TIDMFDEV
RNS Number : 0436N
Frontier Developments PLC
15 January 2019
15 January 2019
Frontier Developments plc
Notice of Results and Trading update
Frontier Developments plc (AIM: FDEV, "Frontier", the
"Company"), a leading developer and publisher of video games based
in Cambridge, will report its interim financial results for the six
months ended 30 November 2018 on Wednesday 6 February 2019. There
will be a presentation to analysts at 9:30am on 6 February 2019 at
the offices of Liberum at Ropemaker Place, 25 Ropemaker Street,
London, EC2Y 9LY.
For the six months to 30 November 2018, the Board expects to
report record company financial results based on the successful
launch of Jurassic World Evolution in June 2018 and the ongoing
performance of Elite Dangerous and Planet Coaster, as Frontier
continues its strategy of building long term franchises delivering
multi-year revenues. Frontier expects to report revenue of
approximately GBP64 million for the period compared to GBP19
million recorded in the interim results last year.
Based on trading performance in the first six months of the
financial year, combined with sales over the Christmas holiday
period, the Board remain comfortable with the analyst revenue
projections of GBP75 million to GBP88 million for FY19 (the year
ending 31 May 2019) and anticipate that revenue should exceed the
mid-point of this range.
Jurassic World Evolution, which launched on PC, PlayStation 4
and Xbox One in June 2018 alongside the film release of Jurassic
World: Fallen Kingdom, has been Frontier's most successful launch
to date, achieving 1 million base game units within 5 weeks and has
now crossed the 2 million base game unit threshold, 7 months after
launch. It was both Frontier's first self-published game to launch
simultaneously on both PC and console platforms, and the first to
benefit from the awareness associated with a major film release. In
line with the Board's expectations, the majority of unit sales on
all three platforms (PC, PlayStation 4 and Xbox One) are from
digital sales, with physical disc sales on PlayStation 4 and Xbox
One also contributing. Frontier's strategy of establishing and
supporting a community of players has proved effective for Jurassic
World Evolution, with both free updates and paid downloadable
content (PDLC) helping to retain existing players and attract new
players.
Frontier's first two game franchises, Elite Dangerous (launched
December 2014) and Planet Coaster (November 2016) continue to
perform well, both supported by a strategy of ongoing development.
Planet Coaster has now sold over 2 million base game units since
launch, and Elite Dangerous has exceeded 3 million base game units.
Previously the Company has reported "franchise units" for Elite
Dangerous whereby the Elite Dangerous: Horizons expansion, sold at
the same price as the base game, was also counted as one unit. The
Company has now simplified unit reporting to state gross unit sales
of the base game only. For comparative purposes cumulative
franchise units for Elite Dangerous are now over 4.3 million.
The development of Frontier's fourth game franchise is on track,
with release targeted for FY20 (between 1 June 2019 and 31 May
2020).
David Braben, Chief Executive of Frontier, commented:
"We are very pleased with the success of Jurassic World
Evolution, which has been our biggest launch to date. Elite
Dangerous and Planet Coaster also continue to perform well, as our
strategy of supporting, nurturing and enhancing each of our game
franchises continues to deliver. I look forward to providing more
details about our fourth game franchise, as well as our existing
franchises, in the coming months."
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
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
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 video
game 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 video game consoles and
personal computers.
Frontier's LEI number: 213800B9LGPWUAZ9GX18.
www.frontier.co.uk
About Elite Dangerous
Elite Dangerous - available for Windows PC, 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 recreated 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 - available for Windows PC, Microsoft
Xbox One and Sony PlayStation 4 - evolves players' relationships
with the Jurassic World film franchise, placing them in control of
operations on the legendary island of Isla Nublar and the
surrounding islands of the Muertes Archipelago. Players 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.jurassicworldevolution.com
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END
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