A look at where the money goes

[sheeshmode]

Hey guys. I was lurking around the image boards and found this: http://investor.games-workshop.com/

It's a webpage that catalog's all of GW's business, what they invest in, how much of the company they own and so forth. For those with a more mathematical and business savvy mind than myself, you'll be interested in the course this business is going.

[kturock]

Here's the part that matters:

Profit before taxation £21.4m. 2 million pounds more than last year. £19.5m

Cash generated from operations £31.9m 3 million more than last year. £28.0m

So, that means that made over 21 million pounds profit from almost 32 million pounds of cash received.

http://investor.games-workshop.com/wp-c ... e-page.pdf

That's the entire report as pdf.

Yup, sounds like they needed all of these price increases to stay afloat.

[jul]

if i remember correctly, the volume sale stayed the same as last year or with a marginal increase/decrease depending the area, meaning that the profit comes mostly from the price increase, cut in the staff (one-man store) and royalties.
also, only FW and BL are really making money this days, main GW is compensating so far.

J

[kturock]

royalties dropped from 3.5m in 2012 to 1m in 2013; according to the report.

3 million more in revenue this year vesus last.

[jul]

you're right the THQ license is over...

there was an analysis available recently of an investor/gamer that was quite a nice reading...

Something funny also in there is that GW USA (distributor and sale) is a sub company while Forgeworld is integrated to GW UK (manufacturer, distributor and sale), so for all the FW haters that keep saying FW is a different company..

i'll try to find back the link, but overall the company is doing well in a crisis period but it is mostly due to increase in price and the continued restructuration of the business model. If volume would have increase, profit would have been much higher...( taking into account the restructuration as well).

J