The GW Half Year financial report is in- their sales and profits are skyrocketing amid store closures and warehousing issues.
Games Workshop’s Investor page just released a detailed breakdown of revenue and costs for the financial year of 2020-2021. It is really no shocker that they kept the profits rising. It’s just wild how much they grew in profit during COVID. But it looks like games are growing all around right now due to boredom and people staying at home. Let’s compare the latest results to their 2019-2020 report.
GW Half Year Financial Reports
The revenue went up by basically 40 Million pounds (about 54 million USD) which in itself is quite impressive. But what’s even more impressive is when you look at the profit for the year. The profit went from £58.5m to £91.6m! Somehow almost all the extra money they made this year went right into profit. Not that there is anything wrong with that, just something very interesting to look at.
Comparing to Previous years
These are the entire sales for the last two years (June-June), so this year, in the first half have already sold far more than 50% of last year. If they keep on this pace, they will be up in revenue by around £100m in just one year! Pretty insane growth when you think about it! Especially when so many businesses have been struggling GW has been growing.
They aren’t the only ones however, many game companies have been showing huge growth due to basically people being bored and wanting to do something! If you want to see everything from last year, you can here. Let’s look at where they’ve grown so much.
Revenue By Segment
No shocker here, retail is down but trade and online sales have been soaring! Online sales almost doubled since Dec. 2019. We’ll have to see how delaying everything is going to affect those numbers moving forward, but we don’t expect too badly.
The crazy thing is just how much their profit to sales ratio went up. Here’s what they have to say about it:
Operating profit – pre-royalties receivable – both value (up £35 million to £83 million) and profit to sales ratio (up 12% to 45%) have improved in the period. Our high margins are delivering incremental profit compared to last year at 91% (2019: 55%).
Be sure to read over the full report for yourself if you’ve got some time! Overall, Games Workshop is continuing to grow, and with 9th Edition now fully entrenched, we’ve got plenty of things to be excited about moving forward.
Are you surprised at all by the numbers? Have you found yourself buying more this year?
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About the Author: Travis Pasch
Travis Pasch
Job Title: Head Writer & Editor
Socials: @paschbass
About Travis Pasch: Travis has been a Warhammer 40k hobbyist since the 1990s, playing the game since Third Edition. Through extensive traveling, he’s seen a lot of the miniatures hobby from across the world, giving him a unique perspective on the latest gaming topics and trends.
Travis’s brother even owns a commission painting studio, where he’s picked up a lot of good advice and techniques for painting Warhammer and tabletop miniatures over the years, as well. Travis joined the Spikey Bits team in 2019 and has been the lead writer since 2020.
Currently, he’s working on converting all his 40k Adeptus Mechanicus models and becoming a true tech enjoyer, complete with both sad and happy robot noises!
