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Summary
- FDEV expects to launch Jurassic Park Evolution 2 on PC and Console in late 2021.
- It had forecasted FY21 revenue to remain approximately £91.0 million.
- FDEV anticipates FY22 revenue ranging from £130 million to £150 million.
Frontier Developments PLC (LON:FDEV) is the consumer stock listed on the London stock exchange. FDEV’s shares have generated a return of 26.40% in the last 12 months. Moreover, it is a constituent of the FTSE AIM UK 50 index.
Company Overview
Frontier Developments is the Cambridge-based leading video games developer and publisher. Moreover, it has three own -IP franchises -
- Elite Dangerous
- Planet Coaster
- Planet Zoo
Furthermore, FDEV has one licensed-IP franchise - Jurassic World Evolution
Recent Trading Update (for the twelve months ended 31 May 2021, as of 11 June 2021)
Announcement of Jurassic Park Evolution 2 – FDEV had announced the much-awaited sequel of the hugely popular franchise Jurassic Park Evolution. Moreover, it will be launched in late 2021 on PC and consoles like PlayStation®5, Xbox Series X|S, PlayStation®4 and Xbox One.
PC Launch of Elite Dangerous: Odyssey – The Company had launched Elite Dangerous: Odyssey on 19 May 2021. However, the expansion came across some connectivity problems during the initial days of its release due to several technical glitches, which took almost 36 hours for rectification. Furthermore, the Company also aims to launch a console version of this game later in 2021.
Top-line revenue expectations – FDEV expects FY21 unaudited revenue to remain approximately £91 million, driven by outstanding performance during H1 FY21 and strong trading witnessed during the festive December 2020 period. Moreover, this is the highest ever revenue achieved by the Company even without the launch of any major new franchise.
Impressive line ups for FY22 – Apart from big launches such as Elite Dangerous: Odyssey and Jurassic World Evolution 2, the Company would release three new titles from Frontier Foundry such as Lemnis Gate, releasing this summer and recently announced Warhammer: Chaos Gate – Daemonhunters, which would be scheduled to release in spring 2022.
One Year Chart
(Data Source: EODHD/Others)
FDEV shares were trading at GBX 2,289.00 and were down by around 12.97% as of 11 June 2021 at 01:42 PM GMT. The 14-day RSI stood at ~31.30, while the 20-day simple moving average was around GBX 2,628.95. FDEV’s 52-week Low and High were GBX 1,672.00 and GBX 3,470.00, respectively. The market capitalization of FDEV is approximately £1.03 billion.
Business Outlook
The Company expects FY22 revenue ranging from £130 million to £150 million boosted by an impressive pipeline of games scheduled for release in FY22. Furthermore, it anticipates much higher revenue ranging from £160 million to £180 million for FY23. The exclusive licences for F1 management games and a Warhammer: Age of Sigmar would support the revenue growth. In a nutshell, FDEV would continue to deliver solid results for all major game franchisee and achieve top-line business growth in the medium term.
