid portfolio of new original game IP launches in 2020, representing more than any previous year.
The Group's current pipeline for 2020 includes: Moving Out (SMG-Australia), Hammerting (Warpzone-Sweden), Neon Abyss (Veewo-China), Going Under (Aggro Crab-America), Rogue Heroes: Ruins of Talos (Heliocentric-America), Main Assembly (Bad Yolk Games-Sweden), The Survivalists (Team17-UK) and Golf with Your Friends on Console (Team17/Blacklight Interactive- UK/Australia).
Additional titles will be announced during 2020.
The Company will report its full year results for the year ended 31 December 2019 on 10 March 2020.
Enquiries:
Team17 Group plc Debbie Bestwick MBE, Chief Executive Officer Mark Crawford, Interim Chief Financial Officer
| via Vigo Communications
|
GCA Altium (Nominated Adviser) Adrian Reed / Paul Lines
| +44 (0)845 505 4343 |
Berenberg (Broker) Chris Bowman / Marie Stolberg / Alix Mecklenburg-Solodkoff
| +44 (0)20 3207 7800 |
Vigo Communications (Financial Public Relations) Jeremy Garcia / Fiona Henson / Charlie Neish team17@vigocomms.com | +44 (0)20 7390 0233 |
About Team17
Founded in 1990, Team17 Group plc is a leading international premium video games label and creative partner for independent developers. The portfolio comprises over 100 games, including The Escapists, Genesis Alpha One, My Time at Portia, Overcooked, Yoku's Island Express, Yooka-Laylee, the Worms franchise and many more from developers around the world. Visit www.team17.com for more info.
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