25 January 2024
Team17
Group plc
("Team17", the "Group" or the "Company")
Trading
Update
Team17 Group plc, a global games label, creative partner,
developer and publisher of independent ("indie") premium video
games, educational entertainment ("edutainment") apps for children
and working simulation games,
provides the following trading update for the twelve months
ended 31 December 2023 ("FY 2023"
or the "Period").
All parts of the Group performed
well over the key Black Friday and festive trading periods, in
particular Team17 Games Label. As a result, as communicated in
November, management continues to expect FY 2023 adjusted EBITDA to
be at least £28.5m, which includes non-cash title impairments of up
to £11.5m recognised in the Period.
Linked to the earlier Easter holiday
dates this year, the Group expects to report results for FY 2023 on
Tuesday 9 April, at which time management will provide additional
insight into the Group's plans for 2024 and its broader strategic
outlook.
Steve Bell, CEO of Team17,
said:
"Having joined the business in
September 2023, I am delighted to now formally take over as Group
CEO, having spent the last four months fully immersing myself
across the Group, with our people, portfolio of games and
developers.
"I am pleased with how FY 2023
trading closed, finishing the year with positive momentum across
the portfolio. I am extremely excited about the prospects for the
Group in 2024 and beyond."
Enquiries:
|
Team17 Group
plc
Steve Bell, Chief Executive Officer
Mark Crawford, Chief Financial
Officer
James Targett, Group Investor Relations
Director
|
ir@team17.com
|
|
Houlihan Lokey
UK Limited (Nominated Adviser)
Adrian Reed / Tim Richardson
|
+44 (0)20 7839 3355
|
|
Berenberg (Joint
Corporate Broker)
Toby Flaux / Ben Wright
/ Marie
Moy / Alix Mecklenburg-Solodkoff
|
+44 (0)20 3207 7800
|
|
Peel
Hunt (Joint Corporate Broker)
Neil Patel / Paul Gillam / Kate
Bannatyne
|
+44 (0)20 7418 8900
|
|
Vigo
Consulting (Financial Public
Relations)
Jeremy Garcia / Fiona Hetherington /
Aisling Fitzgerald
team17@vigoconsulting.com
|
+44 (0)20 7390 0233
|
About
Team17
Team17 Group plc is a
global provider of games entertainment to a broad audience. The
Group now includes a games entertainment label and creative partner
for indie developers, a leading developer of educational apps,
targeting children under the age of eight, and a leading working
simulation games developer and publisher.
Visit www.team17.com for more
info.