Updates

Frontier Developments

December 2023

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Just one month after saying it was comfortable with £108m revenue consensus for the year, FDEV is lowering expectations. Initial sales of Warhammer: Realms of Ruin have disappointed. Full year sales expectations are being reset to between £80-95m. EBITDA of around -£9m remains achievable towards the upper end of revenue guidance due to last month’s reduction in costs. The weak sales are surprising given the Games Workshop Group (GAW; 10,720p) franchise is so strong; in fact, GAW has reported another record year of profits and Warhammer is its most significant property. Clearly those hobbyists who play on board games are not the same as those playing computer games. After two setbacks on F1 and now Realms, FDEV is reversing its strategy t ...

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Volex

Jet2

Frontier Developments - FY25 forecast upgraded by £6.8m (November 2023)

Frontier Developments (October 2023)

Frontier Developments - F1 Manager 23 launch date set: 31 July (July 2023)

Frontier Developments - Current year started 1 June set to see two big launches (June 2023)

Frontier Developments (March 2023)

Frontier Developments - F1 game set for 25 August launch (July 2022)

Frontier Developments (December 2021)

Frontier Developments (February 2021)

Frontier Developments (October 2020)

Frontier Developments (July 2020)

Frontier Developments - More people at home playing video games (April 2020)

Frontier Developments (February 2020)

Frontier Developments - Launch schedule unveiled (December 2019)

Frontier Developments - Sales to beat consensus by 7% (July 2019)

Frontier Developments - Record revenues and profits (May 2019)

Frontier Developments - Market awaits imminent fourth launch (April 2019)

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