Keywords Studios PLC Trading Update (2949G)
24 Novembre 2020 - 08:00AM
UK Regulatory
TIDMKWS
RNS Number : 2949G
Keywords Studios PLC
24 November 2020
24 November 2020
Keywords Studios plc ("Keywords", "the Group")
Trading Update
Stronger than expected performance despite COVID-19
constraints
Keywords Studios announces today that it expects to deliver a
full year adjusted profit before tax* significantly ahead of the
current market consensus as a result of continued strong trading
since the half year results announcement in September 2020.
Revenue for the year to 31 December is expected to be in line
with company compiled consensus of EUR367m (2019: EUR326.5m),
reflecting robust demand for the Group's services despite
previously stated COVID-19 production constraints.
Adjusted profit before tax* is now expected to be significantly
ahead of the company compiled consensus of EUR46m, at approximately
EUR52m (2019: EUR40.9m). This reflects good underlying margin
improvement, despite the revenue constraints noted above, driven by
operational leverage and good cost control, together with a
reduction in certain costs due to COVID-19, such as travel.
There will be a trading update from Keywords in late January
2021, with full year results expected to be published in March
2021.
Andrew Day, CEO, commented:
"We are pleased the Group is delivering such a robust
performance, with continued organic growth and underlying margin
improvement, despite the production constraints in some parts of
the business."
* Adjusted profit before tax comprises Profit before taxation as
reported in the Consolidated statement of comprehensive income,
adjusted for costs including share option expense, costs of
acquisitions and integration, amortisation of intangible assets,
non-controlling interest, foreign exchange gains and losses, and
unwinding of discounted liabilities. In order to present the
measure consistently year-on-year, the impact of COVID-19
government subsidies claimed is also excluded.
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Andrew Day, Chief Executive Officer
Jon Hauck, Chief Financial Officer
Joseph Quinn, Investor Relations +353 190 22 730
Numis Securities
Stuart Skinner/Kevin Cruickshank/Will
Baunton 020 7260 1000
MHP Communications (Financial PR) 020 3128 8193
Katie Hunt/James Midmer/Charles keywords@mhpc.com
Hirst
About Keywords Studios ( www.keywordsstudios.com )
Keywords Studios is an international technical services provider
to the global video games industry. Established in 1998, and now
with 62 facilities in 21 countries strategically located in Asia,
the Americas and Europe, it provides integrated art creation,
marketing services, software engineering, testing, localization,
audio and customer care services across more than 50 languages and
16 games platforms to a blue-chip client base of over 950 clients
across the globe.
Keywords Studios has a strong market position, providing
services to 23 of the top 25 most prominent games companies,
including Activision Blizzard, Bandai Namco, Bethesda, Electronic
Arts, Konami, Microsoft, Riot Games, Square Enix, Supercell,
TakeTwo, Epic Games and Ubisoft. Recent titles worked on include
Call of Duty: Modern Warfare, Anthem, Star Wars Jedi: Fallen Order,
Assassin's Creed Odyssey, Valorant, League of Legends, Fortnite,
Clash Royale and Doom Eternal. Keywords Studios is listed on AIM,
the London Stock Exchange regulated market (KWS.L).
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END
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