reports
- Bob Liao
- Carl Smith
everplay group (EVPL LN) - H1 update: Another upgrade - BUY
everplay has issued a H1 update showing strong trading with a good reception for its new game releases, alongside continued robust performance from the back catalogue of titles. To accelerate growth, everplay has also acquired the rights and assets of a four-game franchise, Hammerwatch, and the publishing rights for a further two games for a combined maximum consideration of less than £8.0m. In our view, the acquisition of IP, rather than full development studios, is a cost effective way of stre...
- Bob Liao
- Carl Smith
Audio Note: UK video game sector - Market Recovery
In this audio note, Zeus’ Bob Laio summarises the investment case for the UK video game sector. Our analysis indicates that we will see an inflection in the video game market, where demand growth exceeds supply growth for the first time in five years in 2025.
- Bob Liao
- Carl Smith
UK video game sector - Market Recovery - 27 March 2025
The video games market moved from excess demand, driven by Covid lockdowns, to excess supply, as game makers expanded production capacity only to see demand normalise post lockdowns. Consequently, the sector experienced sharp declines in profit and game makers reduced development budgets, cancelled game releases and wrote-down investments in work-in-process. These cutbacks have reduced game supply in their years of announcement but also in future years. As a result, we estimate game supply growt...
- Hybridan Team
Hybridan Small Cap Feast: 23/01/2025
* A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: Quiz Plc (QUIZ.L) left AIM. Alpha Real Trust Limited (ARTL.L) left the Main Market. What’s baking in the oven? Potential** Initi...
Hybridan Small Cap Feast - 24 Nov 23
24th November 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj...
Hybridan Small Cap Feast - 28 Apr 23
28th April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object...
- Liberum Research Team
- Liberum Research Team
- Andrew Ripper
- Ciaran Donnelly
- William Larwood
LIBERUM: Team17 - Add on additional weakness
Team17’s FY22 results were in line with recently upgraded expectations in January. With Debbie Bestwick’s decision to retire from Group CEO, and with 65% of revenues 2H weighted, the shares could trade range bound near term. However, the long term investment thesis remains intact – TM17 should be able to continue to beat expectations thanks to its superior lifecycle management and diverse portfolio, which is embedded across the group. Any further shares price weakness is an attractive buying opp...
Hybridan Small Cap Feast - 28 Mar 23
28 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
Thanks to a better fundamental star rating, TEAM 17 GROUP sees an upgr...
The independent financial analyst theScreener just awarded an improved star rating to TEAM 17 GROUP (GB), active in the Internet industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 2 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as moderately risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 4, 2022, the clo...
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