Games Workshop Group Plc · LSE:GAW
Games Workshop — FY2021 Earnings Presentation
14 slides from Games Workshop's earnings presentation, 2021
Slide 1: Full year results 2020/21
GAMES WORKSHOP GROUP PLC Full year results 2020/21
Slide 2: Our strategy
Our strategy To make the best fantasy miniatures in the world, to engage and inspire our customers, and to sell our products globally at a profit. We intend to do this forever. Our decisions are focused on long-term success, not short-term gains.
Slide 3: Message from Kev
Message from Kev After a tough year, we are delighted that the Warhammer hobby and Games Workshop are in great shape; thanks to everyone involved and thanks to everyone that continues to keep us safe and well.
Slide 4: Key financials - year to May 2021
Key financials - year to 30 May 2021 Sales up 31% (+£83m) to £353m Gross margin up 6% to 73% Costs up £14m to £121m Royalties down £0.5m to £16m Profit before tax up £61m to £151m
Slide 5: Sales by Channel
Sales by Channel 250 +39% 200 150 Millions +70% 100 -9% 50 0 Trade Retail Online 2019-20 2020-21
Slide 6: Sales by Territory
Sales by Territory 160 +39% 140 120 100 +17% +26% 80 Millions 60 40 +62% +27% 20 0 UK Europe North America ANZ Rest of World 2019-20 2020-21
Slide 7: Core business operating profit %
Core business operating profit % (Excluding royalty income)) 40 38 35 30 29 27 27 25 20 % 20 15 10 5 0 2017 2018 2019 2020 2021
Slide 8: Return on capital %
Return on capital % (pre licensing income)) 200 184 180 160 140 120 120 100 94 % 100 80 72 60 40 20 0 2017 2018 2019 2020 2021
Slide 9: Costs
Costs Costs up £14.1m: Central costs up £4.0m Web store running costs up £1.9m Retail costs down £5.1m Investment in licensing £0.4m Profit share, discretionary payments and bonuses up £12.6m
Slide 10: Cash
Cash In the 12 months our cash increased by £93.4m, before dividends This is after capital investments of £20.3m Dividends paid in the year of £60.5m (185p per share) Net cash balance of £85.2m at end of May 2021
Slide 11: Digital content
Digital content - Delivered engaging and inspiring content to support the global community whilst the world has been in lockdown. - Hosted events and streamed seminars to take the place of physical events and Warhammer gatherings. - Warhammer+, our new subscription offer is in its final tests and re
Slide 12: Licensing
Licensing Large franchise games have been announced in the next 12 months: • Warhammer 40,000: Darktide • Total War: Warhammer 3 • Total War Battles: Warhammer This year the majority of the video game income came from the ongoing success of existing titles compared to the prior year which had more d
Slide 13: Investments 2020-21
Investments 2020-21 9 new stores and some refit work (£0.7m) Investment in IT systems and hardware (£3.0m) – includes work on new ERP (£1.1m) Investment in key equipment in the factory (£2.8m) Investment in tooling (£4.7m) Investment in additional capacity (£8.3m) – includes Leenside (£1.5m), land f
Slide 14: Investments 2021-22
Investments 2021-22 Investment in additional capacity in warehouse facilities in Nottingham Investment in core IT systems - ERP Continued investment in key equipment in the factory Investment in new webstore 9