Business
Trading Update - Record annual revenue, 26% growth
Trading Update - Record annual revenue, 26% growth.
About this update from Frontier Developments Plc
[{"type":"text","content":"\n \n \n 14 June 2022\n \n \n \n Frontier Developments plc\n \n \n Trading Update\n \n \n Strong second half and record annual revenue (26% growth)\n \n \n Frontier Developments plc (AIM: FDEV, \"Frontier\" or the \"Company\"), a leading developer and publisher of videogames based in Cambridge, UK\n , \n provides an update on trading for financial year FY22, the 12 months ended 31 May 2022.\n \n \n Headlines\n \n \n ·\n Record revenue (unaudited\n ) of £114 million in FY22, an increase of 26% on the previous year\n \n \n ·\n \n Jurassic World Evolution 2\n \n base game unit sales exceeded 1.3 million units\n \n \n ·\n \n Warhammer 40,000: Chaos Gate - Daemonhunters\n \n performing ahead of expectations\n \n \n ·\n FY22 cash profit (adjusted EBITDA*) in line with expectations (subject to audit)\n \n \n ·\n Accounting profit (IFRS operating profit) reduced by a one-off amortisation charge\n \n \n ·\n FY23 releases to include Jurassic World Evolution 2: Dominion Biosyn Expansion\n and\n \n F1® Manager 2022\n \n in June and August 2022 respectively, plus three new Foundry titles\n \n \n * Earnings before interest, tax, depreciation, amortisation charges related to game developments and Frontier's game technology, less investments in game developments and Frontier's game technology, and excluding share based payment charges and other non-cash items\n \n \n \n FY22 revenue\n \n \n \n Building on the growth achieved in the first half of the financial year and a monthly sales record in December 2021, a strong trading performance in the period 1 January to 31 May 2022 helped to deliver record annual revenue of approximately £114 million in FY22. This unaudited result is 26% above the previous record of £90.7 million, achieved in FY21.\n \n \n \n Jurassic World Evolution 2\n \n \n \n FY22 benefitted from the release of another successful new Frontier title, Jurassic World Evolution 2, which has continued to attract an expanding player base since its launch in November 2021. By 31 May 2022 Jurassic World Evolution 2 had achieved over 1.3 million base game units sold across all platforms and formats, excluding base game digital downloads through Microsoft's Game Pass subscription service, through which the base game became available on 17 May 2022.\n \n \n The development and release of paid-downloadable content ('PDLC') and free...