Notice of Results and Trading updateSource: RNS
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 2019 on Wednesday 5 February 2020. There will be a presentation to analysts at 9:30am on 5 February 2020 at the offices of Liberum at Ropemaker Place, 25 Ropemaker Street, London, EC2Y 9LY.
For the six months to 30 November 2019 (H1 FY20) Frontier recorded total revenue of £32.0 million, compared to £25.0 million recorded for the preceding half-year period (H2 FY19, the six months ended 31 May 2019) and £64.7 million for H1 FY19 (the six months ended 30 November 2018). Revenue in H1 FY20 included just 26 days of sales from Planet Zoo, which launched on 5 November 2019, plus pre-order sales recognised at launch.
All four of Frontier's game franchises performed well, as expected, over the Christmas period. The Board continues to expect sales for the full financial year (ending 31 May 2020) to be within the range of analyst projections of £65 million to £73 million.
Planet Zoo launches successfully
In November 2019 Frontier added a fourth franchise to its portfolio with the successful launch of Planet Zoo, which benefitted from a highly successful pre-launch marketing strategy. The base game and the deluxe product achieved the global number one and number two bestseller spots on Steam both prior to, and after, release on 5 November 2019. Planet Zoo achieved a day one PC launch record for Frontier, having sold more PC units by the end of day one, including pre-order sales, than any of Frontier's previous launches.
Following its successful release, sales of Planet Zoo continue to be strong. To date Planet Zoo has sold the most units on PC of any of our games during an equivalent time period, crossing 500,000 units in early December. As expected Planet Zoo performed well over the important Christmas period, with free updates, paid downloadable content (the Arctic Pack released on 17 December), price promotions and active community support proving to be an effective combination. As a result, Planet Zoo featured in Steam's top 12 best-selling new releases of 2019, despite only launching in November.
Creating and nurturing a portfolio
Frontier has now achieved four (out of four) successful game franchise launches since floating in 2013, with Elite Dangerous (December 2014), Planet Coaster (November 2016), Jurassic World Evolution (June 2018) and Planet Zoo (November 2019). All four titles continue to perform well, supported by Frontier's strategy of evolving gameplay, free and paid content, price promotions and active community management. Frontier intends to continue to nurture and grow its portfolio, supporting existing franchises whilst investing in new internally developed games, together with third party titles from carefully selected development partners under its Frontier Publishing initiative.
David Braben, Chief Executive of Frontier, commented:
"We are pleased with the successful launch of Planet Zoo and the continuing performance of Elite Dangerous, Planet Coaster and Jurassic World Evolution.
It is great to see how many players have actively engaged with Planet Zoo - sharing their intricately constructed habitats and the animals they have nurtured. I believe Planet Zoo has already become the genre defining zoo simulation, just as Planet Coaster is the leader in coaster park simulations."
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
Jefferies - Joint Broker +44 (0)20 7029 8000
Max Jones / William Brown
Tulchan Communications +44 (0)20 7353 4200
Matt Low / Deborah Roney / James Macey White
About Frontier Developments plc
Frontier is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the iconic Elite game. Based in Cambridge, Frontier uses its proprietary 'COBRA' game development technology to create innovative games, currently focusing on videogame consoles and personal computers.
Frontier's LEI number: 213800B9LGPWUAZ9GX18.
About Planet Zoo
Simulation Runs Wild in Planet Zoo. From the developers of Jurassic World Evolution (2018), Planet Coaster (2016) and Zoo Tycoon (2013) comes the ultimate zoo sim, where players can let their imagination run wild, with authentic living animals who think, feel and explore the world around them. Planet Zoo allows players to experience a globe-trotting campaign, create unique habitats and vast landscapes, make big decisions and meaningful choices, and nurture their animals as they construct and manage a truly modern zoo where animal welfare and conservation comes first.
About Jurassic World Evolution
Jurassic World Evolution places players in charge of operations on the legendary Isla Nublar and the surrounding islands of the Muertes Archipelago. Players can construct attractions, containment and research facilities as they build their own Jurassic World. They can bioengineer new dinosaur species that think, feel and react intelligently to the world around them, and they can choose to control the big picture with deep, accessible management options or go hands-on to confront challenges on the ground or in the air in action-based gameplay. Every choice leads to a different path, and spectacular challenges arise when "life finds a way."
About Planet Coaster
Create. Manage. Share. Be inspired and inspire others as you create, manage and share the world's greatest coaster parks with friends and content creators around the world. Surprise, delight and thrill your guests as you build your coaster park empire, and let your imagination run wild with the future of coaster park simulation games.
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.
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