Keywords Studios (LON:KWS) Andrew Day, CEO & David Broderick, CFO deliver the H1 19 results presentation to analysts with Q&A.

This opens with an upbeat (feel-good) trailer for Borderlands3. Then, Andrew gives an overview of top line financials and operational progress. David gives a comprehensive financial overview. Thereafter, Andrew runs through each service line, acquisition opportunities and the outlook.

A very upbeat story, in terms of growth of service lines, especially Functional Testing, Art Services and Game Development, only H2 growth in localisation & Audio Services are expected to be tempered by the switch to next-gen console development. H1 EBITDA margin hit by increased investment for growth demands, and one inherited lower margin contract. However, this should recover in H2 and return to historical (15%) levels in 2020. So, FY revenue anticipated at top end of expectations. Adj profit broadly in line.

Worth watching if you hold, or are interested in the video space.

Finish reading with a 14 day trial

or Unlock with your email

Already have an account?
Login here