Trading Update and Change of Company Name
23/01/2025 07:00
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RNS Number : 3600U Team17 Group PLC 23 January 2025
23 January 2025
Team17 Group plc
("Group" or the "Company")
Trading Update
and
Change of Company Name to everplay group plc and TIDM to EVPL
Team17 Group plc, a leading global independent ("indie") games developer and
publisher of premium video games, working simulation games and children's
edutainment apps, today provides a trading update for the twelve months
ended 31 December 2024 ("FY 2024" or the "year") alongside announcing the
rebrand of the Company to everplay group plc.
Trading update
The Group continued to trade well in H2 2024, driven by an improved
performance from new releases and another excellent performance in the back
catalogue across the Group. Trading over the Christmas period was strong, and
we have seen this encouraging momentum continuing into January.
As a result, we expect to deliver FY 2024 revenues and adjusted EBITDA
slightly ahead of market expectations. The Group expects to report its results
for the year in March 2025 when we look forward to providing further insight
into the Group's operational and financial performance, exciting schedule of
new releases and future strategic plans.
Change of company name to everplay group plc
Today we are delighted to share the rebranding of the Group, reflecting the
evolution of the business following its IPO in 2018. The Group now comprises
three distinct divisions operating across complementary markets within the
video games and apps industry. everplay provides the Group with a name that
reflects its purpose to never stop playing, as well as its creative drive to
deliver a lifetime of play. The change enables Team17, StoryToys and astragon
to continue to operate under their highly distinctive brand identities whilst
maximising operational synergies and cross-selling opportunities across the
wider group and avoiding any confusion between the Group and the Team17
division.
To view a short presentation from Steve Bell, Group CEO, providing further
insights into the renaming of the Group, visit our new website -
www.everplaygroupplc.com (http://www.everplaygroupplc.com/investors)
As previously outlined, the Group's strategic focus is to accelerate growth
alongside improving profitability and return on investment. To that end, the
Group continues to focus on the wealth of opportunities in the indie,
childrens and working simulation markets by launching exceptional new games.
At the same time, we focus on driving back catalogue sales by prioritising our
portfolio and evergreen franchises, while adopting innovative publishing and
marketing models to maximise discoverability and appeal in the marketplace.
Trading in the Company's shares under a new TIDM(1), "EVPL", will commence at
8.00 a.m. on Friday 24 January 2025. The change of name is expected to take
effect in early February.
The Group's AIM Rule 26 website is available at www.everplaygroupplc.com
(http://www.everplaygroupplc.com) . Shareholdings will be unaffected by the
change of name and existing share certificates should be retained as they will
remain valid for all purposes. The Company confirms that there is no change to
the Company's ISIN(2).
Steve Bell, Chief Executive Officer of everplay group plc (formerly Team17
Group plc), commented:
"I am delighted with the strong end to the year's trading, and the momentum
into 2025, which is further evidence of the success of our refocused strategic
initiatives. I am grateful for the dedication of all our employees, whose
continuing hard work has helped grow our revenues in 2024 to another all-time
high. I look forward to sharing greater insight into our exciting plans for
2025 at the full year results in March.
"I am also excited to be unveiling our new Group brand today, which we believe
better represents our business which has evolved greatly since the IPO and
reflects our DNA to never stop playing. This rebrand not only creates an ideal
backdrop to foster greater cross-collaboration internally, but also reflects
our aspirations to expand our reach across complementary sectors within the
broader indie market.
"Fundamentally, we want to create pioneering and captivating experiences that
enrich and inspire players around the world, and I firmly believe everplay
will become synonymous with creating games that deliver a lifetime of play."
(1)Tradable Instrument Display Mnemonic
(2)International Securities Identification Number
Enquiries:
everplay group plc ir@e (mailto:ir@everplaygroupplc.com) verplaygroupplc.
(mailto:ir@everplaygroupplc.com) com (mailto:ir@everplaygroupplc.com)
Steve Bell, Chief Executive Officer
Rashid Varachia, Chief Financial Officer and Chief Operating Officer
James Targett, Group Investor Relations Director
Peel Hunt (Nominated Advisor and Joint Corporate Broker) +44 (0)20 7418 8900
Neil Patel / Benjamin Cryer / Kate Bannatyne
Jefferies International Limited (Joint Corporate Broker) +44 (0)20 7029 8000
Philip Noblet / Will Brown / Shaam Vora
Vigo Consulting (Financial Public Relations) +44 (0)20 7390 0233
Jeremy Garcia / Fiona Hetherington / Anna Stacey
everplay@vigoconsulting.com (mailto:everplaygroup@vigoconsulting.com)
About everplay group plc
everplay group plc (formerly Team17 Group plc) is an award winning and
leading global indie games label developer and publisher of premium video
games and apps, comprising three distinct divisions: Team17, astragon and
StoryToys. Team17 is a games developer, publisher and creative partner for
indie developers around the world, known for iconic IP such as Hell Let Loose,
Worms and Overcooked!. astragon is a leading games publisher, developer and
distributor of sophisticated working simulation games, including Construction
Simulator and Police Simulator, targeting a broad audience from young
enthusiasts to technical experts and casual gamers. Story Toys a world-class
developer and publisher of educational entertainment apps, bringing the
world's most popular characters, worlds and stories to life for children under
the age of eight, with apps including Disney Colouring World and LEGO®
DUPLO® PEPPA PIG
Visit www.everplaygroupplc.com (http://www.everplaygroupplc.com) for more
information.
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