Team17 Group PLC ( (TSVNF) ) has released its Q4 earnings. Here is a breakdown of the information Team17 Group PLC presented to its investors.
Everplay Group PLC, formerly known as Team17 Group PLC, is a prominent global independent games developer and publisher, specializing in premium video games, working simulation games, and children’s educational entertainment apps. The company operates through three divisions: Team17, astragon, and StoryToys, each catering to different segments of the gaming and app industry.
In its unaudited final results for the year ended December 31, 2024, Everplay Group PLC reported a significant rebound in profitability and margins, with a 5% increase in revenue to £166.6 million and a 21% rise in gross profit to £69.4 million. The company also proposed its maiden final dividend, reflecting its strong financial performance and strategic progress.
Key financial highlights include a 46% increase in adjusted EBITDA to £43.5 million, a substantial improvement in operating profit to £24.0 million from zero in the previous year, and a 47% increase in cash and cash equivalents to £62.9 million. The company also achieved double-digit growth in first-party IP revenues and strong performance from its back catalogue, with notable contributions from titles like Hell Let Loose and Construction Simulator.
Looking ahead, Everplay Group PLC is poised for continued growth in FY 2025, with a robust pipeline of new game releases and strategic initiatives aimed at accelerating growth and improving profitability. The company remains confident in its ability to deliver improved trading performance, supported by its strong balance sheet and strategic focus on first-party IP and evergreen franchises.