TIDMFDEV
RNS Number : 4059B
Frontier Developments PLC
10 January 2018
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 GBP19 million in the
period compared to GBP18.1 million for the six months to 30
November 2016 and GBP19.3 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
This information is provided by RNS
The company news service from the London Stock Exchange
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