Games Workshop’s year of soaring profits, Warhammer 40k success, and major IT upgrades have put its sights on global financial domination again.
Games Workshop has just wrapped up quite an epic fiscal year ever, with financials that would make any Space Marine proud. From sky-high revenues to record-breaking Warhammer 40k sales, this UK-based titan of tabletop gaming has conquered new frontiers.
Games Workshop Financial Performance 2023-24
Revenue Growth
Hold onto your dice, folks! Games Workshop has pulled off a spectacular year, with revenue shooting up faster than a Space Marine on a jetpack. For the fiscal year ending June 2, 2024, the company reported a whopping £525.7 million in revenue, up from £470.8 million the previous year. It’s like they rolled a critical hit in the financial battlefield, leaving their competitors in the dust.
Profit Increase
But wait, there’s more! The pre-tax profit also saw a heroic leap, climbing to £203 million from last year’s £170.6 million. It’s as if they had a cunning plan from Tzeentch himself! This profit surge is a testament to Games Workshop’s savvy business strategies and their ability to keep the Warhammer community engaged and spending.
Dividend Payments
And it’s not just the company’s coffers that are overflowing. Shareholders are feeling the love, too, with dividends hitting 420p per share, up from 415p. It’s a small but sweet increase, much like finding that extra sprue of bits in your Warhammer kit. These dividends are the company’s way of saying, “Thanks for sticking with us on this wild ride through the grimdark future!”
Warhammer 40k Sales & Popularity
Record-Breaking Sales of Warhammer 40k 10th Edition
In the world of miniature wargaming, Warhammer 40k reigns supreme, and the 10th edition has cemented its legendary status. Sales have hit record levels, making it the best year in Games Workshop’s history. Picture this: Space Marines flying off the shelves faster than a drop pod assault. The new edition’s launch in June 2023 was nothing short of a seismic event, drawing in both veteran players and newcomers eager to join the fray.
Impact of New Miniatures and Free Rules
What’s behind this surge? Well, the introduction of jaw-dropping new miniatures and the enticing offer of free rules for all factions. The new Space Marine models alone are enough to make any fan’s heart skip a beat, and the simplified rules of the Combat Patrol game mode have lowered the entry barrier, making it easier than ever to dive into Warhammer 40k and the grimdark future.
Community Engagement
Games Workshop didn’t just stop at cool models and free rules; they engaged the community like never before. From epic live-streamed battle reports to interactive online campaigns, they’ve kept the Warhammer universe alive and kicking. The company’s dedication to community engagement is like an unbreakable ceramite chain, binding fans together in their shared love for the game.
Global Expansion Plans
Store Openings in North America and Europe
Games Workshop is on a mission to spread the Warhammer gospel far and wide. Over the past year, they’ve ramped up their store openings, especially in North America and Europe. From 172 stores in the US to a planned 200 soon, it’s clear they’re not just painting miniatures—they’re painting the map red with new retail locations. Europe isn’t left behind either, with new stores popping up to cater to the ever-growing demand.
New Territories in East Asia and Latin America
But why stop there? Games Workshop is eyeing new horizons in East Asia and Latin America. They’re working closely with local distributors in Mexico and have ambitious plans for South Korea, among other countries. This expansion isn’t just about selling products; it’s about creating a global community of Warhammer hobbyists and enthusiasts.
Warehouse and Facility Upgrades
To support this rapid growth, Games Workshop has also been busy upgrading its warehousing facilities. North America and Europe have already seen significant improvements, and Australia and New Zealand are next on the list. These upgrades ensure that every store, new and old, gets the stock it needs to keep the battle raging on every tabletop around the world.
Operational Upgrades and IT Improvements
IT System Replacement Plan
In the ever-competitive world of business, standing still is not an option, and Games Workshop knows this all too well. They’ve embarked on a multi-year mission to replace their aging IT systems. This isn’t just a tech upgrade; it’s a full-blown overhaul to future-proof their operations. Imagine swapping out your rusty old bolter for a brand-new plasma rifle—efficiency and power combined!
Efficiency in Warehousing
But the upgrades don’t stop at IT. Warehousing is getting a serious boost, too. Games Workshop’s warehousing facilities have seen improvements to keep pace with their ambitious expansion plans. This means faster, more efficient distribution of those precious miniatures we all crave. No more waiting eons for your latest Warhammer fix!
Future-Proofing Operations
Future-proofing isn’t just a buzzword for Games Workshop; it’s a strategic imperative. By investing in these operational upgrades, they’re ensuring that they can continue to meet the growing demand and keep delivering top-notch products and services. It’s a clear signal that Games Workshop is here to stay, ready to conquer new markets and bring the Warhammer universe to an ever-wider audience.
Licensing Revenue & Intellectual Property Strategy
Growth in Licensing Revenue
Games Workshop isn’t just about selling miniatures; they’re also masters of licensing their intellectual property. The past year has seen a significant boost in licensing revenue, jumping to £31 million from £25.4 million. It’s like they’ve found the secret sauce to turning their beloved Warhammer universe into a multi-channel juggernaut. From video games to merchandise, the Warhammer IP is making waves far beyond the tabletop.
Key Licensing Agreements
A big part of this success comes from shrewd licensing agreements. Games Workshop has inked deals with major players in the entertainment and gaming industries, ensuring that their IP is represented in top-tier projects. These agreements not only bring in revenue but also broaden the reach of the Warhammer universe, attracting new fans and hobbyists who might never have picked up a miniature before.
Long-Term IP Strategy
Looking ahead, Games Workshop has a robust strategy to keep their intellectual property thriving. They’re not resting on their laurels; instead, they’re constantly seeking new partnerships and opportunities to showcase their IP. This long-term vision ensures that the Warhammer brand remains strong and continues to grow, securing its place as a dominant force in the world of fantasy and sci-fi.
CEO Kevin Rountree’s Vision & Strategy
Clear and Unchanged Strategy
When it comes to leading the charge, Kevin Rountree is like a seasoned Chapter Master. His strategy for Games Workshop is clear and unwavering: focus on quality, customer engagement, and long-term growth. This steady hand at the helm has guided the company through an impressive year, and Rountree shows no signs of changing course. It’s a strategy that’s as reliable as a trusty power sword in the heat of battle.
Operational Plan for the Year Ahead
Rountree isn’t just about big-picture visions; he’s got a detailed operational plan for the year ahead. This plan includes everything from expanding the retail footprint to enhancing operational efficiencies. It’s like a well-planned campaign, with each move carefully calculated to achieve maximum impact. His meticulous approach ensures that Games Workshop is always ready for the next challenge.
Commitment to Long-Term Success
What sets Rountree apart is his unwavering commitment to long-term success. He’s not interested in quick wins or flashy gimmicks. Instead, his focus is on building a company that will stand the test of time. By investing in quality products, nurturing the community, and continually improving operations, Rountree is setting up Games Workshop for a future that’s as bright as the Astronomican.
Wrapping Up the Financial Report
Games Workshop is rolling critical hits on all fronts, with impressive financial growth, booming Warhammer 40k sales, strategic global expansion, and significant operational upgrades. CEO Kevin Rountree’s clear vision and commitment to long-term success ensure that the company is poised to continue its domination in the world of miniature wargaming. Whether you’re a newcomer or a veteran hobbyist, the future of Games Workshop looks brighter than the Emperor’s throne room, especially in regard to the Amazon project!
All the Latest Warhammer Rules & Model Rumors
From its revenue to profits, what do you think about Games Workshop’s Financial growth in 2024?
About the Author: Rob Baer
Rob Baer
Job Title: Managing Editor
Founded Spikey Bits in 2009
Socials: Rob Baer on Facebook and @catdaddymbg on X
About Rob Baer: Founder, Publisher, & Managing Editor of Spikey Bits, the leading tabletop gaming news website focused on the hobby side of wargaming and miniatures.
Rob also co-founded and currently hosts the Long War Podcast, which has over 350 episodes and focuses on tabletop miniatures gaming, specializing in Warhammer 40k. and spent six years writing for Bell of Lost Souls.
Every year, along with his co-hosts, he helps host the Long War 40k Doubles Tournament at Adepticon and the Long War 40k Doubles at Las Vegas Open, which attracts over 350 players from around the world.
Rob has won many Warhammer 40k Tournaments over the years, including multiple first-place finishes in Warhammer 40k Grand Tournaments over the years and even winning 1st place at the Adepticon 40k Team Tournament.
With over 30 years of experience in retail and distribution, Rob knows all the products and exactly which ones are the best. As a member of GAMA (Game Manufacturers Association), he advocates for gaming stores and manufacturers in these difficult times, always looking for the next big thing to feature for the miniatures hobby, helping everyone to provide the value consumers want.
While he’s played every edition of Warhammer 40k and Warhammer Fantasy (since 5th Edition) and has been hobbying on miniatures since the 1980s, Titans of all sizes will always be his favorite! It’s even rumored that his hobby vault rivals the Solemnance Galleries, containing rulebooks filled with lore from editions long past, ancient packs of black-bordered Magic Cards, and models made of both pewter and resin.
