**Summary of Everplay Group plc Half-Year Results (H1 2025)**
Everplay Group plc, a leading global indie developer and publisher of premium video games, working simulation games, and childrens edutainment apps, reported its unaudited half-year results for the six months ended 30 June 2025. The Group demonstrated strong momentum despite challenges, with key highlights as follows
### **Financial Performance**
**Revenue**Declined 10% to £72.4 million (H1 2024: £80.6 million) due to timing of license revenues, declines in physical sales, and strong prior-year back catalogue performance.
**Gross Profit**Increased 2% to £33.7 million, with a margin improvement to 46.5% (H1 2024: 40.8%) driven by favorable sales mix and cost discipline.
**Adjusted EBITDA**Remained broadly stable at £19.2 million (H1 2024: £19.4 million), with margins up to 26.5% (H1 2024: 24.1%).
**Profit Before Tax**Increased 16% to £14.3 million (H1 2024: £12.4 million).
**Adjusted Profit Before Tax**Rose 2% to £19.7 million (H1 2024: £19.2 million).
**Basic Earnings per Share (EPS)**Increased 17% to 7.4p (H1 2024: 6.3p).
**Adjusted EPS**Increased 4% to 10.5p (H1 2024: 10.1p).
**Cash and Cash Equivalents**Increased 9% to £59.5 million (H1 2024: £54.3 million).
### **Operational Highlights**
**New Releases**Four new games launched (H1 2024: nine), with revenues from new releases up 40%. Strong pipeline for H2 2025.
**Back Catalogue**Strategy gaining momentum, driving new revenue streams. Three acquisitions of IP and back catalogue publishing rights completed, adding long-term growth potential.
**Divisions**
**Team17**Launched four new titles, with strong performance from *Sworn*, *Date Everything!*, and *Hell Let Loose*. Announced *Hell Let Loose Vietnam* for 2026.
**astragon**Released two existing titles on new platforms and two DLCs. Aggregate player numbers increased by 5 million. H2 launches include *Firefighting Simulator: Ignite* and *Seafarer: The Ship Sim*.
**StoryToys**Revenues up 2% to £11.1 million, driven by 300+ app updates. *LEGO® Bluey™* launched in August, reaching #1 on iPad charts in six countries.
### **Strategic Progress**
Rebranded to Everplay Group, reflecting business evolution since IPO in 2018.
Acquired Hammerwatch IP for £10 million, strengthening first-party IP portfolio.
Focus on increasing first-party IP weighting, supporting evergreen franchises, and disciplined capital deployment.
### **Outlook**
Expects FY 2025 adjusted EBITDA to be slightly ahead of market expectations (£46.9 million).
Strong H2 lineup includes *Date Everything!*, *LEGO® Bluey™*, *Firefighting Simulator: Ignite*, and full launch of *Sworn*.
Continued focus on long-term growth through strategic acquisitions and lifecycle management.
### **Interim Dividend**
Declared an interim dividend of 1p per share, payable on 10 October 2025.
### **Leadership**
Search for a new Group CEO is progressing, with the successful candidate expected to start in 2026.
Everplay Group remains well-positioned for growth, leveraging its strong portfolio, strategic acquisitions, and disciplined approach to capital allocation.
| Metric | H1 2025 | H1 2024 | % Change |
|---|---|---|---|
| Revenue | £72.4m | £80.6m | (10%) |
| Gross Profit | £33.7m | £32.9m | 2% |
| Gross Profit Margin | 46.5% | 40.8% | — |
| Adjusted EBITDA | £19.2m | £19.4m | (1%) |
| Adjusted EBITDA Margin | 26.5% | 24.1% | — |
| Profit Before Tax | £14.3m | £12.4m | 16% |
| Adjusted Profit Before Tax | £19.7m | £19.2m | 2% |
| Basic Earnings per Share (EPS) | 7.4p | 6.3p | 17% |
| Adjusted EPS | 10.5p | 10.1p | 4% |
| Operating Cash Conversion | 94% | 109% | — |
| Cash and Cash Equivalents | £59.5m | £54.3m | 9% |