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Keywords Studios PLC (LSE:KWS) released an interim trading statement on Monday, indicating a positive outlook for 2024 with expectations of substantial overall revenue growth. The statement highlights a 1.9% decline in organic revenues for the first half of the year, amounting to approximately £334.6 million. Despite this, the company's performance is anticipated to be stronger in the latter half of the year as the gaming industry recovers from slower content-creation trends.
Adjusted operating profit experienced a decrease of 9.6%, reaching £57.4 million, while operating margins aligned with the forecasted figure of 13%. This adjustment reflects the current market conditions and sets the stage for anticipated improvements in the second half of the year.
The announcement also coincides with Keywords Studios’ forthcoming transition to private ownership, following a £2.1 billion acquisition deal by the private equity firm EQT. Bertrand Bodson, CEO of Keywords Studios, commented on the transition as a significant new chapter for the company. He expressed gratitude towards the shareholders who have supported the company since its initial public offering on AIM in 2013, a period during which Keywords Studios saw substantial growth from €16 million in revenue to its current scale.
The acquisition is scheduled to be finalized on 23 October, with the company’s shares set to be delisted from AIM on 24 October. This move is expected to mark a transformative period for Keywords Studios, as it continues to evolve within the gaming industry.
