Team17 Group plc, a global games label, creative partner, developer and publisher of premium indie video games, edutainment apps and working simulation games has reported above expectations results for 2022.
The Wakefield-based company noted in today’s trading update that the year saw multiple new first and third-party games released, extended games distribution to wider platforms and strong support across the portfolios with additional new content updates.
Its added that its adjusted EBITDA for FY 2022 will be significantly ahead of market expectations, and show strong growth compared with FY 2021, benefitting from the performance of a stronger, broader portfolio supported by the acquisitions and investment in people made over the last two years, and despite the fact that it remains “mindful” of the cost-of-living crisis and the impact of global economic trends.
CEO Debbie Bestwick, MBE, said: “2022 was a well-executed year delivering on our highly ambitious plans for the group, specifically strong lifecycle management across a very diverse portfolio and on time delivery of astragon first party IPs launched in 2022.
“There will always be more work to do as a growth business, but last year’s performance is a testament to the significant investment that has been made over the last two years in people, diversifying portfolios and successful M&A, all of which put the group in a very robust position for the future.
“We look forward to 2023 with an exciting pipeline of releases and updates as well as ongoing ROI from the investments we have made in people and products.”
The group expects to report its full year results for FY 2022 in March, and “looks forward to providing further insight into the Group’s plans for 2023 at that time.”