Team17 has released the its financial report for the first six months of 2024. The results are definitely positive, as it recorded a 11% growth in revenues, totalling £80.6m.
In general, for the six months ended June 30, 2024:
- Revenue: £80.6m, up 11% on the previous year.
- Gross profit: £32.9m, up 9% on the previous year.
According to the report, Team17 recorded growth across its business, including an 18% increase in EBITDA to £19.4m, up from £16.5m in 2023. It also recorded a 53% increase in gross operating profitwhich reached 12.4 million pounds, compared to 8.1 million the previous year.
Many successes
During the period indicated, Team17 released nine new games and three new apps, including Border Bots, Classified France ’44, Undead Inc and Autopsy Simulator. Hell Let Loose has also launched on Game Pass, following the acquisition of the intellectual property in 2022.
The company also noted that The new release market “has been challenging” during the first half of 20204, contributing “to the decision to make a combined impairment charge of £4.6 million across a small number of securities” due to be launched in 2024 and 2025.
Speaking of first-party studios, the German developer Astragon recorded a 13% increase in turnoverfor £18.5m, thanks to the strong performances of Construction Simulator and Police Simulator, which led to a 17% increase in first-party sales.
The study dedicated to educational games StoryToys recorded a 23% growth in revenuefor £10.9m, while active subscribers rose from over 310,000 in the first half of 2023 to over 350,000.
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