Keywords Studios (KWS)

Business description

Keywords Studios provides localisation, testing, artwork, community support and engineering services to the video games industry. It provides services to 20 of the top 25 games developers and is leading consolidation of this fragmented industry.

Stock data

Market cap.£469.7m
Last close842.00p
High / Low (52 weeks)842.0p / 260.0p
Stock market listingLN
Forecast net cash (€m)13.2
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual4.635.8193.4
Relative *(0.3)31.4142.2

* % Relative to local index

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Company news

Keywords Studios PLC 17.6% Potential Upside Indicated by finnCap

Mon, 22 May 2017 08:48:45 GMT

Keywords Studios makes move into outsourced software engineering with GameSim ...

Wed, 17 May 2017 07:32:53 GMT

Proactive news round-up: Nasstar, Redx Pharma, Keywords Studios...

Wed, 17 May 2017 15:22:30 GMT

Keywords Studios snaps up content management software group in latest acquisition

Wed, 10 May 2017 07:10:06 GMT

Global game plan propels Keywords Studios to next level

Fri, 05 Feb 2016 14:01:23 GMT

Investment summary

Keywords Studios’ $6m acquisition of Red Hot CG further strengthens the company’s position in the art service line, in China and with Activision. Management estimates that the deal will make Keywords the number one supplier of art production services to the games industry globally and increase art production capacity by 25%. The deal further enhances our estimated FY18 earnings by 6%, with the three acquisitions made so far in May enhancing earnings by 11% versus our April forecasts.

Last updated on 22/05/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 58.0 9.5 8.0 12.6 79.4 101.1
2016A 96.6 16.9 14.9 20.3 49.3 32.6
2017E 123.1 21.2 18.6 26.0 38.5 25.5
2018E 136.5 23.7 21.0 29.1 34.4 24.2

Last updated on 22/05/2017

Latest video

Executive Interview - Keywords Studios

Industry outlook

The global games industry is estimated to be worth US$90-100bn. Newzoo estimates the industry grew 8.5% in 2016 and will expand at an annual rate of 6.6% through 2019. Industry consolidation is ongoing and there is a continued trend to technical outsourcing as publishers seek to improve flexibility and efficiency. Both trends should benefit Keywords.

Last updated on 02/05/2017

Key management

Ross Graham, Chairman
Andrew Day, CEO
David Broderick, FD

Company address

South County Business Park
Dublin 18
Ireland
+353 1 902 2730
View website