Games Workshop Group (GAW) Trading Update summary

Financial performance

• Core revenue for FY25 expected to reach at least £560 million, up from £494.7 million in FY24.

• Licensing revenue estimated at around £50 million, a record high compared to £31.0 million in FY24.

• Core operating profit projected at not less than £210 million, up from £174.8 million in the previous year.

• Licensing operating profit expected to be approximately £45 million, up from £27.0 million in FY24.

• Profit before tax estimated at not less than £255 million, compared to £203.0 million in FY24.

Licensing and strategic focus

• Licensing revenue reached a record level, but similar performance is not anticipated for FY26.

• Licensing remains a significant strategic focus for the group.

Staff and shareholder returns

• Group Profit Share cash payments to staff totaled about £20 million, paid equally to all employees.

• Dividends declared and paid amounted to £171.4 million (520p per share), up from £138.3 million (420p per share) in FY24.