Company
LON:KWS
Keywords Studios PLC is an international technical and creative services provider to the global video games industry. Established in 1998, and now with over 70 facilities in 26 countries strategically located in Asia, Australia, the Americas and Europe, it provides services across the entire content development life cycle through its Create, Globalize and Engage service lines to a large blue-chip client base across the globe. Keywords Studios has a strong market position, providing services to 24 of the top 25 most prominent games companies.
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The City broker's analysts noted that Keyword Studios saw strong H1 organic growth continue into H2, meaning FY22 revenue and adjusted operating profit will be materially ahead of consensus
Shore Capital also expects Keyword to continue to invest in the business as previously set out by management
The company also said it is "confident in achieving a performance at the upper end of the current analysts' forecast range for 2023”
The appointment re-establishes Hauck’s COO role and will support the long-term growth and strategic priorities of the business, Keywords said
Purchase for C$16mln follows raft of acquisitions for AIM-listed video game services provider
Transitional shift a winning strategy for video games services provider
Pre-tax profits rose around 36% on revenues that were up 34%
Shore Capital noted that KWS is the market leader by over 3 times versus its closest peer
The acquisition is part of its strategy to become the 'go to' technical and creative services platform in video gaming
“Trading in the first quarter has started well with strong demand across all of the service lines," Shore Cap analyst Katie Cousins said in a note.
Keywords provides services to 23 of the top 25 most prominent games companies, including Activision Blizzard, Electronic Arts, Konami, Riot Games, Sony and TakeTwo
Sonia Lashand Sedler leaves the company for "personal reasons"
"As the video games industry continues to grow, the expectations of quality and features also increase and therefore we would expect outsourcing to be in greater demand, which we see as good news for KWS," the analyst said
"The group has delivered strong organic growth, driven by high levels of demand for our services, and further extended our capabilities, reach and scale through selective acquisitions."
Shore upgraded its view to 'buy' yesterday following an upbeat trading announcement
The pair of deals see Keywords expand in Australia and, separately, the games-as-a-service industry.
Keywords expects the trading momentum to continue into 2022
The outsourcing contractor to the video games industry announced the appointment of Bodson in September
US consumer spending on video games remains robust said the broker
"We are delighted to have attracted a candidate of Bertrand's calibre," said chairman Ross Graham
