Team17 Group PLC Pre-close Trading Update (5390C)
18 June 2019 - 4:00PM
UK Regulatory
TIDMTM17
RNS Number : 5390C
Team17 Group PLC
18 June 2019
18 June 2019
Team17 Group plc
("Team17", the "Group" or the "Company")
Pre-close trading update
Team17, a global games label, creative partner and developer of
independent ("indie") premium video games, provides the following
trading update ahead of announcing its first half results which it
expects to release in September 2019.
The Company has continued to experience strong customer traction
from both new and established games since the start of the year and
now expects both adjusted EBITDA and revenue to be ahead of market
expectations for the current year.
The strong first half performance has been driven by continued
sales momentum across the back catalogue, a solid performance
across an array of new release titles along with the recognition of
a higher proportion of revenues relating to license income.
The Company has had a busy release schedule in the first half
and launched a number of new titles, including the multi-platform
release of My Time at Portia along with Hell Let Loose which
launched in Early Access on Steam earlier this month. In addition,
the Company has released new downloadable content for a number of
titles, including The Escapists 2 and Overcooked 2.
The Company has also announced several new partnerships
including a partnership with Blacklight Interactive in February,
for the popular Golf with Your Friends! game, a partnership with
Hermes Interactive for the indie kitchen puzzle game, Automachef,
which is intended for launch on Nintendo Switch and Steam this
summer, the second title from Playtonic Games, Yooka-Laylee and the
Impossible Lair, and a partnership with The Game Kitchen for the
metroidvana 2-D action platformer game Blasphemous, both to be
launched in 2019.
Recognition of the quality of the Company's games continued into
2019, with Yoku's Island Express being awarded the BAFTA for Best
Debut Game in April 2019.
Enquiries:
Team17 Group plc via Vigo Communications
Debbie Bestwick MBE, Chief Executive Officer
Jo Jones, Chief Financial Officer
GCA Altium (Nominated Adviser)
Adrian Reed / Paul Lines +44 (0)845 505 4343
Berenberg (Broker)
Chris Bowman / Toby Flaux / Marie-Agnes Stolberg +44 (0)20 3207 7800
Vigo Communications (Financial Public Relations)
Jeremy Garcia / Fiona Henson / Charlie Neish
team17@vigocomms.com +44 (0)20 7390 0238
About Team17
Founded in 1990, Team17 Group plc is a leading international
premium video games label and creative partner for independent
developers. The portfolio comprises over 100 games, including The
Escapists, Genesis Alpha One, My Time at Portia, Overcooked, Yoku's
Island Express, Yooka-Laylee, the Worms franchise and many more
from developers around the world. Visit www.team17.com for more
info.
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END
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