Frontier Developments PLC

Frontier Developments PLC (LSE: FDEV) is an FTSE AIM All-Share listed entity, engaged in developing non-game applications and video games for the entertainment sector. The Company's segments include self-published and external publishers. The self-published segment is engaged in sales of the game and digital in-game.

Full Year Trading Update (FY23 Trading Update, released on 14 June 2023)

• Improved Revenue (Unaudited): The company reported an unaudited revenue of approx. GBP 104 mn which was in line with the previous estimates. The noticeable performance from the existing portfolio of games saw an increase of 72% in revenue whereas Jurassic World Evolution2 was acknowledged as the key performer in the reported period.
• Profitability: The adjusted EBITDA was per the expectations, whereas the unaudited adjusted EBITDA represents a loss of GBP 5 mn which is an investment in future games and future releases from FY24 onwards. The operating profit before one-off amortization adjustments was a profit of GBP 2 mn, as per the estimates.
• Outlook: The management is optimistic as FY24 most probably benefits from the two new fresh releases: F1 Mnaager 2023 and Warhammer Age of Sigmar: Realms of Ruin. The total revenue is expected to be close to GBP 108 mn whereas the adjusted EBITDA loss is estimated to be between GBP 5 mn and GBP 10 mn in FY24.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Frontier Developments PLC (LSE: FDEV) was trading at the current market price of GBX 521.00 (as of 15 June 2023, 08:27 AM GMT+1).  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 15 June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice..’

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