Game Digital (GMD)

Business description

Game Digital is the leading omni-channel specialist retailer of video games in the UK and Spain, with 311 stores in the UK, 270 stores in Spain and over 30% market share.

Stock data

Market cap.£57.2m
Last close33.50p
High / Low (52 weeks)78.5p / 32.0p
Stock market listingLN
Forecast net cash (£m)49.4
Forecast gearing ratio (%)N/A
TeamConsumer
SectorFood & Drink

Price performance

%1m3m12m
Actual(23.2)(18.5)(54.1)
Relative *(22.1)(20.1)(62.3)

* % Relative to local index

Other companies in sector Show

Investment summary

Game Digital (GMD) is a market leader in video gaming in the UK and Spain with 32% average share. It is executing a major change of strategy. The strategy is to maximise core retail potential, retaining GMD’s position as the number one destination for gamers, while expanding live and online gaming services. GMD also seeks to develop new markets through digital enterprise services, and to optimise efficiency while investing for the future. The strategy should bring reduced dependence on the cyclicality of the games market over the next few years.

Last updated on 01/06/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 866.6 46.9 38.0 18.5 1.8 1.3
2016A 822.5 28.0 16.4 8.8 3.8 9.1
2017E 812.6 17.9 5.9 2.7 12.4 3.5
2018E 813.2 19.0 6.4 2.9 11.6 N/A

Last updated on 17/05/2017

Latest research

The long game

Initiation | Food & Drink | 19/04/2017

Latest video

Bitesize Briefing - Game Digital

Industry outlook

The UK and Spanish console markets are worth c £0.8bn and €0.3bn respectively, and the content markets c £1.6m and €0.5m respectively. Console releases from Microsoft and Sony drive demand that has peaked every six years since 2000 and drives content over subsequent years. However, an apparent move to shorter release intervals could signal structural changes to the traditional cycle, emulating the mobile and PC markets.

Last updated on 01/06/2017

Key management

John E. Jackson, Chairman
Martyn Gibbs, CEO
Mark Gifford, CFO
Pablo Crespo, Director: General of Spain
Lesley Watkins, Non-Executive Director
Caspar Woolley, Non-Executive Director
James Staveley, IR Director

Company address

Unity House
Telford Road, Basingstoke
RG21 6YJ
United Kingdom
+44 (0)1256 784000
View website