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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 £64 million for the period compared to £19 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 £75 million to £88 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.
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
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.
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.
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.
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'.
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